Last Tuesday I was invited to the launching of 1.
It shouldn’t have come as a surprise but I was impressed that all the publicists knew who I was without me having to introduce myself. It also shouldn’t have come as a surprise that I’d be under dressed in jeans and an un-tucked shirt (I say that I don’t need a suit because I only go to one wedding a year but apparently a suit would come in handy for these condo parties.) What did come as a surprise was how this was a small and intimate gathering with seemingly half of the thirty people flying in from New York just for the event.
When I first arrived I wandered around for a bit and checked out the model for the city suite.
I was surprised the kitchen featured an electric cook top instead of gas. The fridge is built in and is Fischer Paykel, the microwave is Wolf, and there is a slide out dishwasher drawer. I found it strange that the cabinets didn’t have pulls; maybe I’m old fashioned that way.
Sadly the bathroom was missing the cool tub. Apparently it was held up by customs.
The highlight of the night was Barry Sternlicht of the Starwood Capital Group who spoke about their vision for 1. Of course I should have done my research and known that Starwood is the group behind the W Hotels of which I’m a fan but attending the event was rather spur of the moment.
You know I’m not much of a writer so here are the notes I could decipher:
- The site is on ‘an important block’
- Ecologically sensitive project
- This will be the first luxury eco brand
- Seattle is a eco city and made the most sense to launch this new brand
- Likened it to Starbucks who is able to sell a product that is sold everywhere but at 3x the price
- Donating 1% of profits
- This project is going to be a “good way to live”
- The project has “good DNA”
- Starwood is going to be building LEED certified going forward
- Trying not to talk about the systems in the building because it is the first building they are trying stuff at and don’t want their competition to find out about them
- Reclaimed wood is from the bottom of lake Michigan
- Glen did the interiors who also did the interiors for the W NYC
- Steve Hanson is the restuarant exec. Owns 17 restaurants in NYC
- They’re going to source local organic food
- Can charger higher prices because its green
- It will sell faster because its green
- People will feel good
- Green elements cost a lot
- Free parking if you have a hybrid. Made a comment about being worried about pro formas if everyone has a hybrid (I love accounting jokes!)
- These will be the best rooms in the city
- It will be a top ranked hotel in a few years but that will be hard since there are so few rooms
- Other cities that will be getting 1s: Denver, Atlanta, LA, SF and some resort towns
- Marketing will be local
- Financing for the project requires pre-sales
- Interest is higher than they thought
- Early adopters have been blown away
- 10 press interviews a week are turned down by Barry’s team
- Trying to get a head start on the green trend
- Owners should expect to save 10-15% on operating costs since the project is green
- 115 or 176 city suites have been reserved
- 20 of 44 condos have been reserved
After the talk I got a chance to chat with the developer, restaurateur, architect and other members of the team. I also had a quick conversation with Barry about why they named it 1. Apparently he is a U2 fan. Some other notes I gathered from these talks:
- There will be a 5000 square foot grocery store on the main floor. Think Dean and Deluca. It will share the same kitchen as the restaurant so the butcher you talk to about your meat will be the same butcher working the restaurant.
- The project has been in the works for over 9 years
- The project struggled with the monorail team and the easements that were required.
- The units will have the option for an impressive A/V control system. You can even integrate it with Kaleidescape (though the UX was disappointing compared to Media Center)
- Condos will be 1400-6000 square feet and cost ~$1400/sf
I left the event excited; a luxury green brand is a good idea and Barry is clearly extremely passionate about this concept and if he executes as well on this as he did on W it will be the beginning of a major trend in the hotel industry.
But maybe I left excited because I was also well fed and drunk.
I have a press kit with lots of info so if you have questions the answer might be here somewhere.
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13 responses so far ↓
1 Jason // Oct 1, 2007 at 6:54 am
When I get a “parking ticket” on my hybrid, I send a letter to the “police department” explaining that, in fact, they are the villains and that I am not. You see, the police use extraordinarily inefficient cars while I am saving the earth.
To date, not once have I ever needed to pay any “parking fees” in my hybrid car in Seattle. Try it sometime!
2 jo // Oct 1, 2007 at 9:06 am
Am I the only one who could really care less about a building being “green”?
It’s a nice to have, however it’s not something I’d be willing to pay more for.
3 brian // Oct 1, 2007 at 9:28 am
I would say that in a progressive West Coast city you’re not the only one, but you may very well be in the minority (especially in-city).
