The upscale apartment market on Capitol Hill has a new, worthy competitor. The 234-unit Lyric Apartments on Broadway and Thomas are now leasing for move-in on November 1st.
Earlier this week, we went for a hard hat tour of the model units and some of the building’s amenities. Here’s a video of our trip. The roof-top deck, with its 180-degree, unobstructed view of Puget Sound and Downtown Seattle is a must see.
The Lyric Apartments were developed by Pillar Properties, a branch of Merrill Gardens. Yes, they are the folks who build all those senior housing complexes around town. Its legacy aside, the Lyric is clearly targeted at young professionals, especially those with money. The penthouse unit, for example, is close to $4,000/mo and a top-floor studio goes for $1,625/mo. Here are the starting price points…
Studio: 456-547 sq ft – Starting at$1310/mo
1 Bedroom: 515-833 sq ft – Starting at $1520/mo
2 Bedroom: 884-1142 sq ft — Starting at $2120/mo
Townhouses: 1022 sq ft – Starting at $2200/mo
Parking is additional. These prices are definitely at the upper end of the market. But Pillar didn’t skimp on the finishes. All units have above average stainless steel appliances, quartz countertops, air conditioning, front-loading washer and dryers, solid cabinetry with soft close doors. The style is modern and clean.
All that plus a community theater, a fitness room, a multi-purpose room and killer location.
“Capitol Hill is arguably the most desirable neighborhood to live in for young professionals,” said Billy Pettit of Pillar Properties. “Nothing has led me to believe we’ll have any issues during our lease-up.”
Pettit added that Pillar is following a long-term strategy with apartments like the Lyric. “We’re not trying to deliver a building to market, lease it up and sell it … our approach is centered on the idea of creating a quietly awesome experience for anyone who lives in our properties.”
Of the 234 units, the developers say about 45 are set aside for low-income residents. The rent for those units is as low as $1,100 per month.