Seattle Rentals

Seattle Makes List of "Cities Where Rents are Rising the Most"

2011-05-23T15:02:00.000-07:00

The folks on MSN Real Estate published a list of U.S. "cities where rents are rising the most", and not surprisingly, Seattle made the cut. Seattle was given the No. 9 slot, and it’s no wonder considering how hot the rental market currently is. The weak housing market coinciding with a decreasing (albeit slow) unemployment rate is forcing Seattleites into renting. If I remember the concepts of my microeconomics class correctly, then yes, it’s likely a large majority of renters will be seeing rent increases in the coming year(s). A recent Seattle Times article published in March revealed that vacancy rates fell to 4.9 percent, the lowest since 2007. Developers are also taking advantage of the trend with proposals for apartment buildings and complexes in multiple Seattle neighborhoods. For example, the Pine Street Group is planning a twin-tower complex in Denny Triangle, Schuster Group changed condo proposal plans to an apartment proposal set for Belltown, and Avalon Bay Communities plans to have two, seven-story apartment buildings in the U-District-just to name a few. Don’t fret, renters. If you’re phased by the increasing rents, consider finding rentals from private parties through agents or a listing database. Not to say their rates won’t reflect the current market, but they could be less likely to systematically raise rents which can often happen with large apartment buildings. Please follow the link if you’re a renter and searching for your perfect Seattle rental.

New Program Has Building Owners Tracking Their Energy Consumption

2011-05-13T11:33:00.000-07:00

The Seattle Department of Planning Development launched a new program this week to help commercial and multifamily residential business owners measure their building’s energy efficiency over long periods of time. Owners will use the U.S. Energy Star ratings and disclose these ratings to the city and other related parties like tenants, sellers and buyers annually and/or at request. The program is called the Seattle Building Energy Benchmarking and Reporting, and is aimed to reduce gas emissions and reduce energy consumption in Seattle’s buildings by 20%. Part of the program’s appeal is gaining results at a very low cost, and job creation in the green field. The “benchmarking” portion of the program calls for owners to calculate their rating based on actual utility bills, averaging them with number of tenants, building usage, etc. and comparing it with other local buildings. This process kind of reminds me of Microsofts Hohm website which I previously blogged about, encouraging homeowners to do the same sort of energy use tracking. This is a great way to expose owners to their building’s green footprint, and an easy thing to track. Although benchmarking for large buildings is considerably harder, utilities now have automatic applications to upload energy data to the EPA. All commercial buildings 50,000 sf or greater must comply with the program by October 3, 2011 and report annually every April 1st, and commercial buildings and multifamily building of 10,000 sf or greater must comply by April 1st of 2012, and annually report every April 1st. For more information on the Building Energy Benchmarking & Reporting program, please refer to the official website.

Twin Tower Apartments Breaking Ground Soon

2011-04-20T14:36:00.000-07:00

According to the Seattle Times, a Seattle developer plans to start construction on a twin tower apartment complex in Denny Triangle. This apartment complex, Sixth & Lenora Apartments, will have 654 units available for rent and will also have approximately 18,000 sqft of ground floor retail available. This article is further truth to our last blog "Seattle Rental Market Is Hot". To get more details on the project, please click the link above.

Seattle Rental Market Is Hot

2011-04-19T17:17:00.000-07:00

It's great new if you are landlord and not if you are in the market for a Seattle rental. The article, Hot Apartment Market Settles in For a While, in the Seattle Times gives details about what is going on with the Seattle apartment market. Basically with less people owning their homes, whether they are scared to buy (debate per the article), they lost their home, or if they are just moving here and do not want to commit until they experience Seattle, the demand is going up for Seattle apartments. And that applies to the luxury rental market as well. For example, The Bravern, the Bellevue 440+ unit building that was converted from condos to apartments, is already half full even though not all the units were on the market until past October. In addition, the supply for rentals is increasing slowly since there are not as many apartments being built as there were in the past. According to the graphs on the article vacancy in King county apartments is down to 4.3% from 6.8% two years ago. In the same time period, average rent has gone from $1,015 to $1,045.

To get more details, read the article by clicking the link above. It is an interesting article if you are looking for a Seattle apartment or if you are a landlord.

