The content for this article was originally featured in the Daily Journal of Commerce on August 29, 2022.
Work was completed and renters began moving into Greystar’s latest development, The Waverly, earlier this month.
Located at 210 Eighth Ave. N., this 374-unit, 28-story tower is designed to offer a luxury lifestyle at a relatively affordable price point when compared to other high-rises in the area and has been deeply influenced by the cosmopolitan and entrepreneurial spirit of South Lake Union.
The Waverly offers studio, one- and two-bedroom apartments. Eighty of these units are under 1,000 square feet and many under 500 square feet. Including this number of smaller units is not typical in high-rise luxury towers but as Aaron Keeler, managing director of development for Greystar, explained they were a thoughtfully considered inclusion. “These smaller units were included to provide a cheaper option for individuals who might want or need to live in SLU and reap the benefits of luxury tower living but who also want to spend less of their paycheck on rent,” he said. “We also envision that they might be rented as a second home of sorts by individuals who might work in the neighborhood but choose to have their main residence outside the city.” Rents for the smallest units start at around $2,000 a month.