Residences at Fairview, formerly Enclave, Breaks Ground
Hot off the wire, Trinity Real Estate Breaks Ground on The Residences at Fairview.
Executives at Trinity Real Estate announced today the official ground breaking of The Residences at Fairview – a 21-unit, high-end attached residential development on the eastern shore of Lake Union. With construction lending by Sound Community Bank, the project is likely the first larger-scale, “for-sale” luxury development financed in Seattle since the credit crisis deferred or canceled dozens of condominium and town home projects over the past five years.
Residences at Fairview is the project formerly known as Enclave. In fact, we attended a preview event way back in 2009. This 21-unit development is in Eastlake. Units are 2,500 square feet and pricing starts at $1.3 million. It is nice to see them become the second project to break ground this cycle. (With Insignia being the first.)
The second most remarkable thing about this news, is that they’re breaking ground with only one unit pre-sold.
