JUST LEASED
- One Pacific Tower #1701: 2bd/2ba, $3500 per month
- Cristalla #1603: 2bd/2ba, $3400 per month
- 5th & Madison #1601: 1bd+den/1.5ba, $2995
- Magnolia Charmer: 4bd/3ba, $2795 per month
- Live2200 #S903: 1bd+den/1ba, $1850 per month
- The Parc #430: 2bd/1ba, $1850 per month
- Arbor Place #303: 2bd/2ba, $1695 per month
- The Vine #556: 2bd/1ba, $1695 per month
- Braeburn Studio, $995 per month

PENDING APPS
- Cristalla #2111, $8000 per month

WOW- has been a very busy two weeks…here is what has been going on:

JUST LEASED
- Mercer Island home: 2bd/2ba + MIL, $1775 per month
- Cosmopolitan #1004 & #1104: 2bd/2ba, $1995 per month
- The Continental #2502: 2bd+den/2ba, $4000 per month
- The Matae #502: Studio, $1095 per month
- Live2200 #S1209: 1bd+den/1ba, $1950 per month

PENDING APPS
- Arbor Place #303: 2bd/2ba, $1695 per month
- Braeburn: Studio, $995 per month
- Live2200 #S903: $1850 per month

NEW LISTINGS!
- BELLTOWN   One Pacific Tower #1504 & #1701: 2bd/2ba, $3500-$4000 per month http://www.seattlerentals.com/13925
- BELLTOWN   Avenue One #1001: 2bd/2ba, $3700 per month http://www.seattlerentals.com/13933
- BELLTOWN   Cristalla #1603: 2bd/2ba, $3400 per month http://www.seattlerentals.com/10452
- BELLTOWN   Parc #430: 2bd/1ba, $1850 per month https://www.seattlerentals.com/13927
- MAGNOLIA  4bd/3ba Home, $2795 per month http://www.seattlerentals.com/13928

Just in, courtesy of WMFHA:

The Built Environment Committee of the Seattle City Council has adopted a proposal that would authorize a mandatory licensing and inspection program throughout the city.  The legislation now goes to the full council and will most likely appear on the council’s agenda for June 1, 2010.  The committee acted today because of the impending deadline on June 10, 2010.  On that date, a new state law takes effect that puts some restrictions on any rental inspection program a city may choose to implement.  If Seattle adopts a rental inspection program before June 10, the program can be amended later and will not be subject to the new state law.

The proposal approved today contains several significant features:

1.     Beginning April 1, 2012 all rental housing owners or operators will have to be licensed and to get that license the rental property must be inspected.

2.     Some rental properties are exempt including owner-occupied rental units; rental units owned or operated by a government unit of agency; rental units that receive federal funding and that are inspected as part of the funding program.

3.     Inspectors will be required to certify that the building and units meet certain standards set for in the Seattle Housing Code and there are no conditions that impair or endanger the health or safety of the tenant.

4.     Inspection by sampling will be allowed for larger properties.  If the property has more than 20 units, no more than 20% of the units need inspection up to a maximum of 50 units in each building.

Two separate resolutions were also put before and discussed at the meeting.  The first resolution asks the Department of Building and Development (DPD) to prepare a report to the council by July 1, 2011 evaluating the effectiveness of the new civil search warrant tool that has been given to the city.

The second resolution is significant because it requests a report from DPD by July 1, 2011 with recommendations “developed after working with stakeholders, for implementing the rental housing inspection program.”  The report outlines 10 areas that the report should analyze including - appropriate inspection standards; sampling; whether inspections should be targeted to certain areas or citywide; how often properties should be inspected; how should the program be commenced.

More information to follow!

For more details, click here! 

SEATTLE, April 10 – Carpenter’s Tower, LLC, the owner of the 25-story McGuire Apartments in the Belltown area of Seattle, today announced plans to vacate the building at Second Avenue and Wall Street over the next several months due to extensive construction defects which are financially impractical to repair.

“While there are no imminent tenant safety issues, the experts involved in the investigation and repair of the building have indicated that there will be structural issues that could present safety issues by 2011 and beyond,” said Brian Urback, with Kennedy Associates, the real estate advisor for Carpenter’s Tower.  ”The McGuire is not in imminent danger of a structural failure and the experts have advised that the building be vacated by the end of 2010.  Under the circumstances, we are taking steps to vacate the building over the next several months and to help our tenants relocate.   Since the necessary repairs are impractical, the decision of the owner is to dismantle the building.”

The building owner has informed officials at the Seattle Department of Planning and Development (DPD) of the extensive construction defects, which principally involve corrosion of post-tensioned cables and concrete material and reinforcement placement deficiencies.  The post-tensioned cables are corroding because the ends of the cables were not properly protected with corrosion preventative paint, and the grout used to seal the cable ends and anchors was not the specified non-shrink grout and was defectively installed.  As a result, water leaked into these areas and caused the cable ends to rust, and then corrode.  In addition, reinforcement placement in the building’s exterior frame is defective, resulting in cracking and spalling of concrete, as well as structural impairment.

