Planned 27-Lot Community Offers New Single-Family Homes Priced from the $1.3 Millions
A much-anticipated soft opening was recently hosted by Urban Equity Development for their latest offering, The Bridges at Kirkland—an inspired residential enclave nestled between Juanita Beach Park and the Villages at Totem Lake at 11431 116th Street in Kirkland. Scores of industry insiders, brokers and prospective buyers were among the first to tour the newly completed model home: a 3,641-square-foot, five-bedroom, three-and-a-half-bathroom offered at $1,950,000. Other plans remain under construction and range from 2,540 to 3,054 square feet, each comprising of five bedrooms and two-and-a-half to three-and-a-half bathrooms with introductory pricing between $1,371,400 and $1,691,000. At least one presale has already found a buyer for a 2,901-square-foot home that sold for $1,522,800 and will be completed by late summer 2020.
“Our sneak peek opportunity over the past two weeks has been well attended and we look forward to a more formal opening next month when more homes are completed,” said Lorraine Rotanelli, the listing broker with Realogics Sotheby’s International Realty. “Prospective buyers are elated to find such efficiently designed and well-appointed single family homes at these attractive price points.”
Despite the impact of the COVID-19 pandemic, the Kirkland real estate market has demonstrated significant resilience. Since the new year, pending sales of single family homes have skyrocketed from 28 houses in December to 59 in February. As of March 22, 2020, already 50 homes have found buyers, which is an increase of 14 percent of the same period a month earlier. It’s also noteworthy that 43 closings have occurred so far in March, up 79 percent over the prior month, according to data drawn from the NWMLS.
“Buyers are encouraged by the value being offered combined with the historically low interest rates,” adds Ms. Rotanelli. “Our market is definitely bullish given all the job growth spurred on by tech giants on the Eastside—most are an easy commute from home here at The Bridges at Kirkland.”
Ms. Rotanelli describes the community aesthetic as a hybrid between Northwest Contemporary and Modern Farmhouse, both tremendously popular concepts with architecture and interior design. Features include open floor plans with voluminous ceiling heights and oversized windows, generous use of engineered hardwood floors and a gas fireplace on the main floor, and a fully appointed kitchen with all-wood cabinets, quartz countertops, and Viking appliances (with gas cooking). Each home also includes smart lock technology, a central vacuum system, and optional home automation systems for audio/visual security personalization as well as a prewire for electric car charging in the two-car garages. Outside, large sliding doors lead to covered patios complete with gas heating for indoor/outdoor living. In addition to its quiet cul-de-sac environment, the common areas include a playground.
“This community is living legacy being built on more than 5.5 acres of land, much of which has been in our family for more than 50 years,” said Samuel Scrivanich of Urban Equity Development. “The Bridges moniker responds back to the pathways my grandfather built over wetlands decades ago but also to the connections made between the many generations that will soon live here.”
For more information, visit www.UrbanEquityDevelopment.com.