Tag Archives: real estate

What’s next for Melrose Market under new owners? Tenants say maybe a breath of fresh air

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A Melrose Market view (Image: Sitka and Spruce)

In Seattle, everything’s for sale.

With every new announcement of a longtime business or building selling or making way for apartment buildings, the sense heightens that nothing is sacred.

So it was no wonder that after CHS reported that iconic Capitol Hill property Melrose Market sold to Regency Centers, a Florida-based real estate investment trust, for $15.5 million, many feared the worst for the preservation and locavore focused retail development home to Sitka and Spruce and Terra Plata.

“I got so many texts, it wasn’t funny,” says Terra Plata chef/owner Tamara Murphy, who says she’s had to calm down many people. Murphy’s not stressed, she says. “They’re not going to turn into a shopping center, at least not in ten years,” Murphy noted that the tenants in the building are safe until their leases run out. Many of the building’s tenants have long-term leases with renewal provisions. “They can’t turn around and say we’re out.”

No, Melrose Market won’t be razed to make way for a new condo building, said Craig Ramey, Regency’s managing director for the Pacific Northwest, Northern California and Colorado. “That’s not anywhere in anyone’s plans. [Regency’s] core business is retail.”
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‘Rare central Seattle find’ — With $2.8M listing to sell some of its land, church neighboring Uncle Ike’s begins longterm plan for new home

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Mount Calvary is selling land across the street on 23rd Ave for $2.8 million that will be the start of its plans to find a new home away from 23rd and Union

A $2.8 million real estate listing is a harbinger of things to come at 23rd and Union. The Mount Calvary Christian Center, which unsuccessfully battled the neighboring Uncle Ike’s pot shop in court, is beginning the process of finding a new home closer to the areas where most of its congregation now lives.

“We’re still very much a part of the community,” Nicole Bascomb of Bascomb Real Estate Group and a member of Mount Calvary tells CHS, “and we’re going to be there for a while.”

But change has begun. Bascomb, daughter of longtime Central District real estate agent Paul Bascomb, has listed her church’s Joshua Generation Teen Center property on the west side of 23rd Ave across from Mount Calvary for $2,824,250. Continue reading →

‘The Intimate Values of Inside Space’ — Of course an art show mixed with a townhome open house is happening on Capitol Hill

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At first glance, “The Intimate Values of Inside Space” sounds like your quintessential Capitol Hill Art Walk Valentine’s Day show.

The one-night exhibition, opening this Thursday during the monthly art walk at the new construction at 1532 15th Ave E, checks many of the typical boxes. It is curated by two local artists, Gabriel Molinaro and Alexander Keyes. And it groups together a group of great local artists, such as Jennifer Zwick, Philippe Hyojung Kim, Natasha Marin and local bands like Cumulus and Mahal. It also name-checks a French philosopher (Gaston Bachelard) along with a fancy-sounding concept (topoanalysis, in this case).

The Intimate Values of Inside Space

What’s peculiar, however, is its setting: six new construction townhouses. Hosted by Keyes, artist-turned-real-estate-agent, and real estate developers and investor company Build with Style, ‘The Intimate Values of Inside Space’ is also a real estate open house. Continue reading →

Capitol Hill’s Melrose Market sold to shopping center developer

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(Image: Melrose Market)

It’s no Neighbours but an iconic Capitol Hill property has been sold. Melrose Market, the preservation and locavore focused retail development home to Sitka and Spruce and Terra Plata, is now owned by the same real estate investment trust that owns the Broadway Market shopping center.

Public terms of the deal were not yet available from the county but the Puget Sound Business Journal is reporting a $15.5 million price tag. Continue reading →

Big ticket items in *possibly* softer Capitol Hill real estate market: Rocker’s mansion, playwright’s E Aloha home

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(Image: Sotheby’s International Realty Affiliates LLC)

With the neighborhood’s Millionaire’s Row and Harvard-Belmont Landmark District, it’s not unusual to see spectacular Capitol Hill real estate listings. It’s no Neighbours, but a 1912-built Interlaken Dr. E home is worthy of note.

