May 28, 2013

Greystar buys land for SLU apartments

Image by Weber Thompson [enlarge]

San Francisco-based Greystar Real Estate Partners paid $21.87 million for three pieces of land for a seven-story apartment complex it is planning at 400 Boren Ave. N., property records show.

An entity related to Vulcan Real Estate owned one of the parcels. Another was owned by an entity called Lake Union Investors LLC, which is managed by Jennifer Trenk. Kevin Westberg, owner of Lake Union Wholesale Florist, which was on one of the parcels but is now closed, is a member of the LLC. The third site was owned by an LLC managed by Kevin Wold.

(Editor's note: This story has been changed to say that Trenk is the manager and Westberg is a member of Lake Union Investors LLC. )

Greystar's project will have 282 units and two levels of underground parking. It will occupy the east half block of Boren Avenue North between Harrison and Republican streets.

The complex will be two buildings with an “entry court,” according to the project architect Weber Thompson.

One side of the building will be shaped like an “E” to create several courtyards for residents.

Units will be a mix of studios, open one-bedroom, and one- and two-bedrooms. Some will be at street level, with stoops and gated entries to create a buffer from the street.

Amenities include two rooftop decks and gardens with seating.

Compass General Construction is the general contractor.

Greystar got design approval last year and its construction permit in March.

Greystar said it has developed more than 9,900 units since 1998. It has 18 offices around the country.