Apologies for the infrequency of recent posts; we haven’t abandoned this blog, but not much has been happening until just recently. First, a little catch-up for some proposed Taltree changes; and then some information about a choice we have to make now.
A few months ago, we got word that the garage plan for the Taltree site was changing. The underground garage was deemed too expensive, and changing it to above-ground parking would allow for a change in unit mix. There was little demand for the largest units, and more demand for the smallest units. A more cost-effective parking setup would the largest units could be eliminated in exchange for more small- and mid-sized units. The exact details of the proposal kept changing; options included: parking directly attached to most units, parking mostly at the front of the lot with some attached parking along the south, and parking spread out (with a garage for us at the south-east corner, nearish our unit). This change had some advantages, so we were fairly happy with it; but wanted to wait until the change was finalized before posting details.
However, a few weeks ago we started talking about some alternate options. The Taltree project still has an indefinite timeline due to difficulties finding enough committed buyers for the project. Talking with Yuval, we came up with a few options to consider: take the last lot at the Bellevue 41st project, reduce the community aspect of the Taltree site in such a way as to allow that project to happen in stages, or find a stand-alone lot elsewhere to buy and build on.
Bellevue 41st
The Bellevue 41st project is five lots, each with a single-family home with personal garage (no shared parking) down in south Bellevue (it is in Somerset Hill, right next to the Factoria Mall, but several hundred feet up). The homes and lots (and therefore prices) are bigger than Taltree, and the location is further south than we would prefer; so we originally weren’t considering it as a possibility. However, this project was started earlier than Taltree, so is much further along; in fact, the first house is already framed, the second has a foundation laid; and the third is in design already. If we decided on this, we could start design right away, and be ready to move in roughly 12-13 months later. The trick is meeting our budget: we’re aiming for $100k-200k less than the other homes in this development; however, we also want a smaller home. If we can get the lot at a reasonable price, we could be a home there within our budget.
The main site is nice, up on a hill with some really great western views and trees around it. The neighborhood is pretty nice, and has some of the best schools in the area. The general location, however, is not ideal. It is further from Kirkland, where Erika works, and further from where most of our friends live now. However, it is quicker to get into Seattle, where I work, and driving the backroads between Kirkland/Redmond and Factoria does not take as long as it seems like it should; it’s even faster if you take I-405 (as long as there isn’t traffic). There are more restaurants and stores within walking distance (even if they’re all in strip malls or the main mall). The community wouldn’t be the same as at Taltree, as there is no group parking, and there is a (short) driveway between the houses. However, the current members have already started to form a good community and are talking about adding some small shared amenities at the end of the driveway.
Taltree (phased)
Another option is to change the plan at the Taltree site. One proposal was to subdivide the land into several lots. One half-acre lot would have a smaller community of four houses; the other half-acre would be divided into two or three lots with a single home each. The individual lots could start development before the community section, and they would be developed independently. Since the number of total units would be reduced, this change would would depend on getting a good deal for the land from the bank. However, it would allow parts of the project get started sooner and allow the builder to stage development. It would also make it easier to hit the threshold of the community section to start development on that. For this option, we’d get our choice of lot and total time would be maybe 14-16 months. On the downside, this setup would probably not have the same kind of community as the original Taltree proposal. Plus, since we would be in the first phase of building with others at indeterminate times, we might be living right next to other construction for a while.
Compared to Bellevue, this location continues to have the same advantages it did before: it is close to friends, it is a good commute for Erika, and, although it is not quite as walkable as the Bellevue location, it is still a pretty walkable location.
Separate Lot
The final option is to find a separate lot in a different neighborhood, and build a single house there. This would require more work to find the lot, and get it ready to build. The timeline would be more like 18 months. Since this would have no community at all, the main advantages would be finding the best location (preferably within walking distance of Houghton, where Erika works; and/or downtown Kirkland; both locations would put me within walking distance of the main bus that would take me to downtown Seattle for my work), and maybe a slightly larger lot for more gardening/play space (since we won’t have shared spaces for these things). Unfortunately, it looks like all the lots that even meet the location criteria are going to be more expensive than we like, and would probably push our overall cost up by around $100k. Between the cost, longer timeline, and difficulty of finding/developing a new lot, this option is the least-feasible right now.
So…
We have not made a final decision yet, but we will soon. In the next few weeks, we will find out if we can successfully get a good-enough deal on the land at either Taltree or Bellevue 41st to make those options possible. At that point, we will need to make a decision (or have already decided), since there are other potential buyers interested, too. Once we’ve decided, then actual development can start relative to the time frames listed above. By the end of the month, we should know where we’ll be living!