October 5, 2016

Polygon NW plans 98 housing units for site along Dexter at Lee Street

Image courtesy Weinstein A + U [enlarge]

Colliers is listing the project at 1405 Dexter Ave. N., and said the concrete-frame building will have “condo programming.”

The Dexter Avenue corridor is already super hot when it comes to new development, and now Polygon Northwest has assembled a 19,000-square-foot parcel where it wants to build a nine-story, mixed-use complex with 98 housing units.

Colliers is already listing the project and said the concrete-frame building will have “condo programming.”

The team expects to get a master use permit this month and could start construction in April 2017, with completion by fall 2018.

The site is at 1405 Dexter Ave. N., at the northwest corner of Dexter and Lee Street. Lee Street dead-ends below Aurora Avenue North.

A one-story building that currently houses a gym and winemaking co-op would be demolished.

The main portion of the property was purchased in 2015 for of $4.5 million; a smaller portion is still separately owned. The site is opposite Holland Partner Group's massive Westlake Steps project, which will have two buildings between Dexter and Westlake Avenue.

(Editor's note: Editor’s note: This story has been changed to clarify who owns the property.)

Architect Weinstein A + U is working with Polygon and has been through two rounds of design review with the city, which also has construction documents on file. No building permit has been issued.

In the current configuration, 1405 Dexter would have nine stories above grade, 98 dwelling units, 114 parking spaces (mostly below grade) and 4,300 square feet of ground-level retail space.

The 1405 Dexter project would block at least some views for residents of Nautica Condominiums, at 701 Galer St., which was built in 1992. That L-shaped condo sits partly uphill and to the west of 1405 Dexter.

Colliers broker Dylan Simon has an exclusive listing for 1405 Dexter, which Colliers calls “an exceptional opportunity to the condominium and apartment developer alike.”