homeWelcome, sign in or click here to subscribe.login
     


 

 

Real Estate


print  email to a friend  reprints add to mydjc  

October 26, 2020

Another condo switch: 244 U Village units now leasing as apartments

By BRIAN MILLER
Real Estate Editor

Rendering by DLR Group [enlarge]
U-Place began construction in a very different market than the one in which it’s opening today.

The leasing website is live, and there's a phased certificate of occupancy for U-Place, a recently completed six-story, 244-unit project at 4609 Union Bay Place N.E., just east of University Village.

The project began life as a condominium; it finished as furnished apartments with an in-house restaurant. The developer, ZQH Investments, has roots in China, where Bellevue-based Allen Zeng got his start.

The site was assembled for about $7 million during 2014 and 2015. Public records indicate a construction loan for over $50.7 million, which was issued last year by Trez Capital of Vancouver, B.C.

DLR Group was the architect, and Venture General Contracting was the general contractor. The project also includes one level of underground parking with 68 stalls. Bike rooms have 138 stalls. There's also a roof deck. Units run from studios to two-bedrooms.

(Editor's note: This story has been changed to add the name of the GC.)

U-Place, also called University Place, replaced some old industrial buildings on the once industrial strip that's seeing more new apartment construction.

The building, begun under the old zoning, overlooks both Safeway and QFC. It's quite walkable to U Village, too. The ground floor has about 20,600 square feet of commercial space — originally programmed as a kind of food hall, plus some shops. But that was pre-pandemic.


 

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




Email or user name:
Password:
 
Forgot password? Click here.