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The Residences At Fairview In Lake Union Mark Return To Luxury Development

Trinity Real Estate announced today that they are breaking ground on The Residences at Fairview, a 21?unit, high?end attached residential development on the Wards Cove shores area of Lake Union.

Via the release, this development is the first "larger-scale, 'for-sale' luxury development financed in Seattle since the credit crisis deferred or canceled dozens of condominium and town home projects over the past five years." It's good timing given the news that Seattle home prices are up 9.3% over last year and up 36% in center city in the same period.

Expected to be ready by early 2014, residents will be able to choose between 2-BR+ residences ranging from 2,500 to over 3,000 square-feet as well as a 5,200 square-foot 3-BR, 3.5 bath lakeside home. Homes come with a private garage and optional private elevator.

Included in the community are plans for a new marina, commercial office building, a dozen floating home sites and a reclaimed, private beach. Preferred presale pricing will begin at $1.3M. Check out the site for more info.