Capitol Hill’s Roy Vue, once ‘saved’ from microhousing fate, sells for $11.5M

A Capitol Hill apartment building once at the center of a community effort to save the 1924-era structure from being converted to microhousing has been sold.

The Bellevue Ave Roy Vue Apartments building was acquired by Seattle-based real estate investment firm Kite Partners earlier this month for $11.5 million, according to county records.

Nearly a decade ago, the previous owners of the 34-unit building, Alliance Multifamily Investments, and developers Anew Apartments had an agreement and plan in place to build over the Roy Vue’s garden and overhaul the three-story building to create 147 small efficiency dwelling units in the structure.

The Save the Roy Vue effort was formed to stop the project. Historic Seattle and neighborhood group the Capitol Hill Historical Society joined forces to nominate the property for landmarks protections.

The landmarks board granted the Roy Vue protection status late in 2018.

The designation cited the Roy Vue’s embodiment of  “the distinctive visible characteristics of an architectural style, or period, or a method of construction, its presence as “an outstanding work of a designer or builder” and because “of its prominence of spatial location, contrasts” of siting, age, and scale as “an easily identifiable visual feature of its neighborhood or the city.”

But the designation did not protect the building’s interior — only its exterior and garden.

The designation required a controls and incentive agreement to be worked out between the city and the property’s owners.

Now, Alliance has sold the building it has held since it acquired the property for $1.4 million in 1986, according to county records. The price tallies up to around $340,000 a unit.

Residents say they are concerned about plans for what comes next inside the “saved” building. “While they won historic protections, the building can still be remodeled on the interior,” one tells CHS. “Sadly, the building missed being protected fully by one vote. The new owners have stopped filling vacant units and will likely begin construction on them after the sale closes this month.”

A check of city construction permits, for now, doesn’t show any plans for major work inside the 600-block Bellevue Ave E structure.

The sale is the latest twist in the stories of preserving Capitol Hill’s old — and storied — apartment buildings. A year ago this month, CHS reported on the “Substantial Rehabilitation” fate of Capitol Hill’s La Quinta apartments after residents had raised an effort to save the building. Others like the “Save the Madkin” effort have continued to play out.

The new owner of the Roy Vue is known for upgrading its investments.

Kite Partners says it specializes in acquiring and rehabilitating “underutilized” multifamily properties with goals of providing quality housing by modernizing older buildings with a focus on safety and environmental efficiency.

The firm was founded in 2022 by Kyle Kite, who was previously a lead for acquisitions at Lake Union Partners. He is also an adjunct professor for the University of Washington’s Master of Science in Real Estate program.

Kite has been busy on Capitol Hill. Last winter, it acquired E Howell’s 27-unit Hillcrest building and the 10-unit 1811 Apartments on 17th Ave. Any construction changes at those buildings has been limited to electrical work, according to city permits.

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