Nov 03, 2016

Low Income Housing Institute

LIHI Executive Director Sharon Lee and James Tjoa.

The nonprofit LIHI announced that its 25th anniversary gala and auction last month raised $490,000, with proceeds going to a variety of programs including support services, Urban Rest Stops and Tiny Houses. Among those attending the fete, held at the Four Seasons Hotel, were Diego Benites of Boston Capital, Christian Chan of Burrard Group, Bill Reid of Walsh Construction, Cathy Danigelis of KeyBank, and Jeff Foster of GGLO. Also attending: Speaker of the House Frank Chopp. LIHI gave Housing Heroes awards to the Tulalip Tribes TERO Program and James Tjoa, whose brokerage bears his name.

Realty Marketing/Northwest

Realty Marketing/Northwest is auctioning 50 properties in Washington, Oregon and California, most of them foreclosed and now owned by banks. Bids are due by Nov. 15. Here are some of the local trophies on the block: a $2.8 million Lake Kachess lodge built on four acres in 2007 (reserve price now $1,399,500); a 7.5-acre site in Port Orchard zoned for both single- and multifamily development ($495,000 reserve); and (oenophiles take note) a 12-acre Yakima Valley winery, with a vineyard (70 percent planted), two houses, winemaking equipment and a tasting room ($435,000 reserve). The winery was last operated as Tefft Cellars, so check your basement for samples. More info and full listings: (800) 845-3524 and rmnw-auctions.com.

Gene Juarez Salons & Spas

The 45-year-old Gene Juarez Salons & Spas announced it will open a new flagship concept shop at The Shops at The Bravern. It will occupy 17,000 square feet on the Bravern's top floor, and is being designed by SkB Architects. The combined spa/salon is intended to be a model for future expansion and renovations. The company currently operates 10 shops and two schools, and will close its current downtown Bellevue location next summer. (Gene Juarez himself retired in 2011 after selling the company to local private equity firm Evergreen Pacific Partners. The company is now led by Scott Missad.) The salon's landlord will be New York-based Ashkenazy Acquisition Corp., which owns The Shops at The Bravern. Valet parking will be free, of course.

Foss Waterway Development Authority

Attention, mariners! The FWDA is seeking salty new blood to fill three vacancies on its board of directors. The seven-member board is charged with implementing the Foss Waterway master plan, including the sale, lease, development and management of public properties. Board members typically convene two to six hours a month, plus a one-day annual retreat. Terms are three years. The city of Tacoma is seeking people with experience in finance, real estate, law or construction management. Board members are appointed by the city Economic Development Committee and confirmed by the City Council. Apply to cityoftacoma.org/cbcapplication or contact Amanda Punsalan at (253) 591-5178.

Summit Homes

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Canyon Terrace

Local homebuilder Summit and San Diego-based Presidio Residential Capital have started selling 70 houses in Canyon Terrace in Renton, located at Southeast 192nd Street and 124th Avenue Southeast. They range from 2,265 to 3,132 square feet, with up to five bedrooms. Prices start in the low $500,000s. Tukwila-based Summit has built over 3,000 homes over 30-plus years. Presidio has over $2 billion in assets under management. The two firms have partnered on 11 projects to date.

Oct 27, 2016

222 Market

Rendering courtesy Artisans Group [enlarge]

Broth Bar at 222 Market

The new Olympia food hall 222 Market has signed another tenant with Broth Bar, a Portland cafe opening its second location. Sisters Tressa Yellig and Katie Yellig debuted their first Broth Bar in August of 2015. The market is scheduled to open Nov. 19 at 222 Capitol Way N., in a former Packard car dealership. It was developed by Lela Cross, Gray Graham and Joy Graham. Other tenants are Chelsea Farms Oyster Bar, Blind Pig Spirits, Sofie's Scoops and Peddler Bistro. Design-build firm Artisans Group created the space. Find more info at 222market.com.

Skanska

McCullough

New York-based Skanska USA announced that Murphy McCullough has been promoted to executive vice president and regional manager for commercial development in Seattle. While with Skanska, McCullough has worked on Alley 111 in Bellevue, Stone 34 (the Brooks Sports headquarters and flagship store in Fremont), and Tommy Bahama's headquarters at 400 Fairview in South Lake Union. The Seattle native and UW graduate is currently leading development of 2+U, a 38-story tower at Second Avenue and University Street that is still in design review. 2+U will have about 18,500 square feet of retail, 30,000 square feet of public space and up to 665,000 square feet of office space. The site is owned by the Samis Foundation. Pickard Chilton Architects of New Haven is designing the structure to be raised on distinctive diagonal legs. Completion is set for 2019.

Guild Mortgage Co.

The independent mortgage lender announced its recent move to SLU, taking 5,000 square feet in the 1000 Dexter building. Guild said the company has grown from 15 to 22 employees in the last year and needed more space. In a statement, its Northwest regional manager Charles Nay said, “The Seattle housing market has grown rapidly over the past few years, and the Guild Mortgage branch in the area has grown accordingly to meet that demand.” Founded in San Diego in 1960, Guild now has 234 offices in 25 states. Nationally, it generated loan volume of $13.8 billion last year and servicing volume of $22.3 billion.

SVN/Raven

Gleason

Irvine, California-based broker and advisor SVN announced that two of its Seattle area advisors have joined its national coporate real estate and advisory services group. Chad Gleason is presently a regional director for SVN and principal in the Kent-based Raven Commercial Real Estate, which holds the SVN franchise for the Seattle area. Broker Suria Elbietar joined Raven this summer after 11 years as a property manager and store developer for Starbucks. In a statement, SVN said that both “will represent corporate clients in the fulfillment of their industrial and office property needs in the Puget Sound area with negotiating contracts and managing business operations to optimize their real estate assets.” The SVN franchise network was founded in 1987.