Welcoming Fauntleroy Place!

scott@alkihomes.com — Tue, 14 Feb 2006 05:00:00 GMT

West Seattle is getting a Whole Foods Market to be located in enclave at the corner of Fauntleroy Place and between the 39^th and 40^th Avenues. You can see a satellite map of the location by clicking here.

There are ( always are *grin* ) lots of rumors about various exciting projects in West Seattle, but this one finally has pen to paper. Not only has Whole Foods has signed a 25 year lease, but they came to us! As a former resident of Houston, TX ( I was once a displaced Pacific Northwesterner ), I can say without hesitation that the values of this Austin, TX based food retailer are a perfect match for West Seattle!

The project, architected by our own local Stricker Cato Murphy Architects, P.S. is being developed by Northwest Resource Management Group including their subsidiary BlueStar Development. I was fortunate enough to be able to visit recently with Eric Radovich ( Managing Director of Public Relations and Marketing ) and Easton Craft ( Project Manager for BlueStar Development ) who provided some additional information on the project.

Originally estimated for a 2007 opening, current estimates point toward a project launch in late 2006 and an opening in mid 2008. Although an early opening of the retail space might be possible, logistics of the current plan dictate opening of both the residential and retail space in approximately the same timeframe.

The estimated rental rate of $1.90 square foot is very much inline with current “higher end” apartment options in West Seattle, considering these rates are projected out for two years yet. Rates currently run as low as $1.25 up to about $1.70 per square foot in this area. Although the precise distribution has not yet been confirmed, studio, studio/den and two bedroom units are in the mix.

Of the 566 planned parking spaces, 270 are reserved for the residential portion of the project. This represents about 1.3 parking spaces per unit, which is above the minimum requirements here in Seattle. Parking will be physically divided by floors, so that residents are not subjected to the commercial traffic & vice versa… altogether a nice planning touch from the folks at NWRMG.

Exciting times in West Seattle! And more exciting projects on the way.

On West Seattle

Welcoming Fauntleroy Place!