A new townhome community called The 27 ELM is on the horizon in Redmond. Hunter Renaissance Development LLC says the project, “is aimed at those who’ve been price-squeezed out of the market, unable to pay higher end rents, yet are looking for well-designed two- and three-bedroom floor plans, slick finishes and private outside space.” Rents at The 27 ELM will start at $1,295/month.
The current vacancy rate in Redmond is about 1 percent, with affordably-priced rentals in high demand, so the 36 units in this project should rent very quickly.
The 27 Elm, located at the southeast corner of NW 27th & NW Elm, is just a few minutes from downtown, with easy access to Hwy 97. Each home is a two-story contemporary design offering large master suites, fully applianced stainless steel kitchens with ultra-contemporary design, in-unit laundry center, plus private deck and patio. The property is pet friendly and offers private parking and bike storage.
Developers and city officials will host a ceremonial groundbreaking Wednesday, November 30 at 2:30pm at the northwest corner of the site.
Mayor Endicott and members of his economic development staff will be on hand to assist with the first shovel of dirt.
“I have been a proponent of offering innovative approaches to housing solutions in Redmond from the inception of the concept. The 27 Elm project is a perfect example of a progressive application that brings many diverse ideas to fruition all at once to garner an affordable housing solution for Redmond,” states Mayor Endicott.
The City of Redmond has been very supportive of this development, which will help the city meet its goal of providing affordable workforce housing choices for people wanting to live near downtown.
The 27 ELM is taking reservations now for all 36 units. New residents will move in late spring of 2017. With only 36 units available, the developers anticipate full occupancy upon opening.
The property’s development team possesses a long history of successful projects across the country. Hunter Renaissance Development LLC is a joint project between Hunter Investments, LLC and The Renaissance Companies, who have developments in the Midwest and the Pacific Northwest, from urban infill to small town Main Street resurgence to industrial rail projects.
The 27 ELM
The Renaissance Companies