For one, it’s owned by a trust associated with Seattle rocker Ann Wilson. For two, its $4.7 million price tag might provide further evidence of softening home prices in Seattle. Continue reading →

Those actually might be ‘condos’ after all: Conversions part of Capitol Hill condominium wave

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The Atrium at 11th and Aloha wasn’t not developed as condos — but it wasn’t exactly planned that way, either (Images: CHS)

More condominiums than you think are coming to Capitol Hill. And it turns out one key element widely reported as a throttle on condo development may not be the safeguard against building conversion that it was thought to be.

The Neighborhood Collection — a marketing campaign for a set of three new Seattle buildings including two on Capitol Hill originally developed and designed as rental housing — says its new buildings provide “a highly engaging lifestyle” where “residents will enjoy an array of amenities for gathering, unwinding and turnkey living.” The projects are currently lining up prospective buyers for “the studio, urban one bedroom and one bedroom flats and lofts” offered “from the $400,000s to more than $800,000.”

But that wasn’t the original plan. Continue reading →

SPONSORED: Solis, the most intriguing new condo building to come to Capitol Hill in over a decade

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The time has come for prospective owners to secure the kind of home on Capitol Hill most buyers could only dream about even a few months ago. The Solis condo building is ready to sign up new buyers.

“We are truly building this to be everything you think of for luxury. It just happens to be the greenest condo building in Seattle too,” Marc Coluccio of Seattle-based sustainable development firm SolTerra tells CHS.

CHS reported in August on the coming new project at 13th and Pike set to replace the old Fran’s Chocolate offices on the northeast corner with a Weber Thompson-designed six-story building on pace to be Seattle’s first ever Passive House condominium project.

This week the process begins for 45 new owners to make their claim on Capitol Hill. Solis developers are holding an Early Preview Event inside the old Fran’s building with live music, food, and, most importantly for anybody thinking about making the change from a renter to a Capitol Hill owner, more details on Solis including how to reserve a Condominium – the event is for registered guest only, for details sign up at LiveSolis.com.

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Developer ready to build two seven-story buildings on Broadway flips one in Pike/Pine for $69M

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(Image: Modera Capitol Hill)

Residents of the 11th Ave Modera Capitol Hill Apartments were surprised to be informed last week that their brand-new building has already been sold.

Just as its development to replace the Broadway Bonney Watson funeral home has received the OK from the design review board, Mill Creek Residential is getting a big wad of cash in a deal to sell another of its Capitol Hill developments. Continue reading →

Capitol Hill’s last independent service station’s days numbered as developer has deal for 15th Ave E corner

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After more than half a century of business on Capitol Hill, the Hilltop Service Station on 15th Ave E is slated to be no more. Customers have been told the station’s last day of service is coming — possibly this week.

Cadence Capital, a Colorado-based real estate and development firm, finalized an agreement to purchase the property last month, according to King County records, making the deal official and paving the way for the property to be acquired and redeveloped. Financial details and terms of the memorandum of agreement are not yet publicly available.  Continue reading →

Historic Gaffney House set to hit the market, again, at 17th and Madison leaving vulnerable residents in need of new homes

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After a previous real estate effort was put on hold, families with loved ones at 17th and Madison’s Gaffney House know this time it is different. Families are beginning the process of searching for new homes for their grandparents, parents, brothers, and sisters after being informed the small-scale assisted living facility for residents living with dementia is being closed as part of a plan to sell off the valuable property.

“My dad is there. I’m a wreck,” one family member who contacted CHS about the notice said. “This place is a savior for a dozen and a half people.”

Dave Budd, executive director of Full Life Care which has operated the facility since it opened in 2004, confirmed the notices have been given to residents and family members as part of legal requirements as the nonprofit prepares to close down the facility and its parent Transforming Age readies the property to again hit the real estate market. Continue reading →