DPD has written a letter indicating it will issue an order later this year finding the building no longer safe to occupy and requiring the owner to “correct the unsafe conditions or vacate the building by December 31, 2010, or earlier.”  The letter also indicates that the city is “requiring that the owner monitor the building condition and periodically submit inspection reports to DPD.”

“We are providing an incentive package to help our tenants relocate much faster than the end of the year,” Urback said.  ”We recognize that this is a major inconvenience so we are trying to make it as easy as possible under difficult circumstances.  We are providing what we think are generous financial incentives if they move quickly.  We are paying moving expenses.  And we are having our building staff help them find new apartments.”

Carpenter’s Tower is owned by Carpenters Union, Local 131, and by MEPT, the Multi-Employer Property Trust.  Construction of the McGuire was completed in 2001.  There are 272 residential apartments and four street-level retail spaces in the building.  Carpenter’s Tower has filed suit against the general contractor responsible for the construction of the building and against the building’s architects.

SOURCE Kennedy Associates Real Estate Counsel, LP

602 W Highland Drive
6bd/7.5ba (7000SF)
FOR LEASE- $15,000 per month, fully furnished

Located on Seattle’s most coveted West Highland Drive, surrounded by heritage homes, manicured lawns and well-established estates, this fully furnished 6 bedroom, 7.5 bathroom 7000 SF home is poised on private corner lot adjacent to a dedicated drive circle with iconic views of downtown Seattle, Elliott Bay and surrounding mountain ranges. It is within walking distance of Queen Anne’s most famous view parks and play areas, as well as several residential amenities such as Metropolitan Market, Trader Joe’s, Top Pot Doughnuts, Via Tribunali and local coffee shops. 
 
Completed in 2006, this grand residence is a blend of traditional French provincial architectural design with transitional aesthetics and modern conveniences. The formal home plan is designed for entertaining flexibility and features five terraces including a roof top terrace with a fireplace, adjacent wet bar and full bath; a view terrace with a Blackpine™ eight-person hot tub with audio/visual system; and an expansive main level terrace with a NanaWall™ window wall system that opens to the living room- perfect for those warm summer days! The double height entry, interior Juliet balconies and voluminous ceilings (10’ main level and 9’ second level) create a very open, bright and inviting ambiance that magnify the commanding vistas of the city, Elliott Bay, Mount Rainier and Olympic Mountains throughout.

For the culinary entertainer, French doors off the main entry lead to the formal dining room with an oversized gas fireplace, seating for up to twelve guests, chocolate-stained solid cherry hardwood floors, vaulted ceiling with indirect valance lighting accented by silver leaf ceiling, custom-designed chandelier and wall sconces on dimmer controls. There is also an adjacent wet bar with wine chiller and direct access to kitchen.

The kitchen features chocolate-stained cherry hardwood cabinets with frosted glass doors and under cabinet lighting, knife-mitered slab onyx island surrounded by double-edge slab granite countertops, self-closing drawers with Valli & Valli™ cabinet hardware, Kohler™ Professional Series™ 48-inch three basin stainless steel sink, chef’s choice overhead faucet with ½ hp disposal, 8-foot+ kitchen island with bar seating for four, 48-inch, Dacor™ six-burner gas range and oven, Viking™ stainless-steel range hood with variable speed and direct venting, KitchenAid™ vented trash compactor, Sub-Zero™ under-cabinet refrigerator, two built-in Bosch™ dishwashers adjacent to kitchen sink, Viking™ 48-inch side-by-side refrigerator / freezer with water / ice dispenser, Dacor™ wall oven, two microwaves, Miele™ espresso machine and integrated Sony™ TV.

The generous master retreat showcases panoramic views of city lights and Elliott Bay with south facing exposure and a wrap-around terrace. Offerings also include an expansive custom walk-in closet with a built-in safe, options for additional his-and-hers closets, a gas fireplace with limestone surround featuring an integrated 50-inch Pioneer™ flat screen TV and a large master bathroom with private his-and-hers water closets, ebony wood and silver leaf vanities with separate make-up area, an oversized Kohler™ jetted bathtub with ceiling-mounted tub filler and a custom glass shower featuring Kohler™ “body spa” systems and steamer.

This home is complete with a home audio system with multi-room sound controls, custom furnishings by Garret Cord Werner, radiant in-floor heating, multiple-zone air conditioning throughout home and a Honeywell™ security system with video camera pre-wire. 

View more details at www.602WestHighland.com or www.seattlerentals.com/13514

Courtesy of WMFHA & Landlord Solutions Inc …

HB 2484:  TERMINATION NOTICES: 
This is a new bill and it was given a hearing in the House Judiciary Committee on January 13.  The bill would require landlords and tenants to give 30-days notice to terminate a month-to-month tenancy.  It would also require a landlord to give 60 days notice if the tenancy has been in existence more than one (1) year.  The termination date could be any day of the month.  The bill also requires a refund of any prepaid rent and provides that a tenant who gives notice but fails to vacate is guilty of unlawful detainer and can be evicted.  Landlords testified in opposition to the bill but stated they would support a bill providing for a change in the law to require 30-days notice so long as the notice could be effective on any day selected by the landlord or the tenant.

