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April 8, 2020

Uptown project beats the coronavirus clock

By BRIAN MILLER
Real Estate Editor

Photo by Brian Miller [enlarge]
The 68-unit Alloy received its certificate of occupancy about 10 days before the state ordered a moratorium on most construction.

Some apartment projects were completed just before the state-ordered moratorium on most construction owing to the coronavirus outbreak.

One is the new 68-unit Alloy, at 802 Fifth Ave. N. in Uptown. The four-story project broke ground in the late summer of 2018. A certificate of occupancy was issued last month — about 10 days before Gov. Jay Inslee's emergency order.

The 9,600-square-foot corner, at Valley Street, was once home to a 7-Eleven. Blueprint Capital paid $2.9 million for the property in 2016. SHW designed Alloy, and Blueprint apparently acted as its own general contractor. (The project began life at 800 Fifth.)

The team also included Root of Design, landscape architect; Blueline, civil engineer; and Terrane, surveyor. Laura Miller and Connor Sims of Gibraltar are leasing the 1,700 square feet of retail/commercial or restaurant space on the corner.

The leasing website, alloyseattle.com, doesn't yet list rents for the apartments, which range from around 249 square feet to 570 square feet. Most units will be SEDUs (small efficiency dwelling units). Five live-work units face Valley.

Floor plans are named for various metals: cobalt, nickel, mercury, silver, copper, titanium, gold and iron.

No parking is required or included for Alloy, which has a bike room with about 46 stalls. A roof deck has around 700 square feet. Total project size is estimated at 30,647 square feet.

Blueprint is a local REIT run by Mark Knoll and Dan Duffus. It has other apartment projects in planning and development in Ballard, Green Lake, Uptown, Roosevelt and West Seattle. Most are SEDUs and/or micro-apartments with no parking.

Alloy's Uptown site is steps from QFC, and a short walk to South Lake Union.


 


Brian Miller can be reached by email at brian.miller@djc.com or by phone at (206) 219-6517.




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