A San Francisco developer is banking on apartments for a vacant Cap Hill office building.
Re-viv submitted plans to the city last week proposing to turn the existing four-story, 55,000-square-foot building at 1390 Logan St. into a 51-unit apartment complex.
The building was previously the headquarters of Credit Union of Colorado, which constructed it in 1962. The credit union moved its headquarters last year to a new building in Central Park, and installed a downtown branch at the corner of Tremont and Colfax.
Re-viv expects to close on 1390 Logan St just before Thanksgiving, per its website, which says the company is looking to raise $14 million for the project and that it would take 25 months to complete.
The remodeled building would have a mix of studios, and one-, two- and three-bedroom units, per Re-viv’s website. The three-bedroom units would be rented by the room for $1,325 a month each, including utilities.
“The 1390 Logan project is part of our ongoing strategy to acquire distressed office buildings in high-demand locations where young professionals seek affordable living spaces,” the company’s website states.
There would be about 6,000 square feet amenity space in the building, with a gym and yoga studio in the basement. The parking garage and surface lot would hold a combined 35 spaces, per the plans submitted to Denver.
Re-viv’s website said it has acquired a nine-unit apartment building at 1444 Stuart St. in Denver, and is trying to do something similar for 1446-1448 Stuart St.
Re-viv previously had eyes on 1741 Gaylord St., a large home that was named a city landmark last year against the wishes of its owner, local developer Mike Mathieson. But Dane Andrews, an executive with Re-viv, told BusinessDen Monday that the plan for 1741 Gaylord St. is up in the air. The company no longer lists a project there on its website.
Full story via BusinessDen
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Originally Published:
There are plans afoot to transform a former Capitol Hill credit union headquarters in Seattle into a mixed-use residential development. Columbus-based developer Kaufman Development is exploring the possibility of a residential conversion of the 9,600 square foot structure located in the bustling heart of Capitol Hill.
The building, at 317 Broadway East, once housed the headquarters of the Group Health Credit Union, which later became part of Sound Credit Union. Built in the late 1920s, it’s one of the few remaining older structures in the neighborhood and now stands vacant, offering a ripe opportunity for redevelopment.
Kaufman Development, well-known for its commitment to community-focused urban revitalization projects, has submitted early plans to the City of Seattle for the conversion. The proposal seeks to integrate the existing vintage masonry facade with a new residential and commercial structure extending toward the back of the property.
This project aims to breathe life back into this historic building while offering much-needed residential housing and commercial space in one of Seattle’s most vibrant neighborhoods. The preliminary plans for the conversion include preserving the building’s historic front while revitalizing the expansive interior space for contemporary usage.
While specifics of the design are still being worked out, the concept emphasizes embracing the old while ingeniously incorporating the new. The project hopes to provide additional living options in Capitol Hill, one of Seattle’s densely populated neighborhoods, without disrupting the architectural cohesion of the area.
Under the redevelopment plan, the building’s ground floor would accommodate commercial space, with the upper levels set apart for residential usage. The developer is considering options for public open space that will foster a sense of community, paying homage to the building’s roots as a former credit union headquarters.
The residential conversion aims to align with the goals of the Mandatory Housing Affordability (MHA) program in Seattle. This innovative program requires new developments to either include affordable homes or contribute to an affordable housing fund. Details are still being consolidated, but it’s anticipated that the housing units in this development will cater to a broad demographic, including those in need of affordable housing.
The timing of this proposed redevelopment comes as Seattle continues its resurgence following the pandemic. The plan could be an attractive investment for those seeking to capitalize on Seattle’s rising real estate market and could provide much-needed impetus to boost the local economy further.
The conversion of the former Group Health Credit Union headquarters into a residential complex underscores an emerging trend in urban planning and architecture: blending the old with the new by integrating historic structures with modern amenities. Such conversions are a sustainable way of preserving the city’s architectural heritage while adapting to contemporary needs.
As revised design plans evolve and gradually filter into the public domain, it’s expected that a transparent dialogue will continue between the developer and nearby community residents. Like other developments proposed by Kaufman, this project’s outcome is tied to meaningful conversations with those the transformation stands to impact most: the local population.
With this proposal, Capitol Hill might soon see another instance of harmony between historic preservation and modern development. Pending city approval, the former credit union building may yet get another chance to serve its community in a new capacity, a vestige of the past merged with the exciting possibilities of the future.
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Residential conversion eyed for former Cap Hill credit union HQ
