Founder's Key
Past Projects
The Company
Crystal Peak Projects
Founder's Past Projects

Escala | 1920 4th Avenue - Seattle, WA 98101

SUMMARY
Joseph Strobele has been working in Downtown Seattle to assemble land since 1998. In 1999 he began to assemble a premium site comprising the four lots on the prestigious corner of 4th and Virginia in Downtown Seattle. Joseph targeted this site for its location at a nexus between three of Seattle’s most popular neighborhoods Downtown Seattle, South Lake Union, and the waterfront and its unique view from 4th Avenue which gives ESCALA territorial and spectacular 360 degree views. Joseph performed the pre-development activities and raised the financing for the project to move forward. The events of September 11, 2001 World Trade Center put the project on hold. Joseph kept in touch with the owners over the years.
  • 270 residential units
  • Second deepest underground parking in Seattle at time of construction
  • First class amenities
  • Urban residential units
  • World class penthouses
  • Great views
In 2006 Joseph co-founded the LEXAS Companies, which closed the land through a Joint Venture with Deutsche Bank and $200,000,000 construction loan with Fremont Investment and Loan. Through Joseph’s prior relationship construction commenced with the general contractor JEDUNN January 2007. Only several months after the successful financing of the $200,000,000 loan for the project, the lender, Fremont Investment and Loan went under and could not fund the loan. Joseph simultaneously worked on the development while traveling the US to find new financing. Joseph obtained the last high-rise loan in the country for the cycle closing the new $200,000,000 loan with ESCALA’s new lender, iStar in November 2007. A magnificent feat by any measure. Joseph and the LEXAS team delivered ESCALA on budget and on time in December 2009.

Olympus Apartment Complex, Seattle WA (Downtown)

SUMMARY

The Olympus was a visionary ground breaking project in downtown Seattle and was built when very few highrises were constructed in downtown. It consisted of two 14 story and one 13 story towers on a base of underground parking and retail. Near the water front, many of the units have specactualr views of the Puget Sound and SAM Sculpture Garden. 

Joseph Strobele was the developer of the Olympus while at Legacy Partners and found the site in 1998. It was completed in 2002. 
  • Three tower highrise new construction containing 327 luxury residential units over commercial space in the prestigious Belltown neighborhood in Seattle, Washington
  • Units range in size from studios, 1 bedroom, 1 bath to 2 bedroom, 2.5 bath + den, 5 Penthouses that are 3 bedroom 3 bath
  • Many units have views of Puget Soundand Downtown Seattle

Stoneway Apartments | 3801 Stoneway, Seattle, WA

SUMMARY
  • New construction containing 280 luxury residential units over commercial space in the prestigious Fremont neighborhood in Seattle, Washington
  • Units range in size from 1 bedroom, 1 bath to 2 bedroom, 2.5 bath + den
  • Many units have views of Lake Union and Downtown Seattle
Under a single purpose entity with various investors, Joseph Strobele assembled what at the time was one of the most prestigious land assemblages in Seattle. Joseph assembled 1.7 acres in the prestigious Freemont neighborhood, at the time it was the largest assemblage of an urban site in Seattle. The assemblage was very complicated encompassing 18 approvals from various sellers, entities, and trusts. The Stoneway Apartments project received approvals for 287 units over retail in a highly contested anti-development neighborhood with many activists. Joseph successfully navigated the city process working with the anti- development activists addressing their concerns and received the necessary entitlements. In the summer of 2013 the partnership accepted an unsolicited offer from the company were he started his Seattle career (Legacy Partners) to sell the project at a substantial profit before the start of construction.

1200 Stewart – Full City Block

SUMMARY
  • 390-540 residential units
​​
  • 984 parking underground stalls

  • First class amenities
​​
  • Urban residential units

  • Possible hotel component

  • Unobstructed views
Joseph Strobele has been working in Downtown Seattle to assemble land since 1998. In 2006 Joseph co-founded the LEXAS Companies. In 2004 Joseph began to assemble a premium site comprising the triangle block bound by Denny, Stewart, and Minor in Downtown Seattle. Joseph targeted this site for its location at a nexus between three of Seattle’s most popular neighborhoods Downtown Seattle, South Lake Union, and Capitol Hill and its unique access directly off of I-5, topography and positioning which give it territorial and spectacular 360 degree views. During the time period from 2004- 2007 Joseph assembled 7 parcels of land in the block and placed them under contract. Joseph simultaneously worked on a commission to re-zone the area to allow for increased height and density on the block to increase its value. Joseph was also able to get a rare alley vacation from the City of Seattle.
profit to a developer.
 In 2006 the city of Seattle revised its Downtown zoning code, including the subject site allowing for an increased height limit of 400 feet. In 2007 the LEXAS Companies closed the assemblage of the land through a Joint Venture with Deutsche Bank as its equity partner (RGOF III) and land loan with Bank of Midwest and closed on the 7 parcels in December 2007 and entitlements for two 400 feet towers with a 150,00 SF commercial base were approved. The economic crash of September 2008 put the project on hold. The project eventually sold as an entitled project at a substantial profit to a developer.

The Bluffs |  Luxury Apartments-New Construction

SUMMARY
  • 180 units, 9 buildings on 20 acres
  • Built on a steep high cliff to take advantage of the spectacular water views of Lake Washington
  • Amenities include a full service club house with swimming pool, playground, business center, and fitness center

Providence | Luxury Apartments - New Construction

SUMMARY
  • 200 Units
  • 18 buildings on 18 acres
  • Amenities include a full service club house with swimming pool, playground, business center, and fitness center
While at Legacy Partners, Joseph developed the Providence through a joint venture with the REIT EQR. EQR eventually purchased the project from the partnership.

Leland Place | 617 Market Street - Kirkland WA 98033

SUMMARY
  • New construction containing 25 luxury residential units over commercial space in the prestigious West of Market neighborhood in Kirkland, Washington
  • Units range in size from 1 bedroom, 1 bath to 2 bedroom, 2.5 bath + den
  • Many units have spectacular views of Lake Washington and downtown Seattle
  • Standard finishes include upscale Pedini Cabinetry, Bosh Appliances, Kohler Fixtures, and slab granite countertops
In 2006 Joseph co-founded the LEXAS Companies, which developed Leland Place on its own. Part of the prestigious West of Market neighborhood, the project had to mix in with the historical nature of the neighborhood and had sustainable features.

Bella Terra | Luxury Apartments - New Construction

SUMMARY
  • 235 units
  • 18 buildings on 20 acres
  • Amenities include a full service club house with swimming pool, playground, business center, and fitness center
While at Legacy Partners, Joseph developed the Bell Terra through a joint venture with the REIT EQR. EQR eventually purchased the project from the partnership.