The first occupants of Dwell at Kent Station moved into the 154-unit apartment complex last month.
About 45 percent of the units in the five-story building have been leased, said Kristen Link, senior development manager for Dwell, and 43 units are occupied.
“We have 60 to 65 people actually living in the building,” she said.
Units range from studios, which rent for just more than $1,100 a month, to a two-bedroom, two-bathroom apartment with a den for just less than $2,500 a month.
With a price of $2.05 per square foot, the cost is well under the $3.20 to $3.80 per square foot average in downtown Seattle, Link said.
“People are opting to move out of Seattle to Kent to be able to move to a location where they can essentially roll out of bed and walk to a train that is a one-minute walk away,” John Hinds, Kent Station’s general manager, said during a Kent Downtown Partnership breakfast at Dwell last Friday. “They have all the amenities of Kent Station – all the restaurants and shopping. It is a choice that people are ending up making because they are being forced out of the market of Seattle.”
Dwell is operated by Tarragon Property Services.
Amenities at the complex include a lounge, fitness center, two courtyards – featuring hammocks, fireplaces and games such as bocce ball, a rooftop deck – featuring gardens, barbecues and a fire pit, a bike storage room, a dog run and dog wash, a parking garage and a 24-hour secure locker service for packages.
Residents at Dwell are typically 24-34 year-old couples or single or recently divorced people age 45 and up, Link said. There are no families or people with children living at the complex.
Several Green River College students have rented units, Link said. The college has a campus at Kent Station.
Dwell at Kent Station is the second large apartment complex to open downtown. The Platform opened in 2014 just south of the shopping center along Fourth Avenue.
The City Council approved an exemption last year for Tarragon on property taxes on the building valuation, which is estimated to cost the city about $25,000 a year in tax revenue. The developer still must pay taxes on the land value. The tax exemption will save Tarragon nearly $1.7 million over eight years as it also won’t have to pay building valuation taxes to schools, the Kent Regional Fire Authority, King County and other taxing districts. Tarragon will save an estimated $210,000 a year in property taxes, according to city staff.
For more information about Dwell, go to dwellatkentstation.com.
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