The other week, I wrote about the proliferation of Madrona real estate development and what it indicated to me: that the Seattle real estate market is improving. Since my blog, two things came to my attention to bolster my thoughts. One, the May local real estate market numbers were released and again there were gains in the local real estate values: especially in certain Seattle neighborhoods such as Leschi/Mt. Baker. Two, I noticed that the Pike Station on 34th and East Pike is reporting that 5 of the 7 Madrona townhomes have already sold. As most Madrona residents know, the Pike Station is still far from completion so having a majority of the homes sold is encouraging.
If you want to know more about the Seattle real estate, please feel free to contact me.
The article’s theme was: sometimes it is okay to see local Seattle “landmarks” go. (The building is not an official landmark). The article spoke about how the Madrona neighborhood has been accepting of the change to its real estate unlike other Seattle neighborhoods such as Green Lake with the “Twin Teepees trama” or Ballard with the “Sunset Bowl bluster.” The Seattle Times also gave a good history of the Madrona property with interviews with the current owner Tom Flood (owner since 2002) and previous owner Marjorie Lutton (owner from 1966-2002).
Check out the first link above to the Seattle Times’ article to learn about a sliver of Madrona’s history and to get ready for the newest addition to the Madrona Business District.
This Saturday there will be a celebration to say goodbye to the old Madrona gas station located on the corner of 34th and Pike and to welcome the new seven green townhome project that will replace it. Seattle permits have been obtained and the owners of the Madrona real estate are moving forward to build the “Pike Station.” The Pike Station will consist of 6 live-work townhomes and one residential loft. Each townhome will have both ground floor retail which opens to an interior courtyard and a 2 story, 2 bedroom, 1.5 bath apartment above it. The project will be environmentally friendly making extensive use of natural, sustainable materials and include such features as a system to reuse rainwater.
The Madrona neighborhood is invited to say farewell to the Madrona Landmark and welcome the new addition to the Madrona business district this Saturday, January 28th from 6 – 9 PM. Food, drink, music and art activities will be onsite. Please come by 1435 34th Avenue this weekend for the celebration.