Schnitzer Northwest Breaks Ground at Brix on Broadway in Capitol Hill

Just released as an email blast to priority registered real estate purchasers and investors in the Seattle Washington area, the Brix condominiums latest news and updates are located below

Schnitzer Northwest bringing more than 1,200 homes to region

SEATTLE – January 9, 2007 – Schnitzer Northwest LLC, one of the region’s leading development companies, celebrated the groundbreaking for the company’s second Seattle residential community in just as many months.

Brix, located in the heart of Capitol Hill on Broadway East, is bringing 141 upscale condominium homes to the prestigious and historic Harvard/Belmont district.

Schnitzer Northwest, which officially began a move into the residential market just two years ago with a nine person team, currently ranks among the area’s top developers of multi-family projects planned or in construction in the Puget Sound, with nearly 1,200 new homes in five distinct neighborhoods.

“Schnitzer Northwest has developed a strong reputation for producing top caliber results in the commercial real estate industry,” said Dan Ivanoff, managing investment partner with Schnitzer Northwest. “We have put together a creative and dynamic team to bring those same results to our residential developments. Schnitzer is very excited to expand to develop exceptional homes in some of the most unique and sought after neighborhoods in the region.”

Brix, located at the intersection of Broadway East and East Mercer Street on north Broadway at the former Safeway site, has been well established as the residential anchor for the emergence of the “new” Broadway, which includes more than $155 million in private investments over the next few years. Within just two years, the face of Broadway is expected to significantly shift with hundreds of new home owners moving in as well as new business investment in the neighborhood.

“Brix is a vibrant new development that will be a cornerstone to Broadway’s future,” says Suzi Morris, investment manager of Brix. “The building’s handsome brick exterior will extend the historical charm of the Harvard/Belmont district seamlessly into the Broadway streetscape. Our location will provide homeowners the opportunity to experience all the sights and sounds of Capitol Hill. Brix is in the perfect Seattle location – within walking distance to downtown, the Seattle Asian Art Museum, Cal Anderson Park, and the densest selection of restaurants and shops that Seattle has to offer. ”

Morris also notes that Capitol Hill’s ideal location has been validated by the 22 percent appreciation of the area’s condominium sales prices last year which is more than any other King County area.

Designed by award winning architect Mithun, Brix will offer a variety of floor plans, including two-story town homes and lofts, open one-bedroom residences, and spacious one and two-bedroom homes. Townhouses and lofts will face the residential neighborhood of 10th Avenue East and interior courtyard, while modern one and two bedroom condominium homes will face west over Broadway. A lush, private central courtyard will join the two sides.

Brix will set the mark high in Capitol Hill condominiums by offering elegant finishes to homebuyers. Each home will feature sophisticated interiors by MNID Inc., complete with wood cabinetry, stainless steel Bosch and Fisher Paykel appliances, gas cooking, and upscale lighting and plumbing fixtures. Built-in entertainment centers and kitchens with floating islands are also available.

During the official start of sales in October, eager homebuyers lined up to be among the first to have the opportunity to learn about Capitol Hill’s newest development and take advantage of pre-development pricing. Approximately 30 percent of the homes were sold.

“Brix is the newest and most exciting project in the area,” says Sabina Mustafayeva, a Brix home buyer. “It is extremely close to downtown, and conveniently located near I-5 and 520. You couldn’t ask for a better location. I love the modern design and the great pricing.”

Residents at Brix will be able to enjoy extra amenities including a central landscaped courtyard, a spacious rooftop deck and lively retail on the first level. Garage parking and additional storage are standard with every home.

W.G. Clark is the general contractor for Brix.

Brix is offering 35 unique floor plans with one level homes starting at $314,000, and two level lofts and town homes beginning at $445,000. Interested buyers are encouraged to visit the Brix sales center at 700 Broadway East or visit the project’s Web site, www.brixcondos.com. For more information, you can also visit condominium real estate listings in the western United States.

About Schnitzer Northwest

Schnitzer Northwest has developed approximately two million square feet of Class A and suburban office, flex and bio-tech space and luxury multi- family apartment units in the Seattle and Portland markets. The company has acquired and repositioned approximately 1.0 million square feet of commercial product and has approximately 5.0 million square feet of development opportunities in the pipeline in the Seattle and Portland regions. It also manages approximately four million square feet of property for its own account and others.

Diane Jacobsen - Buyers Agent
Williams Marketing

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email: info@brixcondos.com
phone: (206)262-9416
web: http://www.brixcondos.com