SEATTLE—GreenHouse, a recently completed 124-unit apartment project, is for sale. Located near the Columbia City light-rail stop, GreenHouse opened four months ago and is the first market-rate apartment to be built in Columbia City in more than 40 years. Jim Atkins, managing director of Harbor Urban, which developed the property, spoke with the Seattle Business Journal about the listing.
Nearly all of the units have been leased, said Atkins. Harbor Urban did offer concessions to attract tenants. Rent for one-bedroom units is around $1,475.
Harbor Urban hired apartment broker Pete Shelton of Cushman & Wakefield Commerce to market GreenHouse for sale. There is no asking price.
Harbor Urban, which plans to start up to eight apartment projects in the Puget Sound region and Portland in 2013, recently sold the Landes, an 81-unit apartment building on Seattle's First Hill, for just under $28.9 million.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
