3rd and Bell Development
On 7/11/11 Daly partners paid $1.2mm for a Belltown Development site located at 2217 3rd Ave. The 6,480 sf site was home to little more than a parking lot and a chain link fence. Challenged with the development of a tight spot in Belltown, Daly partnered with a local architecture firm to design a new 51 mixed-use development featuing 49 modular apartment units, each with a newly designed customizable wall. The $11.2m project broke ground in May of 2013 and is slated to open in December 2013.




 


1701 Dexter Development
Daly Partners is currently launching a new development on Dexter Avenue comprising 68 units with 44 parking stalls. This $16m project is expected to break ground in June of 2014 with a projected grand opening in February of 2015.




 


Eastlake Development
To expand into the Eastlake neighborhood of Seattle, Daly Partners has teamed up with a local architect to design a unique 100 unit complex that incorporates not only 70 parking stalls, but a series of greenspace developments that provide lively walkways for tenants. The $24m development project is on a non-standard polygonal lot and is stationed to break ground in September of 2014.




 


Etruria Development
Daly Partners has been able to secure a 28,800 sf lot on beautiful Etruria street in Queen Anne, where they are planning to enhance the neighborhood with a handsome 103 unit development that will include parking for its residents. They expect to break ground in November 2014 and to finish in July 2015.




 


The Ragley Apartments
Located in one of Seattle's most desirable neighborhoods, Capitol Hill, the stately Ragley Apartments is, above everything else, a premier multi-family property. Daly Partners, LLC and its investment partners acquired the Ragley Apartments in December 2009. Since that time a number of upgrades have been enacted along with the implementation of additional measures to enhance the property's financial performance and value.
 


Ascona Apartments
On June 30, 2009 Daly Partners and its investors purchased the 53 unit Ascona Apartments in Seattle's Downtown core. After executing a much-needed $1.4 Million rehabilitation and the addition of 4 new units, Daly Partners stabalized the property and worked with the City of Seattle on several financial incentives to include the abatement of property taxes for 12 years. The Ascona Apartments is now meeting our partners projected returns while still providing quality affordable housing to downtown Seattle residents and a host of artists who utilize the space.
 


1909 Broadway E. Apartments
In 2007 Daly Partners and its investment partner purchased this 4 story, 3-unit apartment building on the ridge of Capitol Hill. The property has been improved, rents raised, and operating expenses reduced. It is located in a peaceful park-like setting and will be converted to condominiums at the opportune time. Until then, 1909 Broadway continues to be a solid investment.
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Belmont Terrace
On October 4th, 2010, Daly Partners, LLC, along with select investors, purchased for $1.2 million the 10-unit Belmont Terrace Apartments from the FDIC. The building, which sits in Seattle's Capitol Hill neighborhood, just went through a complete renovation and now consists of 10 large 2 bedroom, 2 bathroom units with sweeping views of Lake Union and downtown. The building achieved 100% occupancy by August, 2011, exceeding budgeted rental income by over 10%. In June of 2012, Belmont Terrace sold at a price of over $3.85 million, providing a high return to all investors.



 


The Champagne
Daly Partners, LLC has expanded their portfolio and range by purchasing the 32-unit Champagne Apartments in Bellevue, WA on February 14, 2011. The units are all 2bd/2bth of condo quality with washers and dryers. Daly Partners purchased the building for $4m, all cash, from Home Street Bank and went on to secure permanent financing. Daly Partners considered this a great opportunity for its investors to purchase an "A" product in an "A" location early in the rental growth cycle. The depth of that opportunity was realized in December of 2012, when the Champagne sold for $6.3m, which landed the overall annualized return on investment at 135% for their investors.


 


McKean Condominiums
The McKean Apartments is an 8-unit, 1929 classic brick apartment building on the southwest slope of Queen Anne Hill in Seattle. Construction began in June, 2007 to convert the McKean into condominiums and sales concluded in April, 2008 with two condominiums sold. Daly Partners sold the building in December of 2012 for $2,185,000.
 


814 Howe St. Apartments
Daly Partners and its investment partner purchased this classic Capitol Hill apartment building in 2007 and a long list of deferred maintenance items was quickly resolved. As with 1909 Broadway, rents were raised, operational efficiency improved, net income increased, and the overall appearance of the property greatly enhanced. 814 Howe St was sold in March of 2013 at a price of $1.25m.
 
 


Sequoyah Condominiums
On July 26, 2006, Daly Associates closed on the purchase of the Northwood Apartments in Edmonds, Washington. The project was re-named The Sequoyah Condominiums and phased construction work of converting this 149-unit, 6 building complex into condominiums was completed in September, 2008.


Biscayne Condominiums
After purchasing the Egypt Apartments, Balfour Company converted it into the 59-unit Biscayne Condominium development. The entire exterior, including the roofs, decks, windows, copings, flashings, and cladding, was replaced along with all interior finishes including all unit wall surfaces, cabinets, flooring, plumbing and lighting fixtures, appliances, etc. All common area finishes were similarly upgraded. Marketing began on July 1, 2006 with all units sold by the first week of August 2006.
 
