Olympia commercial real estate company The Rants Group unveiled the design for its luxury condos this week, a 7-story structure that will occupy a vacant lot amid a taproom and fine dining.
The Percival Condos, which will feature five floors of housing built above two floors of parking, are set to break ground in October at Columbia Street Northwest and Thurston Avenue Northwest, with occupancy likely in spring 2020, said Pat Rants, president and chief executive of The Rants Group.
The development is across from Percival Landing Park and in between the Oly Taproom and the restaurant Gardner's.
The building will house 28 units, with the smallest measuring about 1,300 square feet, while the larger units are 2,300-square-feet, or the size of a bigger-than-average single-family home.
Starting price for the smallest units: $725,000. The price for the larger units was not disclosed.
Rants already has sold three units, which suggests there is a market for people who not only want to live downtown, but who also want to own.
"Not everyone wants to be a renter," he said.
The condos will feature large balconies, big enough so that a family could sit at a dinner table outside.
Sanrica Marquez, co-owner of the Oly Taproom, said Thursday that she supports more people living downtown, and as a longtime Olympia resident, she's glad to see some of these projects she's heard rumblings about finally getting off the ground. It also will mean the vacant lot next door will be filled.
But she also said she has some concerns about construction, and the noise and things that might vibrate and shake the old building that houses her small business.
"We're trying to remain optimistic," she said.
The development process isn't over for Percival Condos, but on Thursday the city issued land-use approval and a determination of non-significance with regard to the state Environmental Policy Act. That means an Environmental Impact Statement is not required for the project.
However, a long list of conditions must be met before engineering permits, construction permits and a certificate of occupancy are issued.
Rants has so far talked to about 50 people interested in the condos. What's their first question?
"Do you allow pets?" he said.
The answer? Yes.