Seattle Real Estate News- March 18th

2011-03-18T13:04:00.000-07:00

Seattle Commercial Real Estate News:

Office space leasing is picking up in Seattle, from the Dendreon deal in the Russell Investment Center to Amazon.com’s transaction of 460,000 sf in the 1918 Eighth office tower. The space leased by big tech companies in downtown Seattle has made for some of the biggest commercial lease transactions of 2011.

Seattle Real Estate News:

The owners of a Leschi home that was injected with tear gas canisters, after police mistakenly thought it to be the location of police-shooter Maurice Clemmons, is getting or over $900,000 in damages from the city of Seattle. About $250,000 of will be attributed to home repairs.

Rent demands are on the rise and the people of Seattle shall be heard. Some, like the Schuster Group hear loud and clear. The Schuster Group recently changed a condo building proposal to an apartment building proposal set for Belltown as a result.

Developer Avalon Bay Communities has proposed a new apartment complex to be in the U District near University Way N.E. The two buildins will have a combined 385 units and 12,000 sf of retail.

Mercer Island Home- Available

2011-02-15T14:44:00.000-08:00

Our Mercer Island office has a home on Mercer Island's popular First Hill neighborhood for rent. The home features breathe taking views of Lake Washington, Downtown Seattle and the Olympics. This residence was built in 2001 and is 5,200 sqft with 5 bedrooms and 5 bathrooms. Several perks can be found through out the home, which include a Chef's kitchen with top of the line appliances, formal dining room, a guest suite and an executive office. The multiple decks are great for BBQ's and watching the sunset over the Seattle skyline. To find other Luxury Rentals, pleas click here.

Redmond Apartment Complex Fire

2011-01-04T11:14:00.000-08:00

This past weekend, in the early hours of New Year’s Day, a fatal fire in a Redmond Apartment complex killed a father and four children. The fire, at Sammamish Ridge Apartments on Redmond Way, apparently began around 2:30 in the morning after New Year’s celebrations had ended and the children were put to bed. Lily Reasor, the mother of three of the children and step-mother of one, escaped the blaze and was held back by fire fighters from re-entering the building. Although the cause of the fire is under investigation, police are considering the possibility that the fire was accidental caused by smoldering ashes. A witness told police that Reasor had been flicking her ashes into a bathroom garbage can earlier in the night. The building had smoke detectors which were working, according to surrounding residents, yet the complex did not have a sprinkler system installed. Sprinkler systems were not required when the building was built. We offer our condolences to the victims’ families in this tragic accident.

New Apartments Near Fremont

2010-12-17T14:46:00.000-08:00

Today, Prescott Homes of Kirland, a development LLC, purchased property between North 39th and 40th Streets in Seattle from Quality Food Centers (QFC). The property, which sits between Fremont and Wallingford on Stone Way, is essentially a giant hole. QFC had plans to develop, but trashed those because of the current economy. The property sold for $8 million and Prescott Homes plans to develop an apartment building after opting out of building a condo portion for QFC’s original plans. Last year, Prescott received a land-use permit for the apartments and last month, a permit for the foundation and garage. The proposed building will be 5-stories and house 150 apartments.

Colman Tower Design Approved

2010-12-17T14:35:00.000-08:00

The Weber Thomson design proposal for the new Goodman Real Estate project, The Colman Tower Apartments, was unanimously approved this week by the Seattle Downtown Review Board. The proposal for a 6-story, 208-unit mixed-use apartment complex came earlier this year and is geared towards young, urban professionals. The building will feature rooftop amenities such as a terrace, dog run and common barbecues. The building’s interior will include a gym, lounge center, theatre room and game room. Goodman Real Estate has owned the property the tower will sit on for 10 years, and plans on developing 2,000 apartments in the Seattle area. These first 208 will be loft-style and an average of 700 sf in size. This is a good time for development as renters are on the rise. We hope this will help boost the real estate rental market in Seattle. The new construction and beautiful (proposed) building and almost-waterfront location at 888 Western Ave. next to Colman Dock should only make the project more successful.

Ex-Cons: Can They Rent?