 


First & Bell Condominiums
In May 2002, Balfour Company purchased the parking lot on the corner of First Ave. and Bell St. in downtown Seattle's trendy Belltown neighborhood. An 11 story steel and concrete retail/condominium project was planned by Balfour for the site and a Master Use Permit was obtained for the development. Another developer entered into a purchase and sale agreement with Balfour and the property sold in December 2006. Construction is now complete.
 
 


Midtown Condominiums
Located on Seattle's very desirable Capitol Hill Neighborhood, the 22-unit Capitol Heights apartment building was purchased by Balfour Company in July, 2000. After a $1.2 million dollar conversion was completed, the building was renamed and marketed as the Midtown Condominiums. All units were quickly sold.
 
 


Bering Condominiums
In December 1999 Balfour closed on the purchase of the Bering Apartments, a 28-unit, classic brick building on Capitol Hill built in 1928. Having been wonderfully maintained by the previous owners, Balfour was able to convert the building to condominiums after performing minimal upgrades. The last unit was sold in early 2001.
 
 


Qualman Apartments
Balfour and its investor formed the Qualman Apartments LLC and purchased the Qualman Apartments, a 30-unit community on Capitol Hill, in March of 1998. Since that time Balfour was responsible for the repositioning of this property through the renovation of the exterior, units and common areas. The property was sold in 2003.
 
 


Union Vista Condominiums
As managing member and developer, Balfour was responsible for the development of this new 12-unit residential condominium project, entitled Union Vista, on upper Queen Anne Hill in Seattle. Construction was completed in the spring of 1998 and all units sold.
 
 


Broadway Apartments
In October 1997 a limited partnership, of which Balfour Company was the managing member, purchased the Broadway Apartments, a 33-unit apartment building on First Hill in Seattle. Significant upgrades were implemented to include adding a new unit, windows, and interior upgrades grealy increasing its value, prior to the property being sold in January 2006.
 
 


Balfour Pointe Condominiums
Balfour Company was responsible for the development of Balfour Pointe, an 8 story high-rise condiminium project on lower Queen Anne Hill, from land purchase through sell-out of all units. Construction was completed in December 1997 and all units sold two months later.
 
 


Balfour First West Mixed-Use Development
The development of this new mixed-use project was the responsibility of Balfour Company. Entitled 515 First Avenue West, the 14-unit residential and 1-unit commercial condominium project is located on lower Queen Anne Hill in Seattle. Construction was completed in November of 1997. All residential and commercial units were sold.
 
 


Westminster Apartments
In September 1996 a limited partnership headed by general partner Balfour Company purchased the Westminster Apartments, a 33-unit apartment building on First Hill in Seattle. A substantial rehabilitation and repositioning was completed in the fall of 1997. All units, along with the building's common areas and major exterior elements, were rehabbed, greatly increasing the building's economics. This property was sold in February 2006.

 

 


Balfour Meridian Center
Balfour Company, as the managing co-general partner, purchased the Twin Gables Apartments and two adjacent houses in November, 1992. Located on Seattle's prestigious Capitol Hill in Seattle, preliminary design work was completed for both a new condominium development on the site of the two houses and the conversion of the architecturally-significant Twin Gables. Major refurbishing was completed which signficantly increased the value of the buildings. All properties were sold in 2003.
 
 


Fern Ridge Apartments
Balfour formed a limited partnership in December 1992 to develop a new 50-unit garden-style affordable housing project located in Olympia, Washington. Balfour Company was the developer and is currently the co-general partner and asset manager. Construction was completed in December 1994. The limited partnerships still retain ownership.
 
 


Carriage Place Apartments
In December 1992, Balfour formed a limited partnership to develop a new 49-unit garden-style affordable housing project in Olympia, Washington. Balfour Company was the developer and is currently the co-general partner and asset manager. Construction was completed in December 1994. The limited partnerships still retain ownership.
 
 


Stuart Place Apartments
At the request of the City of Olympia, Balfour formed a limited partnership in December 1992 to convert an abandoned department store building in downtown Olympia, Washington into a retail and 36-unit affordable housing project. The upper floor and roof of the primary building were demolished and four floors of new housing constructed on top of the second floor slab. Balfour was the developer and currently serves as managing co-general partner under a separate agreement. Construction was completed in November 1994. The limited partnership still retains ownership.
 
 


Balfour Place Apartments
Balfour begane development of Balfour Place on July 9, 1991, a retail and 200-unit affordable housing project at the corner of Stewart Street and Minor Avenue in downtown Seattle. Under a separate development agreement, Balfour served as the developer for the project. Construction began in December 1992 and a certificate of occupancy was issued in November 1993. With the limited partnership still retaining ownership, Balfour continues to serve as the general partner and asset manager of this property.
 
 
     
 
     


Zymoenetics
Daly provided architectural design and construction administration services in 1995 for the adaptive re-use of the architecturally significant City Light Lake Union Steam Plant into the new home for Zymogenetics.
 
 


Remi Apartments
Jim Daly provided architectural design and construction administration services for the Remi Apartments project on Eastlake Avenue in Seattle.
 
 


1101 N. Northlake Way, Seattle WA 98103 tel 206 816 3339 fax 206 728 8117