Jul 11, 2019
Tarragon announced the recent hiring of Caitlin Luebbe as its new director of marketing. She makes the move from Embarcadero Capital Partners in San Francisco. She has local roots, with a degree from Western Washington University. Tarragon's Dennis Rattie said in a statement, “We are excited to have Caitlin's experience and energy in the office. She is a great addition to the Tarragon team.”
The iconic Smith Tower sold in January, as part of a larger portfolio sale, from Unico Properties to a Goldman Sachs-related LLC for almost $138 million. Unico still manages the building, where it had made significant investments since purchasing it in 2015. Those included a refurbished lobby and observatory, new shops and historical exhibits, and a new bar and cafe called Temperance in the old Chinese Room on the 35th floor. And this month the Pioneer Square landmark received a Toby award during the annual Building Owners and Managers Association conference in Salt Lake City. The category was for historical buildings. Unico's Lynda Collie said in a statement, “We are honored to receive the prestigious Toby award from BOMA International for our commitment to providing our best-in-class building operation, management and service at Smith Tower.”
Conner Homes announced the internal promotion of Michael Lorenz as its new president. After 50 years at the family owned firm, outgoing president Charlie Conner will assume the new title of founder. He said in a statement, “Conner Homes is in a critical time of growth in the home building industry Michael's proven leadership, experience and vision will accelerate and facilitate our growth.” Lorenz has been with the company for four years, following executive posts at Quadrant Homes, Richmond American Homes, and DR Horton. He added, “I am thrilled to have earned the trust of the Conner family for the opportunity to lead such a great local company.”
The 24-story Murano, at 620 Terry Ave. on First Hill, topped out in December. Now operator Leisure Care has announced new details for the 243-unit “luxury senior living tower,” which is expected to open this fall. Rents will begin at $4,950 per month, an alternative to some buy-in senior communities. Leisure Care's Andy Gomes said in a statement, “Murano is billed as the place where retirement and luxury playfully mingle. We offer an active and engaging lifestyle to the 55-plus and senior communities, each who values continued connectedness to the vibrancy of Seattle.” The LEED-silver-targeted building includes memory-care and independent living units. Amenities will include concierge services, a gym and personal trainers, travel services and educational programs, an art studio and theater, three dining areas and a separate rooftop deck and bar. The marketing website is muranoseniorliving.com. Columbia Pacific Advisors is the developer, Ankrom Moisan is the architect and PCL Construction Services is the general contractor. Columbia Pacific ground leased the corner property, steps from the Frye Art Museum and numerous Pill Hill medical facilities, from the Archdiocese of Seattle.
NAIOP's breakfast meeting this month is set for 7 a.m. next Wednesday at the Hyatt Regency Lake Washington in Renton, which is part of Seco Development's new Southport, at 1053 Lake Washington Blvd. N. The topic will be the industrial market, with Travis Hale of Panattoni acting as moderator. Participating on the panel will be Tyler Litzenberger of Vector Development, Tony Miltenberger of Kidder Mathews and Mike Wood of Norris Beggs & Simpson. Details and registration: naiopwa.org.
Jul 05, 2019
The $51 million expansion and renovation of the Mt. Baker Village affordable housing complex, currently underway, has been named a finalist in the preservation category of Affordable Housing Finance’s 2019 Readers’ Choice Awards. Owner Mt. Baker Housing says the complex, when fully updated, will have eight buildings and 156 units (including 49 new apartments). All rents are priced for those making 30% to 60% of area median income. The original 107-unit, seven-building complex at 2914 S. McClellan St. dates to 1957. MBH was founded in the 1988 to preserve it, and the first renovation was that same year. MBH’s Mike Rooney said of the recent award nomination, “Being acknowledged on a national scale for our efforts is a tremendous honor. This project’s broad scope and unique financing, along with the tenant coordination involved, make it likely one of the most complex projects we’ll ever complete.” The current renovation/expansion project was designed by ARC Architects, is being built by Rafn Co., and was funded via Beacon Development Group. Beacon’s funding sources included the National Equity Fund, Union Bank, the Washington State Housing Finance Commission, Seattle Housing Authority and city’s Office of Housing. Completion is expected this fall. MBH will then have about 420 units spread over seven locations, most in South Seattle.