2010-12-01T15:24:00.000-08:00

Landlords have, for a long time, understood the anti-discriminatory laws in Washington that come with the job. In accepting tenants who have applied for rentals, landlords are unable to discriminate on the basis of race, creed, color, national origin, sex, sexual orientation, marital status, familial status, disabilities, or honorably discharged vets. They can, however, discriminate on the basis of criminal history. In recent weeks, social-justice groups and offenders are hoping to change this. One of their main arguments is that ex-offenders who are denied housing only increase the homeless population in the city. The Seattle Times’ article on the subject profiled one woman who has been denied housing after being charged 4 years ago for second-degree robbery. Her then boyfriend robbed a bank, and after not calling the police, was sentenced and served 6 months in jail. The goal of activist groups is to have people convicted of nonviolent and nonsexual crimes put on a protected list, so as they cannot be discriminated against when applying for housing. The director of the civil rights office believes that although this type of discrimination won’t be banned outright, landlords will have some discretion based on the history. However, the Rental Housing Association of Puget Sound fears this outcome because it takes away the power landlords have in the selection of a tenant. The association’s president also made a smart comment on the fact that a criminal history often comes from choices a person has made, as opposed to traits such as race and age. Thus, it makes sense to consider any and every conviction the applicant has. Others who back the proposal believe that giving an ex-offender housing after time served provides them stability and proper settling, as 98% of prisoners are eventually released back into society. Some programs in the state make it easier for ex-cons to get housing like the Landlord Liaison Program, which pay some of the property damages and unpaid rent, if there is a lease default. Other states in the nation have already imposed laws that ban the discrimination, and Washington may soon be joining that list.

The Seattle Waterfront-A Future View

2010-11-29T14:03:00.000-08:00

The last time we posted an update about the Alaskan Way Viaduct Project was in September after the neighborhood meeting. The Viaduct is scheduled to come down in 2015, and discussions for its future are still underway. Today, the Seattle PI posted an online photo album of the current Viaduct and a number of simulated images that could be the new Seattle waterfront. The images were taken from and compiled by the Washington State Department of Transportation. The “future” images provide Seattleites with a little bit of hope, because the replacement will surely be timely and messy. If we have this to look forward to, it may just be worth the trouble!

Pnk Ultra Lounge-The Place to Be and Be scene!

2010-11-19T17:00:00.000-08:00

Seattle’s newest lounge, Pnk has been the talk of the town since it first opened its door last month, Countless individuals, mostly young mid 20’s-30’s , go there from all over to get a piece of the new modern playground made for Seattleites and people alike. The lush Vegas atmosphere and hip ambiance creates a very trendy and certainly cool environment you sure won’t want to leave. This multi-million
dollar project was created with idea of “women” in mind. The owners Rob and Tammie Armijo created a perfect environment for the young urban professional women with 3 bars, 40 flat screens, 2 VIP areas, outdoor seating, and even a bar in the Women’s bathroom equipped with its own male bartender! Whether you’re male or female you’re sure to find a place at Pnk. Now open on the 4th floor of Pacific Place. Special thanks to our companies own, Erwin Park, for negotiating the lease. For more information about Pnk please visit their website www.pnkultralounge.com

New Apartments in Belltown

2010-11-19T15:08:00.000-08:00

Just as the McGuire Apartments are headed to demolishment, a new apartment project is proposed for Belltown. The 17-2tory apartment building, to be called “Alto”, will be located on 3rd and Cedar. The expected 184-unit building ‘s construction will be the first of multiple proposals in Central Seattle in the last three years to start. The building will also have 2,700 sf of retail space. The developer, Harbor Properties (who is well known for Downtown’s Harbor Steps project) bought the land in March of last year, but decided not to build until the financial market had improved. The high demand for rentals in Seattle, especially among the younger populations in Belltown, has increased substantially in the past few years. As many of the projects in Belltown are condos, it is a nice change of pace to see some new apartment buildings. This will be the newest among a number of other buildings including 2300 Elliot, The Avalon, and Archstone Apartments, to name a few. The apartments will be aimed at middle-income renters as well, which is a plus for the younger population. Looks like Belltown living is back on the rise, as we expect the residential project from Goodman Real Estate (located on Western) to start in the near future as well.

Plans for the old Ballard Denny's lot.

