47 North has contracted with Vekst Construction for their beautiful new ground-up development. The project is mixed use with a large commercial space, parking and 12 residential units. The project is perfectly suited for the family oriented neighborhood bellow Phinney Ridge on 65th. It is a 30,000 sf project containing one PT deck and the project duration is expected to be 15 months.
The Vekst team finished pouring Gyp-crete on all levels, and completed sheet-rock installation before the New Year, paving the way for the finishing touches that will see 323 to completion in early 2020.
Vekst is currently on track to not only match its 14 month completion goal, but to beat it. We are eager to see Oslo take shape as a staple of Bellevue Ave, and as an asset to the residents of Capitol Hill.
Shortly after a little Christmas time-off and just before the start of the New Year, the Vekst team poured the final foundation walls at 119 + 123 26th Ave E on Capitol Hill. This marks the final structural pour for the two townhome sites as we shift our focus to the completion of stick framing.
Progress marches along on Bellevue Ave as windows have been installed, siding is partially complete, and exterior paint has begun.
We are excited to announce that we have broken ground on our 3rd project to date. The project consists of 12 luxury town homes in South Capitol Hill.
Architectural concrete for all planter boxes, L1 unit patios, and the parking garage ramp have been formed, poured, and completed.
As the framing process rolls on, Vekst completed the installation of all structural steel beams at 323. Ranging from 14 feet to 20 feet long, the installation of these tremendous beams marks huge strides towards the upcoming completion of stick framing.
With all structural concrete on levels P1 and L1 completed, the team was eager to roll out a new toy. The Coast Crane RT700E, reaching a maximum height of 110 feet and a load capacity of 50 tons, will facilitate the construction of the next five stories.
June 5th marks a pivotal milestone for Vekst and the 323 site. Today all structural concrete was officially completed with the pouring of the Level 2 slab. With the first floor now visible from Bellevue Ave, the aesthetic vision for Capital Hill begins to establish itself.
Excitement on site grows as 2 of the 3 concrete decks have been poured. With the building taking real shape, the vision of Luxury Apartments on Capital Hill grows more salient for both the neighborhood and the Vekst team.
A busy couple of weeks of forming and reinforcing marks progress towards, and readiness for the pouring of the Level 1 slab. The team at 323 is on target to pour the L1 PT deck just three weeks after the completion of the P1 slab.
As the foundation approaches completion, 323 has officially poured concrete for the parking level. Completion of the first of three slabs crosses an exciting threshold in the structural concrete process.
The development site at 323 Bellevue Ave E has walls emerging from the ground while what resembles the structure of a building is now visible.
The project at 323 Bellevue Ave E has officially crossed the concrete threshold as spring in Seattle sees Vekst Development's second project continue to progress.
This marks the first major step toward the reality of adding a new luxury apartment to the Capitol Hill neighborhood situated on Bellevue Ave E and E Thomas St.
Vekst Construction is the general contractor for the project at 323 Bellevue and aims to embody the Vekst Development values of operational stability, integrity, and efficacy in all things.
Vekst Development is pleased to announce that dirt work is finished after going extra rounds with rain and mud to see it through.
With the project at 323 Bellevue Vekst Development sets a new pace for expeditious operation and forward motion toward the goal of adding a carefully constructed apartment to Bellevue Ave E in April of 2020.
Residents of 323 will have a beautiful view of the Space Needle, easy access to the light rail 6 blocks away, and join a neighborhood budding with life in Capitol Hill.
Vekst Construction will complete the 5253 15th Ave NE project for less than $215 psf. In addition, Vekst Construction reports $2.4 million in revenue in its first year and has $9 million in the pipeline for 2019.
Notably, Vekst Development conducts $5.8 million in transactions during its first year of business. This is the pace that Vekst Development sets as it enters its year two with the guiding aim of producing eminently livable strong-yielding assets.
Both Vekst projects in 2018 were purchased with Master Use Permits secured allowing for construction to begin immediately.
To create value in every project, Vekst recalls its pillars of integrity, quality, and design with the end in mind.
As Thor Hatton, CEO of Vekst Development, says, in “Everything we do, [through every project] we’re trying to cement a legacy.”
Vekst Development purchased 323 Bellevue Ave E for $3.7 million with entitlements. The deal was finalized in December 2018 and will amount to a $25 million completed value.
323 Bellevue E is one of short list of infill projects on the northwest side of Capitol Hill overlooking downtown and Lake Union with walk score breaking 90. Noteworthy too are the amenities and retail venues in Capitol Hill less than a mile toward Broadway Street.
323 Bellevue Ave E is positioned well for city and professional life; the 43-unit apartment encapsulates the combination of luxury and affordability that Vekst Development strives to create in a City marked by increasing demand for highly livable apartment rentals.
This development is the prototypical type of building that Vekst Development seeks to put its energy behind.
The construction on 323 Bellevue Ave E is scheduled to take 14 months ending in April of 2020.
Vekst Development lists its professional team to include architect D/Arch, engineer Malsam Tsang, interior designer Clarke Barnes, and acquisition firm Carroll, Biddle, & Bilanko, specifically attorney Brandon Carroll.
Work progresses at a steady pace with siding wrapped up in November at 5253 15th Ave NE, a site Vekst Development multifamily project in the University District.
As the end of the 5253 project comes into view, Vekst Development is ready to apply lessons learned on its first project to activities on its next set of urban-infill projects.
Framing is now complete at 5253 15th Ave NE, a Vekst Development project taking form as it enters the second half of the construction schedule.
The 5253 Vekst Development project carries on apace with the vision of a beautiful 4-story midrise structure that will bring additional housing to a University District submarket with high demand for additional affordable housing. 5253 15th Ave NE is situated four blocks from the University of Washington, with a population of more than 30,000 staff and faculty as well as 45,000 students and rising.
