A value-add, well-located 84-unit residential community in Seattle
Constructed in 1989, Grosvenor acquired this residential apartment community in 2018 for its value-add potential and superior urban location just east of downtown Seattle between the First Hill and Capitol Hill submarkets.
To date, we have invested $6.5M in an all-new building façade and upgrades to the common areas and amenities such as the gym and leasing office. We also build a gated dog park and a created a coworking/lounge amenity space. The property is well positioned for additional value enhancement through a unit interior renovation, planned in 2022.
Union Park meets our investment criteria as a value-add, walkable, and transit-oriented urban property. The refreshed façade and activation of the common areas align with our vision to thoughtfully improve places for our communities to enjoy now and in the future.
Seattle maintains its position as a high-growth city for real estate investment and Union Park complements our existing multi-family portfolio in the area, which includes Chelsea at Juanita Village in Kirkland and The Row Townhomes in Bellevue.