South Waterfront apartments to convert retail space into more units

By: Reed Jackson//November 21, 2012//

South Waterfront apartments to convert retail space into more units

Reed Jackson//November 21, 2012//

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More residential units will soon be built on the South Waterfront.

The Matisse Apartments, which was completed in 2010, will convert 16,000 square feet of its ground-floor retail space into 19 new apartments. The retail space has not had a tenant since the building opened.

It is unclear what the design of the new apartments will look like, but the building’s current apartments are high-end, one- to two-bedroom units, with rents averaging around $1,270 for singles and $1,750 for doubles.

Simpson Housing, the nationwide development company that built the building, will be funding the project.

鈥淭he timing is good and it made more economic sense for us to go ahead and do residential,鈥� said Alyse Castro, executive assistant at Simpson’s Northwest branch in Seattle.

Construction on the project could start in the next six months, though the start date depends on when the project can gain permitting, Castro said.

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