Construction woes delay NoMa

When Russell Oberg and his wife sold their home last June, they figured they'd spend a relaxing summer aboard their boat on Lake Union before settling into their new condominium in Ballard.

Summer turned into fall, and the Oberg's original move-in date of Oct. 1 came and went. Then fall turned into winter, and the Oberg's were still living on their boat.

Nearly nine months and three amendments to their original closing date later, "And here we are, we're still waiting," said Oberg. "We ended up with a very interesting winter," enduring major windstorms and snow.

The Oberg's were one of the first to buy a home in NoMa Condominiums (North of Market) at 24th Avenue Northwest. The 6-story, 90-unit building has been under construction for more than two years and early buyers were supposed to start moving in last October.

Chris Austin, director of development for Ballard Communities, Triad Development, the Seattle-based company financing the project, said he's "highly confident" that buyers can start moving in by July 31.

Crews are in final stages of construction of the top floor units, sidewalks and decks, said Cindy Scott, a sales representative for the company.

"We are moving forward at a pace that people can see now..." she said. "We've been trying to keep people posted along the way."

Buyers have been kept informed of delays and construction progress through newsletters and meetings, Scott said.

And even though she's never known a new construction project to finish on time, Scott said the delays have been longer than what's typical.

The project hit a few snags late last year.

First, the windows were sent in the wrong color. Then, on a second order, they came in the wrong size. That held up the operation for several months, Austin said, since at that stage much of the work couldn't be done until the building was sealed.

"It's been tough," he said. "It's gone on longer than we anticipated."

Escalating development all over Ballard and the rest of the city has also made it difficult to secure skilled workers, holding up construction further.

"The market is very busy in Seattle," Austin said. "It's a difficult and endemic marketplace."

At each stage buyers have had the option of rescinding their offer or signing an amended contract with a new close date, said Scott.

The Oberg's have signed three new contracts since last summer.

"It's a balancing act for them and I know that," Oberg said. "But for them to get so far off schedule, we didn't expect that."

The delays have also contributed to a ballooning budget.

"The expense of the project exceeded our expectations," Austin said.

And a "fair number" of buyers have rescinded out of frustration or other obligations.

"Everyone has a different situation," Austin said. "Some are more willing to stick it out because of the area. 24th (Avenue) is about as neighborly as you can get."

But buyers who decided they couldn't wait left with up to $40,000 in equity on the table, said Austin.

For instance, someone bought a unit for around $174,000 a little more than a year ago, and recently backed out. Now that unit will be sold for around $214,000.

Triad has compensated some buyers for the inconvenience, such as paying their loan lock fees, but it's handled on a "case-by-case" basis, Austin said.

Ranging in price from $445,000 to $599,000, 20 of 90 units are still up for grabs, primarily two-bedroom units at about 1,100 square feet. The studio and one-bedroom homes, starting at about $180,000, went first.

The Ballard Eagles, the organization that previously occupied the property, will return to the site in the largest of three ground floor commercial spaces below five levels of residential units. A bank will rent the southwest corner of the building and another space has not yet been leased.

Oberg, a member of the Leif Erikson Lodge, said although he's been inconvenienced, it's worth it to move to a neighborhood where he can "simplify" his life and reconnect with his Scandinavian roots.

Though, he wouldn't be surprised if there was another delay.

"We can't really have any faith in what their forecasting is," Oberg said. "But I can't imagine it going on much longer. I think we've suffered through the worst part, and we see an end in sight."

Rebekah Schilperoort may be reached at rebekahs@robinsonnews.com