6-10-2005
SPECIAL REPORT - REAL ESTATE ON THE PENINSULA
Sunn Fjord condominiums billed as
‘bringing affordability to Bremerton’
By Rodika Tollefson
Agents Ron Olsen and Amy Allen of Coldwell Banker Swanson Realty on the deck of one of the units at Sunn Fjord. With units starting at $95,797, the first phase of the project sold out quickly

When Heather Cottrell decided to move from renting to home ownership a few months ago, there wasn’t much she could find as a single-income buyer. She looked at townhomes and condominiums for about six months, and “a lot of them were very nice but had a lived-in look and feel to them.”

Cottrell, a first-time buyer who works at The Sun in Bremerton, found that many of the options were out of her price range — until she came across Sunn Fjord condominiums.

“I was sold when I walked in,” she said. “They did a spectacular job.”

Those are the type of comments Ron Olsen and Amy Allen expect to hear from many prospective buyers. The duo, from Coldwell Banker Swanson Realty, are the agents representing the property owner, Capital Valley Investments.

“Many people and Realtors think they know what Sunn Fjord looks like but they don’t,” Olsen said. “They need to come see it, it’s not the same.”

Not the same since Capital Valley purchased the 209 of the 223 units and started renovating them. The 11 buildings that were built as condos in the 1980s sold poorly, and have been since used as apartments.

Capital Valley invested into renovating and giving the units a modern look, and the new condominiums have been selling rapidly.

“It’s affordable. It’s a price range that doesn’t have anything in the market from Port Angeles to Tacoma,” Allen said. “People are excited they don’t have to change anything…and they can just move right in.”

First-phase buyers started moving in during May. The phase included 38 units, which are all sold out, ranging from one bedroom at $95,797 to three bedrooms at $135,797. The second phase was undergoing remodeling in May, and reservations began being accepted the last week of May. A total of five phases are planned to be completed over the next two years, with most of the units left being 1,100-square-feet, two-bedroom.

“The tenants get the first right of refusal,” Olsen said. “We are trying to accommodate the tenants and still get our job done.”

The job includes things like new flooring, countertops, paint, wiring, trim work, appliances and other details, as well as outside renovations. Two color schemes are offered, and in some instances buyers can choose which one they’d like, depending on how far along the unit they purchase is in the remodeling process.

Many of the units have water or territorial views. An outdoor swimming pool, clubhouse, hot tub and tennis court are among the amenities. No more than 15 percent of the condominiums will be sold to investors.

“We are trying to make it a nice community so people can feel good about their homes,” Allen said.

Located about 10 to 15 minutes from the ferry terminal in Bremerton, Sunn Fjord is attractive for young professionals, first-time buyers, those who want to downsize, and anyone else looking for a well-priced home, Allen said.

“There is no affordable housing in Kitsap County, and anything there is, you have to do work to it,” Olsen said. “We have 209 units that are as close to new as they can be — bringing affordable housing to Bremerton.”.