Ace Hardware to Move into the Securities Building Downtown

If you live in and around downtown, you’ll be thankful to hear that the city is finally getting a downtown hardware store. The Myers Group announced that they will be opening an Ace Hardware in the Securities building on 4th and Stewart in the first quarter of 2013. The store will be spread across 7,500 sf of retail space, catering to the ever growing population of city dwellers as well as businesses, creating a convenient place to grab your essentials such as hammers, fasteners and tools on the fly.
The Myers Group has said they’ve been looking for the right location for years, and they’re pleased a hardware store will now be able to assist the downtown population.  “The location adjacent to Bed, Bath & Beyond is a very complimentary fit for a hardware store and the Myers Group and Clise Properties were equally eager to make the terms of the lease work,” said Tom Graff, president of commercial at Ewing & Clark, who leased the space to the Myers Group. “When Richard Stevenson came to me to seek a quality retailer of the space, Tyler Myers was one of my first calls. His store will be a tremendous asset to the area and satisfy a steady request from downtown residential focus groups.” For more information and updates about the space, visit the Puget Sound Business Journal.

Don't Lose Your Dream Home to Another Buyer

As a renter, it’s possible you’ve toyed with the idea of buying, browsed available homes in your price range, or taken advice from friends and family in Real Estate. A word of advice if you’re ready to take the leap; don’t let your dream home be the one that got away. In your home search, you want to have no regrets and be absolutely certain that you’re the perfect match, and you don’t want to lose the right one to another buyer because you clammed up at the last minute.

Make sure your financials are in order whether your paying cash or getting a mortgage, and be prepared to provide your real estate agent with your proof of funds right away so they have that information on file when you submit an offer. Be positive this is a home you’ll be happy in for the long haul, and although you’ll likely have to compromise on certain issues, do your homework and make sure it has everything you and your family will need. With low inventory in the Seattle Market and the Puget Sound area, know that you’re not the only one likely interested in your home. There is potential for bidding wars, so if you know the time is right make an offer when you’re ready.

Aspira Sells For $165.7 Mil

The Aspira apartment building Downtown near South Lake Union was bought by T-C Aspira LLC on Thursday November 1 for $165.7 million, according to the Puget Sound Business Journal. Urban Partners and O’Conner Capital Partners developed the 37 story building, which has 325 units, and 6,500 sf of retail space.
The price per unit of this building after the sale is far beyond anything in the Puget Sound area. Based on the availability,the price per unit has been configured to $509,760 per unit, not including the retail space. For more information on the sale and building, visit the Aspira Apartments website.

Seattle Ranks High in Best 2013 Real Estate Markets

The nation’s real estate market is slowly recovering after the long haul, and 2013 is said to be the year for a turn around. According to the Seattle Pi, San Francisco is predictably the #1 city, with Seattle trailing shortly behind with a secondary market. Investors are leaning towards Real Estate because despite the slow recovery they are still able to profit.
The Emerging Trends in Real Estate Report by the Urban Land Institute indicated that San Francisco landed the # 1 spot due to tech, trade, and quality of life in the city along with neighbor San Jose which ranked 3rd on the list. Seattle, along with Houston, was highly ranked because of the growing number of “echo boomers” or those 25-34 year olds. This group has increased by 20% in Seattle, and reflect the future homeowners in the area. Right now the statistics show that this group is currently willing to rent smaller apartments for higher prices as long as they have enticing amenities and close proximity to public transportation. When will the echo boomers make the transition to buyers? Predictably 2013. For more information on the Emerging Trends report, visit the Urban Land Institute.

Apartments Sold on Greyhound Station Block to Become Mega Hotel

Last week there were some notable commercial sales in and around Seattle, including one in the Denny Triangle that is staged to make way for a Mega Hotel downtown!
According to the Puget Sound Business Journal, Seattle based R.C. Hedreen Co. purchased two high rise apartment buildings on the same block as the Greyhound bus terminal for $7 million, and they have plans to build a 1,200 room hotel. Hedreen hopes  to get traffic from the convention center, and has since met with city officials to discuss early design guidance, and a possible office tower could be constructed on 8th and 9th Streets along Howell & Stewart. For more information on this project, follow the Puget Sound Business Journal.

Maintenance Tips to Safeguard Your Home for Fall

As you know Fall in Western Washington can be quite wet, and it’s important whether you rent or own your home to take proper precautions to ensure your home is prepared for fall and winter conditions.

You can check the foundation for cracks in caulking around the exterior where pipes and wires enter the house, and especially around windows and door frames in older homes, to stifle heat from escaping through the cracks! Be sure get the problem taken care of as soon as possible, because even the slightest crack can cause water to get in and freeze, sometimes resulting in extensive mold damages. If you're renting, check with your landlord if the roof was checked recently for damages that could lead to leakage, and put away summer tools and lawn furniture. Clean your screen doors, and store for the winter, as winter conditions can damage these as well. For more information on how to best prepare your home in the fall, visit Zillow.

Influx of New Hotels Planned for Downtown Seattle

The Downtown Seattle metro area has not seen any hotels break ground in the past two years, and there are no current plans for any to go under construction in the next upcoming months. But according to the Seattle Times, all that might change this year, with current hotels having successful bookings, with little trouble filling rooms, and they’re able to have consistently higher rates. Developers are feeling more confident with those statistics in place, and are moving forward by proposing more hotels pop up in the downtown area.

Downtown Seattle Sheraton, photo courtesy of destination360.com

Downtown Seattle Sheraton, photo courtesy of Destination360.com

According to the Times, one of those proposals includes a hotel with 1,200+ rooms, which is larger than any hotel in the area except for the Seattle Sheraton hotel. If all of the projects presented were to be built, the Seattle hotel industry would increase by more than 15 percent. Developers like Touchstone, Kauri, and Daniels Development among others all have projects in various stages of planning for construction, and Seattleites looking for hotel living should keep an eye out for upcoming hotel projects that include apartment rentals or sales planned into the space as well. For more information on upcoming projects in the Downtown Seattle area, visit the Seattle Times.