"I stopped by the site today, the ground work looks fantastic, I was impressed with the clean work site. I look forward based on the success of this in doing more projects with your company, financing would not be a problem if I were to get involved at a higher level."
Dirt and Ground Works Conclude at 5253 15th Ave NE
Vekst Development announces the completion of dirt work and ground works at 5253 15th Ave NE in March of 2018
Vekst Construction is the general contractor of the project at 5253 and has overseen operations by their sub contractors in lockstep to meet project’s schedule and budget.
From the beginning to end of each project, Vekst Development observes its commitment to quality construction practices through necessary attention to safety and high levels of communication. In the case of 5253, Vekst Construction oversees expedience in all dirt and ground work.
Demolition of 5253 Signals Forward Motion for Vekst Development
In January 2018 Vekst Development saw through the demolition of more than a century old structure at 5253 15th Ave NE in the first step toward in an estimated 18-month project timeline toward construction completion.
The 5253 lot previously housed one family and now has capacity for 28.
Vekst Development Makes First Purchase of $2.1 Million
Vekst Development purchased 5253 15th Ave NE for $2.1 million MUPed (Master Use Permitted) & Shovel Ready. The completed value for the property is $8 million.
The 28-unit apartment in the University District will serve as a multifamily dwelling of compact studio apartments for an active neighborhood less than a mile from University of Washington, Seattle’s second largest employer of more than 30,000 people. 5253 15th Ave received a walk score of 95 as it presents students and professionals accessibility to an appealing lifestyle location in the University District’s full range of amenities with food, shopping, and entertainment options.
The general contractor for the project is Vekst Construction. Carroll, Biddle, & Bilanko is the acquisition attorney. The interior designer is Clark Barnes.
5253 is the first of many examples of what Vekst Development plans, development site that is attractive, high-yielding for investors while meeting the need of Seattle’s steadily growing population of students and professionals.