I had the opportunity to get a preview of the new Aria apartment project that is now leasing. Cascadia Development Partners have created a nice space with an urban vibe and some solid views even from the lower floors. This project has 128 units including 5 townhouses that front West 6th, Street. These offer tenants a direct access to the street and two levels of living. The top five floors contain traditional apartment flats varying in size from studio to two beds and pair of baths. The third floor has a terrace that looks west towards the Port of Vancouver and the Columbia River. This facing is nice as it will block that notorious east wind that blows hard sometimes.
The Aria is well done and the rents, although not cheap by any measure, they are noticeably more reasonable than those on the Waterfront, and perhaps rightfully so. The Grant Street Pier is but a 5 minute stroll from the street in front of the Aria and the foot trip to Esther Short Park is measured in seconds not minutes. The Aria offers the full Downtown experience in a brand new building for what seems to be locally reasonable rents, all things considered.
Kirkland Development announced that Seattle’s ’13 Coins’ restaurant will open a location in the new Indigo Hotel slated to open this summer. 13 Coins expects to be operation in the fall of this year. The restaurant offers a broad menu across all mealtimes with a bit of an Italian ‘flavor.’ Although the restaurant has broad hours it also offers 24 hour delivery / takeout which should suit the Waterfront and Downtown scene well.
Kirkland also presented revised plans for his property just north of the Waterfront, Block 14 on West 7th. The company presented a proposal for a seven story storage facility last year, but has now decided on a seven story senior living residential and mixed use building according to an article in The Columbian yesterday.
Last month I mentioned that the Block 21 Listing sign had a red “in contract” on it. Well I went by last week and noticed the sign no longer has that “in contract” on it. Hmm, interesting. It seems that was either a mistake or perhaps the “deal” fell apart. That does happen in real estate sometimes particularly in commercial and high density residential.
The condo market in the city center tightened again with more listings moving from active to pending and pending to closed than were there new listings.