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Mosier Creek
Mutual Life Building
Nicholas Court
Belltown Lofts
Fairview Lofts/Minor Office Suites
Hazel Lofts
Bertschi School
Artists Studios
Lake Union Lofts

Address: 66 Bell Street, Seattle, Washington

Type: Residential

Architect: Greg Oaksen

Completion: 1988


  • Vacant 28,000-square-foot, three-floor warehouse, purchased out of bankruptcy
  • Two blocks from Seattle’s Pike Place Market, with water views

To generate income from the building until the Belltown neighborhood was ready for the development of marketable condominiums.

Working with the arts and crafts community, we added electricity, bathrooms, and minimal improvements to the existing building to create six rental live/work studios on each of the three floors. A 10-year waiver from Fire and Life Safety Code requirements, which was granted by Seattle’s Department of Construction and Land Use, allowed us to accommodate the arts community for a decade, while generating income until Belltown was ready to grow. (See Belltown Lofts for phase 2 of the project).

Private capital, family trusts, Washington Mutual Bank

Return on Investmen:t
Approximately 12 percent, plus tax benefits