HB 2438:  DEFINITION OF SERVICE ANIMAL:  
This bill would eliminate the requirement of training or certification for a service animal under our state laws regarding discrimination against the disabled in real estate transactions.  A committee hearing was held on January 13.  Landlords testified in opposition.

HB 2622:  TENANT SCREENING:  
This is a new bill and has some similarities to a screening bill introduced last year.  It requires that a tenant’s screening report be “portable” for 60 days after it was initially issued.  It also prohibits screening companies from reporting a filed eviction unless a final judgment was entered in favor of the landlord and against the tenant.  Finally, it requires a landlord who denies an applicant or requires a larger security deposit, a co-signer, or some other increased security to give the applicant a written statement setting forth the reasons for the “adverse action.”  There is a hearing scheduled for January 19 

SB 6459:  INSPECTIONS AND CIVIL SEARCH WARRANTS:  
Representatives for landlords, tenants and various cities have been meeting for the past 3 months to try and work out mutually agreeable legislation that would put reasonable restrictions on any mandatory inspection program that a city might adopt.  In return for these limitations, cities would be given authority to obtain a civil search warrant for rental property to look for housing code violations.  In order to obtain the warrant, the city would have to satisfy a judge that there was “probable cause” to believe that code violations existed.  The city would not be able to go on a “fishing expedition.”  There is a hearing set for January 19 on the bill in its current draft form.  The parties have also agreed to meet again on January 20 to continue their discussions in an attempt to resolve remaining disagreements.

HB 2618:  STREET UTILITY TAX:  
This bill authorizes cities to adopt a “street maintenance utility” to enable the city to charge property owners for street maintenance in relation to the burden that their properties put on city streets.  This would mean that multifamily property owners would be charged based on the number of units at their property.  A hearing is scheduled for January 20.

HB 2592:  PROHIBITING INCENTIVES FOR TOWING FROM PRIVATE PROPERTY:  
Several months ago a local TV station highlighted a local towing company that was offering rewards and gift cards to resident managers based on the number of tows authorized by the property.  This bill would make the practice illegal.  A hearing is set for January 18.

HB 2413 / HB 2414:  CRIMINAL STREET GANGS:  
These 2 bills are an attempt to deal with gang activities and the adverse affects that such activities can have on a community.  The first bill sets up procedures that allow law enforcement to seize, forfeit and sell real or personal property used in connection with gang violence.  The second bill authorizes occupants of a multifamily property and neighbors or any rental property to file a compliant seeking a declaration that the property is a nuisance.  If a court determines that the property is a nuisance, the property can be closed for up to one year.  This bill had a hearing on January 14.

SB 6261:  CLARIFYING MUNICIPALLY OWNED UTILITIES’ COLLECTIONS FROM OWNERS:  
This bill will make it clear that a municipally owned electric utility can only hold a rental property owner responsible for a maximum of 4 months unpaid bills if the tenant fails to pay.  Current law provides that the utility has a lien against the property for up to 4 months of unpaid bills.  However, some utilities have charged owners and required owners to pay more that 4 months of bill in order to continue, transfer or restore service.  A hearing is set for January 19.

HB 2469:  CANDIDATES ACCESS TO TENANTS:  
This bill provides that a landlord may not unreasonably deny access to the premises to political candidates or their agents or those who are advocating for or against ballot measures.  However, the bill would allow a landlord to provide in the rental agreement that the tenant authorizes the landlord to deny such access.  No hearing has been set. 

For additional information- visit http://www.leg.wa.gov

Sitting across the street from Olive8 Condominiums, The Olivian Apartments (809 Olive Way) have started advertising vacancies for their 1 bedroom, 2 bedroom and 2 bedroom + den floorplans.

As of yesterday, the prices are being quoted at:

1 bedrooms: $1799 - $2552 per month (753 to 1042 SF) http://www.seattlerentals.com/11455
2 bedrooms: $2850 per month (1287 SF) http://www.seattlerentals.com/11456
2 bedroom + dens: $6000 per month (1916 SF) http://www.seattlerentals.com/11458

Here are some marketing comments:
With its monumental presence, high design and luxurious amenities, The Olivian caters to those who crave more from life. It’s easily the most anticipated luxury leasable residence to appear in downtown Seattle in years, taking high-rise living to new heights.

Select from a variety of floor plans, all with open layouts and expansive window walls. This 27-story modern tower features luxuriously appointed two bedroom + den residences as well as exclusive penthouse residences. You choose what best fits your personality!

I have yet to tour The Olivian, but will be visiting Rollin Street Flats (a neighboring condo-to-apartment conversion) tomorrow – stay tuned!