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Overview

This wood-frame rental apartment complex had a range of floorplan options aimed at young professionals who were attracted to the area near Green Lake, a large city park that had multiple recreational options. It contained 205 units with an average size of 763 square feet, 30% of which had views of Green Lake.

Building History

This large mixed-use development took the place of a sizeable Albertson's Supermarket and its parking lot. It was one of a number of residential complexes that went in the Green Lake neighborhood between 2005 and 2015. These included: Green Lake Village (2014), Circa Green Lake (2008), Florera Greenlake (2007), and The Greenlake Condos (2003). According to one writer: " According to a Seattle DPD report issued in July of 2015 on Urban Center/Village growth, 640 “dwelling units” have been added to the Green Lake Urban Village since 2005—nearly two and a half times the target set by the city for the period 2005-2024. If that pace continues, by 2024 the city will have exceeded its goal fivefold." (See Macgill F. Haolain, Livable Green Lake.org, "The Green Lake Urban Village," accessed 09/06/2018.) Projects dipped during and after the Recession of 2008, but picked up after 2012. (See Seattle Times.com, "Building blues hit Seattle's once-hot Green Lake," published 05/18/2009. accessed 09/06/2018.)

Newark, NJ-based Prudential Financial Real Estate Investors and Trammell Crow Residential of Dallas, TX, developed the property in 2007-2009. Green Lake Block LLC, the specific entity representing the owners, sold the building to the retirement fund, Teachers Insurance and Annuity Association (TIAA), for $83,013.776, on 09/14/2012. TIAA rewrote the deed to acknowledge "Trea Circa Green Lake LLC" as its owner on 02/21/2018.

The Seattle architectural firm of CollinsWoerman was the designer. Construction was under way on the project by 10/2007, and buildings had been largely framed out by 07/2008. The complex was finished in 01/2009. (See Daily Journal of Commerce.com, "Circa Green Lake," published 06/01/2009, accessed 09/06/2018.)

Building Notes

The CollinsWoerman web site said of Circa Green Lake: "The project has three floors of residential units over a level of pedestrian-oriented neighborhood retail, a series of live-work spaces, and residential units clustered around a ground-level courtyard. The design provides enclosed retail parking at grade and one additional level of below-grade parking." (See CollinsWoerman.com, "Circa Green Lake," accessed 09/06/2018.)

In 2018, Circa Green Lake occupied a 68,300-square-foot (1.57-acre) parcel. According to the King County Assessor, the complex contained 319,276 gross square feet, 168,137 net.

The land and building's combined value has increased more than fourfold in about a decade, from $23,983,300 in 2009 to $97,984,000 in 2018.