Trinity, in partnership with a family office client, successfully acquired and transformed two sister buildings on the south slope of Queen Anne hill. We were immediately attracted to the property’s vintage charm, its great unit layouts, and sweeping views of the Seattle skyline and Elliot Bay. We also recognized an opportunity to re-imagine the building’s interiors and deliver a unique tenant experience. Through Trinity’s re-positioning and asset management efforts, the asset has proved to be an attractive investment and pride of ownership asset for our client.
The repositioning of the Saxonia Apartments was a worthy undertaking. The buildings had period details that were attractive, however, many of the historical systems and finishes needed upgrades. As such, we undertook the upgrading of all the major systems which brought the buildings life-safety performance to current standards. On the interior of each unit we replaced finishes, renovated the kitchens, installed high-end appliances, including gas ranges, and updated the bathrooms. These upgrades were done with the focus of preserving and featuring many of the original buildings design elements. We worked with the City to add two units to the buildings through the conversion of two underutilized 17-foot ceiling daylight garages. This conversion created two large upscale ‘loft’ units that compete well with downtown high-rise penthouses. Furthermore, we added a bedroom to the two garden studios and provided new resident amenities in common areas.
303 & 307 West Olympic Pl, Seattle, Washington
The Saxonia Apartments are now fully leased, stabilized, safer, and more sustainable. Every aspect of the project was designed to preserve the vintage character while providing top-to-bottom modern enhancements desired by even the most demanding tenants. Through innovation and hard work, the property has been successfully repositioned for its next 100 years of life.
Our concept and design were focused on quality and sustainability with strong financial performance. Our client plans to hold this property for the benefit of future generations of their family.