We have been dreaming of this for so long, it feels like our child has just graduated and moved on to college. As we open Washington Square to its first residents, and approach the completion of phase one , we thought this would be a great time to fill you in on how the rest of the project is going to play out.


Moving forward with phase two, we will continue to build toward our vision of a welcoming, pedestrian friendly community with unique and convenient shops and services; gourmet grocer; intimate, comfortable restaurants; dog park; luxury hotel; state-of-the-art fitness facility; and gracefully landscaped green spaces.

The Washington Square towers were designed to meet the highest seismic standard. To accomplish this the interior core of the buildings were widened from the elevator shaft, the standard location in most buildings, to the perimeter of the interior hallway. Not only does this provide more stability due to a larger cross-section, but also puts twenty-four inches of dense concrete between the homes and the public corridor, making the homes quieter.

Some of the highlights and refinements to the original plan for the block include:

• We tripled the amount of retail to include approximately 160,000 square feet in total.

• We will concentrate our retail focus toward establishments with a local, independent flair
(those that don’t necessarily want to be in the mall).
Washington Square should be a pleasant alternative to Bellevue Square and the Bravern. The “Anti-mall.”

• A retail neighborhood with more walk-able space including a waterfall, seating areas, a grand staircase, and open sidewalks.

• Addition of an active senior living component.

 

The Superblock is happening and Wasatch is committed to seeing the vision play out. It’s a long road ahead, but we are moving right along.


~ Dell Loy

Dell Loy Hansen – CEO of Wasatch Development Associates

 

 

 

 

  




 


I’m not going to bore you with too many numbers, but everyone knows job growth and net-migration are factors that fuel the real estate industry like no other. Famed economist Dick Conway recently presented some economic facts and predictions at the 2007 John L. Scott Builder Breakfast. According to Conway, the entire Puget Sound region has seen a remarkable 3.7% job growth over the past year. The blue line in the chart below is net migration (people moving into our area) while the red bars signify employment change.

Employee Migration

Kindly note the trend line and bar graph on these factors. Both are up. My economic theories are quite simple, by the way: If there are more people who need live in a home than there are homes available, prices will go up. Make sense?

~ Bill Hurme

Bill Hurme, President – TeamBuilder John L. Scott

 

  
   
Presentation center visitor numbers have quadrupled
over the last three weeks! The new home season has begun.

  





 


As you have probably heard, it’s a great buyer’s market out there right now. We just locked a 30-year fixed, conventional conforming loan at 5.125%*. On top this, the buyer receives additional incentives for using the Seller's preferred lender.

 

Many enconomists feel rates are bottoming out, so now is the time to take advantage.

~ Royce

Royce Koh, Home Mortgage Consultant – Wasatch Home Mortgage

 

*This conventional conforming loan assumes owner occupancy with a 10% down payment. 5.22% APR.