Sales representatives at The Residences at Fairview will host a public open house this weekend, Saturday, October 12th and Sunday, October 13th from 1–4 p.m to offer remaining homes in their first phase of this 21-unit lakeside development. With occupancy scheduled for March 2013, the limited collection of homes range in size from 2,500 to more than 5,000 square feet (for combined homes) and include presale pricing starting from $1.3 million.
“With construction now underway homebuyers are locking into this never before, never again opportunity,” says Nick Glant, the listing broker at Northwest Group Real Estate. “They are able to secure a preferred home plan (including personalization options), enjoy presale pricing and leverage today’s historically low interest rates all while positioning to sell their existing home early next year in a rising marketplace. With presales it’s the best of both worlds.”
Recently, current and prospective homebuyers reveled at their new view when a scissor lift was brought recently to the construction site. A beautiful, early fall evening greeted the would-be neighbors while conversations sparked around quintessential Seattle lifestyle attributes such as boating, rooftop BBQ’s and walking to nearby restaurants.
“From our elevated perch it was clear that every home will have a direct view of the Space Needle from the front patio and from the private roof terraces,” said Carrie DeBuys with Realogics Sotheby’s International Realty, a co-listing broker who also happens to be an Eastlake resident. “The Residences at Fairview is truly unique in that it offers indoor/outdoor living, a theater of lakefront activity with seaplanes coming and going, the beach and marina access—and that it’s all within this charming neighborhood on the edge of a booming metropolis.”
The exclusive residential community is part of the Wards Cove master plan, which includes a new marina, a commercial office building, a dozen floating-home sites and a reclaimed beach for the community.
The Residences at Fairview is fondly referred to as a “horizontal high-rise” given the quality of construction and the fact each home is like owning a penthouse on the lakefront. The multi-phase development is being built in seven clusters of three attached residences – each comprising of three stories and topped by a roof deck featuring a fireplace and provisions for an outdoor spa, wet bar and green roof high above Lake Union. Inside the architecture features in-building parking, two or more bedrooms and a reverse floor plan where the main living level is the top floor boasting a broad footprint and 11-foot ceilings with abundant glazing for natural light and expansive views. Finishes inspired by NB Design includes European-styled cabinetry, bamboo flooring, natural stone surfaces and brand-named appliances and fixtures.
“The Residences at Fairview has changed the game with this project,” said Felicia Brooks a broker with Coldwell Banker Bain that is representing one of the buyers. “It is perfect for my clients downsizing from Mercer Island or it is a step up home for just about anyone looking for a more urban lifestyle without being in a condo building. I don’t know of any project where they can get all the attributes being offered without the responsibilities of single-home ownership: waterfront access, moorage options, exhilarating views, and a really clean captivating design. Top notch townhomes are rare and this one has it all including a private garden, garage and panoramic roof deck views.”
Not only is The Residences at Fairview among the first of the new developments to be introduced for sale in more than five years, it’s also likely to be the last of its kind.
“Unlike a typical condominium that really doesn’t vary much from building to building, we’re offering a product that is matchless in its design, location and lifestyle – now and forever,” adds Glant. “Our location is irreplaceable and our market timing is favorable given what appears to be rising interest rates and rising home prices ahead. I think our buyers know they will own an asset that is collectible.”
The Residences at Fairview
Open 1–4 p.m. Sunday at 88 Hamlin Street, Seattle
Priced From $1.3 million
206-342-0204 or FairviewLakeUnion.com