Building Tops Out at Luxury Seattle Tower – Multi-Housing News

22July 2020

Rendering of Spire. Image via Designers of a 342-unit luxury domestic tower in the heart of downtown Seattle have actually peaked building. The 41-story high-rise neighborhood Spire is being developed by Laconia Advancement together with PCL Construction. Found in the waterside community of Belltown, the task is slated to open to homeowners in the spring of 2021.

Building and construction on the tower began in 2018. The unit mix includes one-, two- and three-bedroom apartment or condos with varying layouts and sizes with nature-inspired interiors by Robin Chell Style. Pricing for the apartment homes begins at $600,000 and goes up to more than $3 million for the bigger penthouse systems, according to the advancement team. Realogics Sotheby’s International Real estate is directing sales at the property.

READ ALSO: Construction Hold-ups Continue for Multifamily Developers

Facilities at Spire will consist of a valet lounge, on-site cafe, co-working space, animal wash station, bike storage, personal rooftop club and theater. Health programs will include a studio for yoga, spin and personal training sessions and a top-floor fitness center.

In January of 2019, Laconia and its capital partner Vanke United States secured a$185 million loan to finance the project. Square Mile Capital Management came from the loan together with senior financing offered by The Union Labor Life Insurance Co.

. Found at the corner of Wall Street and Sixth Avenue, the community is within a five-minute walk to major tech schools, public parks and transport. The location has actually recently amassed attention from multifamily investors. Earlier this month, a joint endeavor acquired a 185-unit neighborhood in Belltown from Hartz Mountain Industries for $66.5 million, followed by Oxford Residences paying $320 million for Kiara, a 461-unit luxury rental tower in the South Lake Union community, simply north of Belltown.

In prepared remarks, Laconia Advancement CEO Paul Menzies stated arriving out milestone throughout a challenging time was an “unbelievable achievement” for the advancement team.Source:

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