Adding a new property to our portfolio is kind of like bringing a new baby into the family. So, we are getting really excited to have not one but two new properties joining the Pillar Properties family soon.
The Maverick
Pillar Properties was the developer for The Maverick in Burien in conjunction with our partners at Legacy Partners and in the next few months we will also become the manager. We are thrilled to be taking on the operations of this pioneering property, located in the heart of the Burien Town Center.
The apartments are large, and the rental rates are lower than you will find in the downtown Seattle core. A winning combination for residents for sure, which may explain why The Maverick quickly reached full occupancy when it opened last year.
It also turns out that Burien is one cool place to live, with lots of fun shops and restaurants within walking distance. Plus, The Maverick is in the perfect spot for residents to linger in the nearby park and enjoy the weekly Farmer’s Market.
“Burien is a prime location and The Maverick is ideally situated, just a short block away from the Burien Transit Center. That means our residents can get into Seattle faster than people living in West Seattle. Plus, The Maverick offers some of the best views of Mt. Rainier you’ll find anywhere,” says Billy Pettit, Pillar Properties president.
Pillar Properties will take over management of The Maverick officially on June 1.
9th and John
This is a brand new 28 story residential tower located in South Lake Union at 820 John Street that we are developing along with our partners at Reel Management. We have not given the property a name yet, that will come a little later, but we are moving full speed ahead on the design elements.
Located near Denny Park and all that South Lake Union has to offer, the property will feature 278 apartments along with almost 10,000 square feet of indoor residential amenity space and 5,400 square feet of street level retail.
“This is going to be a stunning addition to South Lake Union,” says Pettit. “It will offer a ton of amenities for the growing population in that area to enjoy. Plus, the views are going to be simply amazing.”
We expect construction to begin later this year with an opening set for 2020. Stay tuned for our announcement when we name our new baby!