2010-10-28T11:53:00.000-07:00

The Ballard Denny’s once sat on the corner of 15th Ave NW and NW Market St. Back in 2008, after much controversy, the old “Googie” architecture that housed the breakfast chain was torn down to build a condominium complex. Due to the market crash of 2008, the lot continues to sit vacant-but not for long. On Monday this 1.38 acre lot sold for $12.5 Million to Chicago’s Equity Properties. The name may sound familiar as the company owns several other condominium projects throughout Seattle including Harbor Steps, Olympus, and the Centennial Towers, just to name a few. Equity Properties is the biggest openly traded apartment company in the nation. The plan is to build a mixed-use building with 288 units and up to 33,850 sf of street retail. Change is in the future for Ballard. A commencement date has not yet been released. For more info visit www.seattletimes.com

Pyramid Living

2010-10-26T16:58:00.000-07:00

Most of us have seen the Smith Tower located on 2nd Avenue in Pioneer Square. In the midst of many of the low rise buildings and condos in Pioneer Square lies the Smith Tower, a 1914 Seattle Landmark standing at 42 stories tall. It’s named after its builder, Burns Lyman Smith and it has a phenomenal observation desk on the 35th floor. What most of us in Seattle didn’t know until The New York Times brought recent attention to it was that a family currently lives in the pyramid-shape penthouse apartment near the top of the tower. The Lahaie family, Petra Franklin, David and their two daughters, have a long-term lease in the 1,750 sf, two bedroom, two bathroom downtown Seattle apartment. After the building was renovated in 1998, Ms. Franklin decided she wanted to live there-and that’s exactly what happened. Belltown and downtown Seattle living can be found where you least expect it. It just takes a little effort to find to find a rental or for sale property.

-Image courtesy of planetware.com

McGuire Apartment Tear Down

2010-10-22T11:10:00.000-07:00

In a previous blog, agent Michelle McMahan wrote about the McGuire Apartments in Belltown. Yes, that building on 2nd and Wall surrounded by scaffolding, you’ve seen it. In April of this year, the first demolishment announcement was made after reports of structural problems and cable corrosion. Debate (details here) over who was at fault ensued and in the meantime, tenants were asked to vacate with monetary incentives for prompt vacation. Well according to the Daily Journal of Commerce, issues have been resolved and the property owner Carpenter’s Tower LLC and contractor McCarthy Building Companies Inc. have come to a decision-McGuire is good to go. To the ground, that is. Settlement terms and a tear-down date were not disclosed, but Belltowners can be sure that the building will undoubtedly be demolished. We can only hope that construction closures and the like won’t be affecting the surrounding roads and businesses too much.

Bravern’s North Tower Converts To Luxury Apartments.

2010-10-21T11:28:00.000-07:00

Due to the success of the south tower conversion last April, Schnitzer West, developer of Bravern’s Multi-use complex in Bellevue, made the decision to convert the north tower luxury condominiums to apartments to mimic its neighboring south tower. The south tower's conversion has been extremely successful with nearly 25 leases per month. In the last 6 months, occupany has reached 65 percent. Luxury Apartments are available in both towers for lease starting at $1,550.
Please see my previous blog about the Bravern Complex for more info.

Plans For a 16-Story Residential Building in Pioneer Square

2010-10-20T13:20:00.000-07:00

Goodman Real Estate continues to move forward with its project proposal for the construction of a mixed use, multi-family building in Seattle’s historic Pioneer Square District. Land-use signs have been installed with plans to build a 16-story tower with 9,900 sq ft of commercial retail, 208 housing units and 124 parking stalls.

Goodman Real Estate will have to go through one more planning meeting with the Seattle Department of Planning and Development before the project is ready to erect.
Please refer to my last blog for more information.

Queen Anne Condo Rental

2010-09-30T11:38:00.000-07:00

As the name clearly indicates, The Luxe Condominiums in Lower Queen Anne are anything but ordinary. The luxury condominium building, was constructed in 1967 and converted from apartments recently. During the conversion, the building was thoroughly remodeled, both inside and out. New systems, exterior siding, and a variety of unit updates such as custom countertops, African Tay and Koto wood cabinetry, and stainless steel appliances are just of few of the exquisite features of the condos. If you’d like to experience these luxuries, but simply can’t buy, you are in luck. Agent Bryan Graf has recently listed a condominium in the building for rent, offered at $2,300. The Queen Anne condo is an incredible, two bedroom, two bathroom unit with over 1,200 sf of comfortable living space. The living room is light, bright and gracious in scale and features multiple sets of large windows. An expansive master suite with a partial bathroom, ample walk-in closet and separate den is the perfect retreat. Perhaps one of the most exciting features of the condominium is the 520 sf wraparound deck, ideal for summer barbecues and entertaining. Other features include hardwood floors, energy efficient flat panel radiant, air conditioning and a full size washer and dryer. The condominium comes with one allocated garage parking spot. The Luxe is situated on the hill mere blocks away from the best cafes, restaurants, nightlife, and shopping that Queen Anne has to offer. It is also minutes from downtown attractions including the Seattle Center. Don’t miss out on this great opportunity to rent in an ideal location, and in an amazing building. Please contact Bryan Graf for more information.

