Scope of work:
Here is an update on the forward movement at Dexter Ave.
The ’02/’03 stacks have all had their appliances installed and our construction crew is working on the finishing touches; including trim and touch up paint.
The cupboards and countertops are being assembled in the ’04 stack. Final inspections for those units are scheduled for late February.
Unit 101 has been vacated and our demo is almost complete. Our team just has sheetrock left to remove!
Unit 201 is still occupied with a Tenant Relocation Assistance Ordinance (TRAO) required vacancy date of 1/31/20. This doesn’t always mean the resident will vacate and due to this move-out risk, we may see construction for this unit delayed until March or April.
Unit 301 is partially framed.
We have moved to the drywall phase of the Penthouse! Siding for the penthouse is on-site. This unit is scheduled to be completed at the beginning of March.
Paint and railing installations are currently occurring in the common area. The lighting has been completed, except for the landscape areas. Overall, the landscape installation is approximately 60% finished.
Our fifth draw with Seattle Bank is complete. This draw is for $246,000 and here is a list of some of the items that it covered:
- Millwork for the doors
- Cabinets and countertops
- Tile upgrades
- Vinyl Flooring
We have started to show the property to prospective residents and expect to have some leases signed and new residents moved into the property by the end of February.
The vendor we were expecting to use for the railing installation unexpectedly declared bankruptcy. We are looking for a new vendor for this project and still expect this to be completed near the end of February. We will continue the common area work and to put the finishing touches on the units that are close to completion so they are available to lease.
Walls Property Group would like to invite you to view the property and walk through some of the units with us! You’ll enjoy cocktails and light appetizers in the Penthouse. We are aiming to host you at some point in March. Details will follow as the time draws near!