Ascent South Lake Union is a 25-story building comprised of 251 multifamily units.
SEATTLE—The late Paul Allen built South Lake Union basically from the ground up from an industrial neighborhood to a tech hub surrounded by Amazon, Facebook and Google. It is the fastest-growing neighborhood in Seattle, offering residents access to up-and-coming residential communities, restaurants, bars, entertainment and retail. In addition to providing convenient access to e-commerce giants, South Lake Union is a waterfront community that offers sea plane rides and boating excursions.
This growing epicenter for community and culture often attracts residents who are moving to Seattle for the very first time. It was Allen's impactful influence that has allowed the neighborhood to continue to break barriers, evolve and eventually pave the way for a ground-up properties such as Ascent South Lake Union.
This urban residential building by national multifamily developer Greystar has completed construction and began welcoming its first residents to the 25-story building. Comprised of 251 contemporary high-rise apartment homes, Ascent South Lake Union provides an all-inclusive living experience accented by 360 views of the downtown skyline, Lake Union and the Space Needle.
“As we continue to experience strong demand in the high-end rental market for condo-quality living in a high-rise apartment setting in Seattle, particularly in the budding neighborhood of South Lake Union, we developed Ascent. We have already received a strong response from prospective residents and anticipate a greater influx on the heels of opening our doors,” said Aaron Keeler, director of development at Greystar.
Designed by local architecture firm Weber Thompson, Ascent South Lake Union boasts one-, two- and three-bedroom residences and penthouses ranging in size from 669 square feet to 1,831 square feet topping out at $9,355 per month.
All homes feature California Closets, Nest thermostats, Blomberg stainless steel appliances, custom kitchens and gas ranges. Penthouses feature hardwood floors, waterfall marble kitchen islands, Monogram 28-bottle wine reserve, charcoal-filtered water with instant hot and cold settings, Brizo kitchen and bath fixtures, oversized windows, walk-in California Closets and smart home technology beyond Nest Thermostats including automatic window shades and light switches controlled by Amazon Alexa and TV screens embedded into bathroom mirrors.
The common areas were styled by Seattle-based interior design firm Susan Marinello Interiors, whose work in the state includes The Private Residences at The Four Seasons Seattle, Hotel Theodore and Woodmark Hotel. The communal spaces were conceived to act as an extension of nearby Lake Union through the use of wood, stone and natural elements that are authentic to Seattle. And, the exterior of the high-rise was intentionally designed to resemble rain cascading down the building.
The amenity collection is highlighted by The Observatory, rooftop lounge and open-air deck. Designed to allow all-season outdoor-indoor living, The Observatory features multiple indoor and outdoor social lounge areas with firepits, barbecue grills, overhead heaters, indoor entertainment kitchen complete with a Franke Espresso cappuccino/espresso machine, a game room with life-size Scrabble board and a rooftop spa. Additional resident amenities include a studio with virtual fitness classes, Luxer One package lockers, a 2,600-square-foot fitness center, dedicated co-working space and a conference room, and 24-hour concierge service. The pet-friendly community also offers an industrial pet wash station and rooftop dog run. Parking is also provided onsite with electric car charging stations and indoor bicycle storage. At the base of the tower, a total of six different retailers will be among the new offerings coming to the building.
All of these amenities make the property a good value with prices starting at $2,600 per month as compared to downtown rents, Keeler says.
“Rents for market-rate luxury apartments in downtown Seattle average around $4,000 for a two-bedroom, for example. In South Lake Union, similar apartments offer rents averaging about $3,500 for a two-bedroom apartment,” Keeler tells GlobeSt.com. “While both neighborhoods offer community amenities and access to local events, South Lake Union offers residents more space and better value per square foot. Just minutes away, downtown Seattle on the other hand, is well represented and more established due to its history, but it typically offers pricier value for market-rate rentals.”
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