Alaskan Way Viaduct update

2010-09-20T13:04:00.000-07:00

Thursday was the neighborhood meeting to discuss the Alaskan Way Viaduct. The state has begun the preliminary stages for replacing the south portion of the Viaduct. You probably have noticed the cleared lot with construction equipment near the Seneca exit off of Highway 99. The south portion of the viaduct is the first to be replaced with a new overpass and additional street to help avoid lengthy backup due to the railway. See my previous blog for more information. The Viaduct is scheduled to come down in 2015. The proposed tunnel is still awaiting its environmental review, which should be done Oct 28th. The board will need to review the environmental statement for over a year, and an expected decision should be made mid-2011. Pioneer Square and the International District should have no immediate threat. Next year will be the start of construction on parts of the viaduct near the Pioneer Square District. This will force heavy traffic onto 1st Avenue and Alaskan Way waterfront. The SDOT has already completed most of the preliminary work, which should help support the added pressure to some areas. Please visit www.alaskanwayviaduct.org for more information.

No Smoking!

2010-09-16T15:33:00.000-07:00

A new petition to limit and/or eliminate any right to smoke in or around apartment buildings has begun. Recently, P.U.S.H. (People United against Smoke-Free Housing) asked the Tacoma –Pierce County Health Department to classify smoking as a nuisance under Washington’s Land Lord Tenant Act. This would give property owners the right to evict tenants for smoking. This push, no pun intended, started when tenants complained that their health problems including mild cases of asthma were caused by the smoking habits of their neighbors. In some of these cases, tenants who were sensitive to smoke were forced to move. The Pierce-County Health Department was set to review the proposal yesterday, Sept 15, 2010. There has been no report of the County’s position on the proposal. The Tacoma-Pierce County Health Department backed the campaign in 2005 for a smoke free Washington, which helped pass Initiative 901, prohibiting smoking in all public places or within 25 feet of buildings. If History repeats itself, we may soon be required to comply with a new addendum to the Land Lord Tenant Act of Washington State, declaring all apartments or multifamily units as smoke free zones. There have been 27 other jurisdictions around the country that elected to pass the ordinance that limits or restricts smokers in and around multifamily units. For more information on tenant and landlord rights, please visit a smokefreewashington.com

P-Patch Move-Out

2010-09-09T10:32:00.000-07:00

Most of us Belltowners are familiar with the P-Patch, located in the heart of Belltown sitting at Vine and Elliot. We’ve noticed the greenery and the three...buildings? These buildings are “huts”, more specifically, homes, that have been standing (although recently renovated in 2004) in that same location for over 90 years. They are the last 3 of 11 that were built as single-family residences in 1916 and owned by William Hainsworth to serve as homes that would eliminate the commute to the downtown Seattle industry core. The “Belltown Cottages” were determined Seattle Historic Landmarks in 2000, and in 2003, some of us (who know about it) began referring to them as “Hugo Huts”. The name “Hugo Huts” comes from the P-Patch’s attachment to the non-profit group Richard Hugo House, based in Capitol Hill. The Richard Hugo House is a center to promote the arts (specifically literature) that aims to promote new writing and provide writers with the resources they need to share their work. The Hugo House has been leasing two of the huts to house their writers on a month-to-month basis and in rotation. Unfortunately, this long-standing relationship has ended. The Seattle Times released an article stating that the Hugo House will no longer be using the homes as writer residences as of September 1, 2010. The Hugo House was initially invited by the City of Seattle to participate in the program to “strengthen the artistic diversity of Belltown”. Now, because of liabilities and security reasons, the cottages will no longer be leased to the participating writers of Hugo House. ‘Friends of the p-patch’ will continue to support this little piece of history though, despite the fact the two homes will be vacant-at least for now. For more information on the Belltown P-Patch, please visit their website.