4 Matt // Oct 1, 2007 at 9:34 am
Brian, I guess I should point out that I’ll likely never stay at 1 in Seattle nor is it likely to be at a price point where I’d suggest that family or friends stay there when in town. However, I do have a few friends on the Eastside who would likely use it as a weekend getaway.
5 Bob // Oct 1, 2007 at 9:49 am
You are a celebrity now. How were the hors d’oeuvres?
$1400/sf is approaching NYC prices. Owners save 10-15% operating costs (electric bill?) but how much more do they have to pay in the first place? I am afraid the most “progressive” citizens in Seattle won’t be able to afford this place.
6 Chris // Oct 1, 2007 at 9:59 am
Did you ask them about the 11th hour redesign? maybe 1400 psf was problematic for sales?
7 CG // Oct 1, 2007 at 10:15 am
Note that “Starwood Hotels & Resorts Worldwide, Inc.” and “Starwood Capital Group Global LLC” are unaffiliated entities. The latter is a private equity fund managed by Barry Sternlicht, who used to be CEO of the hotel corporation. Today, Sternlicht has no role whatsoever in the management of Starwood Hotels & Resorts.
These days, wearing his “Starwood Capital” hat, Sternlicht has investments in a bunch of hotels (and other real estate ventures), including Starwood Hotels, but also including some of its competitors. I don’t know why Sternlicht likes confusing folks by continuing to use the Starwood moniker for his new investment ventures. But, to my knowledge, Starwood Hotels is not involved in the rollout of “1″.
8 MacAttack // Oct 1, 2007 at 1:50 pm
Looks like the inside of an ordinary motel room for me. Too hip, I guess.
9 jpsfranks // Oct 1, 2007 at 7:10 pm
“The site is on ‘an important block’”
i get on the bus across 3rd on the bon marche side every evening. it doesn’t seem all that much scruffier than other blocks downtown, but the 3rd and pike intersection seems to have a reputation for being some sort of gritty epicenter. i will say that the McD’s dollar menu does a crazy amount of business there.
10 EconE // Oct 1, 2007 at 10:08 pm
WOW! What a great thread. I’ll bet you are now going to be “persona non grata” at any future condotel gala wine and cheeze parties.
I’m with Jo…green?…Just give me something quality that lasts. That’s green in my opinion. It’s not like I’m asking for lead based paint but really…”Built Green” is almost marketed in such a way that it conjures up images of “non-green” buildings belching plumes of toxic smoke.
I love how the developers/corporate execs…whoever…try to shove “green” up our collective a$$es while they fly around on corporate jets or cruise the oceans in superyachts. Practice what you preach is what I say.
for example…here’s an interesting article from the past that talks about corporate jets…look who gets mentioned towards the end!
http://moneycentral.msn.com/content/P131860.asp
11 mhays // Oct 2, 2007 at 2:19 pm
Yes, practice what you preach, but green is very worthwhile. We use too much energy and resources, both for construction materials and for building operations such as HVAC. Of course, if you can live in a condo and not drive (or drive less), you’re being green already compared to most in the US.
It’s a sketchy neighborhood now, but it’s turning around very quickly. I love the location. Hopefully heroin teriyaki at Pike will remain, because I loooove my regular chicken extra sauce extra dressing no fork no napkin no bag.
12 Alex // Oct 3, 2007 at 9:23 pm
What the $1400sq/ft? I think I just crapped my pants and it’s green! I love how using the whole “green” allows for things to be sold at an extreme price in order for someone to say they are being environmentally sound. If someone really wants to feel good about themselves they really should do something with their money that helps the environment instead of buying some multi-millon dollar place that is likely their second or third home.
Hmm I wonder when people say “green” products exactly what kind of process the products go through to be recycled or reclaimed? I bet the carbon footprint that the process leaves is much worse on the environment than some new products. For some reason huge profit in the name of environment just doesn’t sound right. Did anyone ever see that Simpsons episode where Lisa taught Mr. Burns how to recycle plastic pop can holders?
13 kh // Oct 4, 2007 at 10:46 pm
i agree with those above saying that there are so many industries that are green washing instead of reducing the impact they have on the environment. but the fact still remains that global warming is a crisis and change has to start somewhere…
from the architecture 2030 challenge website:
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