There is a new apartment project being planned on Capitol Hill, on the corner of 14th Ave E & E Republican Street, that is said to be for renters looking for a boutique building to live in, with retail and a great walkable score. According to the Daily Journal of Commerce, new developers John Schack and Dugan Earl have formed a development and consulting company in the Seattle area called Revolve, and will begin construction on their first project this summer. Finding the perfect site for the proposed 35 unit 4 story apartment complex wasn’t easy. The dynamic due apparently spent 6 months analyzing some 150 sites on Capitol Hill, Fremont, Ballard, Columbia City and West Seattle; all urban areas predicted to continue blossoming with renters.
While they were knee deep in the search, they ran into a road block, and a big one at that. According to Schack, “once a property is listed, it’s blood in the water for piranhas.” They found themselves coming in second, and being beat to the punch when expressing interest in any given project, so they found an alternative option. They approached sites that were of interest to them that were off-market, and purchased a 10,183-square-foot Capitol Hill site in November 2011 that is soon to be the home of their first project. The building will have 33 one bedroom units, 2 studios, and 19 stalls for below ground parking, a courtyard for entertainment, and a roof top deck. For more news to come on when the project will be leasing units, visit Revolve’s news blog.