Queen Anne Condominium

2010-09-08T10:42:00.000-07:00

The trendy and modern “The Block” condominium project located at 1707 Dexter Ave in Lower Queen Anne is a 6-unit mixed-use building constructed of concrete and steel. The building has an exterior of braced frame and metal siding and offers spectacular Lake Union views, as well as those of the Cityscape and Capitol Hill. This unique Queen Anne condo is the only one in the building available for rent and is listed by Ewing and Clark real estate agent Nate Pearson, who has leased the condo once before. The condo offered at $3,650/mo features interiors just as stunning as the exterior. The interior contains a double height living space, exposed steel columns and wood beams, as well as high-end stainless steel appliances, bamboo floors and floor to ceiling windows. The unit is 2,400 sf with 3 bedrooms and 3.5 bathrooms. There is also an attached 2-car garage which is a nice feature for any condominium unit. Do not miss out on this amazing opportunity! Please contact real estate agent Nate Pearson for more information.

Rental scams on Craigslist. Be aware.

2010-08-30T14:34:00.000-07:00

Craigslist is a great resource to find deals and acquire items from locals, but be wary, it’s not the safest or most unfailing place to do business. Here’s a reason why; last week the Seattle Times reported a man was scamming locals out of rent money. His name was Paul Bakovich, a Sammamish dweller, who was posing as an eastside apartment owner to collect deposit money from innocent renters. Bakovich’s scam left him with nearly $5,500 dollars. Thankfully, he was eventually caught by local authorities. Craigslist users should be aware of this kind of thing because it isn’t the only rental scam on craigslist. There are countless reports of similar stories all over the country. One scam ran almost an entire year before victims realized they had been ripped off. An ad was posted on craigslist for a “Summer rental in the Hamptons” which was posted in the fall. Interested parties would tour the summer house, pay a deposit, sign a lease and then go on their way assuming that come summer, they would have a rental in the Hamptons. This went on during Fall, Winter and Spring and affected numerous people until Summer when all of the victims showed up at the same house. Surprised, the victims discovered that the man who posted the ad was working under a false name and of course, was nowhere to be found! This was a very clever scam and, unfortunately, it can happen anywhere and everywhere. If you choose to use craigslist to find a rental, pay close attention-you don’t want to fall victim to a scammer. Below are some some tips to help you avoid rental scams on Craigslist.

• Stay away from off season renters.
• Check tax records to make sure the person renting you the home is the actual owner of record.
• If the price seems to good to be true, it probably is.
• Check with a local real estate broker, they will help find you a rental at no cost.
• If it ask you to wire funds, it’s a scam.
• Never send money via mail.
• Be wary of sub-letting; make sure the person has the authority to do so.
• If the person wrote a heart wrenching story about how their mother is dying in Saudi Arabia and is out of the country, it’s a scam!
• Any listings that mentions Nigeria.
• Use common sense.
New ways to scam people are developed every day. Go with your instincts and if you unsure refer to craigslist’s “Avoiding Scams & Fraud” forum.

Waterfront Living

2010-08-20T13:18:00.000-07:00

Time and time again we get clients looking to find a condo rental in Seattle that has a view. After all, the top two reasons for downtown/belltown living are location and views. Most realize the higher the condo rental, the better the view, and consequently the more expensive the condo. Renters are finding that they simply can’t afford that style of living. Sometimes renters come across impossible deals that are almost too good to be true, like two of the condo rentals Ewing & Clark have currently listed. What’s the cost of living ON the waterfront with some of the best views Seattle has to offer? No more than $2400-and that’s for two bedroom condos!! These rentals are located at the beautiful Seattle condominium building Waterfront Landings, and the name says it all! Located on Alaskan Way, Waterfront Landings’ residents enjoy breathtaking sunsets with views of the Olympic Mountains and Elliot Bay. The building is mere steps away from historic Pike Place Market and a variety of Seattle restaurants and entertainment. Real estate agent Merrily Jacobs has listed a 2 bedroom, 1,378 sf condo and agent Ridge Marshall has a listed a 2 bedroom, 1,121 sf fully furnished condo. Both rentals are ready for move-in! Please contact one of these real estate agents today and be able to call this wonderful building “home”.