25 on the Park Photos & Drama

First the drama. For those who don’t know the short story on Twenty Five on the Park is that the original developer Dwell signed over the project to City Bank. City Bank went belly up and the project is now owned by the FDIC with Howland Homes as the agents. And now it turns out that the FDIC is a pain in the ass to work with.

Here’s an update from an Urbnlivn reader who is trying to buy a unit:

I signed a contract for one of the back units at 25 on the Park on April 14th, the day before the bank selling the properties was shut down by the FDIC. This past week (June 24) we got word that the FDIC has finally approved the existing contracts and will soon pay to finish the sold units and the common areas. The FDIC won’t close a unit with a temporary certificate of occupancy (TCO), so we have to wait until all units are finished and certified by the city. They estimate another 60 days before closing.

Me, I’m tired of the waiting and the drama. It’s so incredibly hard to get any concrete information from the FDIC. I have a contract with a closing date of June 15. I have my earnest money ready, but no one will accept it. I’ve found a cool townhouse on 19th that I’m probably going to make an offer on soon. It has everything that the place at 25 on the Park has (minus the park location) but is cheaper … AND is owned by an actual builder. Gasp!

Curious about the unfinished shells at 25 on the Park, which you can buy as a three-pack, I went the other night to check them out. Unfortunately they don’t seem to be doing open houses any more but there was a random agent there who let me in.

The kitchens clearly need some work:

909542845 HPPYC S 25 on the Park Photos & Drama

Actually the units need a lot of work:

909541774 GufqC S 25 on the Park Photos & Drama

I also toured a finished unit, 1814B, and I have to say I was not impressed. The units are all jammed up next to each other so you’re going to need blinds on every window. The units are also small. The bathrooms are small, the bedrooms are small and the finishes are uninspired. Unless you get one of the units facing onto 11th I’d pass on this project.

But you be the judge, here are my photos.

About Matt

Matt , Urbnlivn's publisher, has a love for lofts with industrial features and new construction condos that is only eclipsed by his passion for outdoor sports and urban living. Phrases such as “polished concrete” and “exposed brick” are music to his ears. You can also find Matt on Twitter or skiing.

  • Guest

    What a horribly unfortunate case “25 On the Park” has been. Only about 1/3 of the units are actually on Cal Anderson Park. The rest are crammed in so tightly that even at midday no light shines in. An enterprising developer should buy all the remaining units and reconfigure that space entirely. Perhaps a photography studio would work well with the lack of natural light.

  • http://seattlesavvy.com JBowers

    shame. Really like those places.

  • Guest

    The 3 pack of “shells” is listed as 1820 11th Ave Unit A,B,C. Looking at the property brochure that is an interior cluster not actually on 11th Street. Can any one confirm that is the case? If so, the FDIC is intentially mismarketing the properties by giving a street side photo of different units than are actually for sale.

  • Guest

    Twenty Five on the Park is a great location, roof top decks, walking distance to cafes/shops, light rail will soon be adjacent to Cal Anderson Park, this is a great project! The FDIC takeover of City Bank has been the largest Real Estate transfer to date and they have been working around the clock to get up to speed. The FDIC is reviewing and approving offers as we speak. The delay’s some purchasers encounter is very unfortunate. The FDIC is motivated to sell and get these units completed soon as possible!