South Lake Union's Neptune Apartments Completes Construction Just as Rental Market Gets Hot
SEATTLE—Dec. 14, 2006—The Neptune, a new mixed-use apartment building in Seattle's emerging South Lake Union neighborhood, has finished construction just as the apartment market is heating up. Weber + Thompson, a full-service architecture, interiors and planning firm, designed the 234-unit luxury residential project.
General contractor WG Clark completed construction on the Neptune this month, and the timing of the building's opening couldn't be better. With new residential construction consisting largely of condominiums, and condo conversions gobbling up many in-city rental units, the market is crying for more apartment buildings to fill the gap.
"We delayed the project during a market downturn, but we had no idea we'd be able to deliver at such a fantastic time," said Matt Segrest, Senior Vice President of Simpson Housing, the project owner. "We don't see any slowdown in the rental market."
The timing isn't the only attractive thing about the Neptune. The project is located at 912 Dexter Ave. N., a block from the planned South Lake Union Park. The 12-acre, $20 million park will be a regional destination that celebrates the cultural, industrial and maritime heritage of the city and region. Many units in the Neptune have views of the lake. "The Neptune represents a critical element of the South Lake Union story," said Segrest. "It shows the continued market acceptance and viability of the neighborhood."
Architect Rick Nishino AIA of Weber + Thompson points out that the Neptune was designed to complement the newer and more modern office and mixed-use structures in the area while still remaining sensitive to the industrial look of the area. The materials palette gives the building a sense of permanence. The masonry base of the building holds the street edge, creating a strong urban street presence that melds with the commercial buildings on either side. Concrete and metal elements on the Eighth Avenue side complement the area's historic warehouse buildings.
Neptune also features an iconic turret on the southwest corner of the building, which is topped with an oversized industrial sign that identifies the building in the manner of Seattle's fading culture of dramatic, eclectic signage.
The Neptune is designed around an interior European courtyard, which is open to both residents and the public, creating a quiet urban oasis away from the busy streets of the South Lake Union neighborhood. Nishino says that this helps fulfill the owner's wish of creating a strong sense of arrival and place, much like the Solara project in Lake City. Weber + Thompson and Simpson Housing collaborated on Solara, which was built in 2002. The Neptune's lush landscaping and trellises protect the units above the courtyard from noise. In addition, the courtyard has a calming fountain with a sculpture of Neptune, the Roman god of the sea.
Apartments at the Neptune range from studios to two bedrooms plus dens. Studios are 459 to 599 square feet, one-bedroom units are from 577 to 877 square feet and two-bedroom units are from 1019 to 1590 square feet. Leasing rates start at $1031 for a studio, $1127 for a one-bedroom unit and $1875 for a two-bedroom unit.
One of the most successful elements of the project is the collection of ground-floor units that face the courtyard. The original design called for retail spaces in the courtyard interior but, after studying the market, Simpson Housing determined that residential units would be better received and replaced all of the courtyard retail with urban loft units. Because they are still based on the retail platform, the units feature stained concrete floors and 13-foot high exposed ceilings. All of the retail-level units have been leased; 43 percent of all of the Neptune units have been leased.
The Neptune features a wealth of residential amenities. In addition to the courtyard, there's the a rooftop terrace, a media room with full projection screen, a cardio center, parking for 324 cars on two subgrade levels and a lounge with full-service kitchen.
Group Health Credit Union, Dexter Deli and two specialty spas are leasing the majority of the 13군 square feet of ground-floor retail space at the Neptune. Ewing & Clark is the exclusive retail leasing agent.
The Neptune is the fourth major collaboration between Simpson Housing and Weber + Thompson. In addition to the Solara, a hip and colorful apartment property, the two companies worked on two other successful large-scale developments: Harrison Square, a mixed-use residential project that was ultimately sold to become the Oakwood Executive Suites; ; and Penterra Plaza, a two-towered, work-live-play high-rise community located in Denver.
Project Team
Owner and Developer: Simpson Housing LLLP
Architect and Interior Designer: Weber + Thompson
- Blaine Weber, AIA, Principal in Charge
- Rick Nishino, AIA, Architect
- Carole Miglore, Interior Designer
General Contractor: WG Clark
Structural Engineering: DCI Engineers
Landscape Architecture: Projects Pacific
Residential Leasing Agent: Simpson Property Group
Retail Leasing Agent: Ewing & Clark
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About Weber + Thompson
Seattle-based Weber + Thompson is a full-service West Coast design firm specializing in architecture, interior design, planning and landscape architecture. The award-winning company has an experienced staff of nearly 100 design and construction professionals. Since 1987, Weber + Thompson has developed a diverse practice with projects that include master-planned communities, high-rises, high-density urban infill, residential, hospitality, senior housing and commercial office projects. Weber + Thompson seeks effective results through a thoughtful and collaborative design process. For more information, visit www.weberthompson.com or contact Weber + Thompson at 206- 344-5700 or info@weberthompson.com.