Address:1413 15th Avenue, Seattle, Washington

Type: Residential

Architect: Gordon Walker Architects

Completion: 2000

Property:

• 14,000-square-foot vacant lot on Capitol Hill, owned by Better Neighborhoods, LLC

Objective:
To demonstrate that high density residential projects can be built without undermining the scale or character of the neighborhood.

Project:
We took advantage of a new zoning designation designed to limit urban sprawl by allowing higher density projects in Seattle's residential neighborhoods. After successfully completing the stringent review process, we built nine condominiums, an average of 1,000 square feet each.

Funding:
Private capital, Wells Fargo Bank

Honors:
Selected by the Urban Land Institute as one of 9 case studies for 2005 Residential Development Handbook

Cost:
Approximately $2.5 million

Return on investment:
$3.3 million (all units were sold by completion date)