Keller Williams Greater Seattle

Insignia Seattle Towers – Seattle – Belltown

Update September 2013: I’ve confirmed that Insignia will open their sales center this month with special pre-sale opportunity and events.

Update August 2013: Insignia released information highlighting the amenities and design features for these luxury condominium homes.

Update June 2012: Bosa Development has finally broken ground on Seattle’s first new condominium development in 5 years.

Update March 2012: It’s been awhile but I can now confirm that this long overdue development will be re-awakening. Embassy Development / Bosa Development affirmed intentions to break ground on Seattle’s largest condominium project by May.

The old Teatro Zinzanni block between 5th & 6th Avenues and Battery & Bell has been sold to Embassy Development of Vancouver, BC. Though this isn’t exactly earth shattering news, it does express a commitment by Embassy to develop the site. Update: The project has been taken over by Bosa Development of Vancouver, BC.

The proposed development, called Insignia Towers Condominium (website), is big – a $450 million project encompassing two 41-story condominium towers with 707 units. Construction on the first tower broke ground in 2012 and is expected to be complete in late 2014 or early 2015. Each tower will have a lengthy construction timeline estimated to be approximately 29 months.

Interesting quote from the developer in the DJC from 2007: “Most of the condos will be two-bedroom or two-bedroom with dens. Prices in the first tower will start at $750 a square foot, and are intended to be affordable to downtown workers making a ‘decent wage.’ “

According to a September 2013 article in the Puget Sound Business Journal, prices will start in the higher $400,000s and range up to $2 million with price per square foot ranging from $677 to $865.

Insignia Towers is first major condominium start in Seattle since 2007. Construction would not be completed for at least two-years (more likely three-years) so that bodes well for Seattle’s condo market, which now has a dearth of available condo inventory.


View Insignia condos listed for sale

AMENITY HIGHLIGHTS
Forty-first floor sky retreat and resident lounge
Seventh floor open-air park terrace with outdoor grilling area
Outdoor fireplace gathering area
Indoor lap pool and spa*
Steamroom and sauna*
Fitness atrium with yoga and pilates studio
Screening room with entertaining bar
Signature lobby by Mitchell Freedland
Outdoor pet retreat
Pet wash and grooming area
Bike storage with work area
Retail shops along pedestrian friendly street

* Proposed future addition to North Tower

DESIGNER RESIDENCES
One and two bedroom plans with dens in select residences
360 degree Views of the city, Puget Sound, Lake Union and mountain ranges
Designer interiors by Mitchell Freedland
Quartz kitchen countertops
Bosch stainless steel cooktop, oven and microwave
Bosch cabinet-front dishwasher
Thermador cabinet-front refrigerator
Sleek European-inspired cabinetry
Engineered hardwood floors
Marble or quartz bathroom countertops
Whirlpool washer and dryer
Walk-in closets in most residences
Private balconies or roof decks in most residences
Onsite storage for each residence
Targeted LEED Silver sustainable design

Stay tuned for more information!




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About the Author

About the Author: Ben Kakimoto is a condo marketing specialist and publisher of The Seattle Condo Blog. Ben's focus is urban residential properties in Seattle's metropolitan core. Contact Ben to learn more about the Seattle condo and loft real estate market. Find Ben on Google+, Twitter and Facebook. .

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There Are 20 Brilliant Comments

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  1. klt says:

    Nice looking complex. A good way to protect some view – develop the whole block, too bad this could not have been the case at the Cosmo. I thought all the Clise properties were being marketed as a complete package. Appaarently not.

  2. 1klt says:

    Two bedrooms don’t sell. Good job unloading this beast before attempting to unload those 2’s. I see this pulling a Domain / Expo 62 once underway and presales are lagging.

  3. Josh says:

    ^ What happened to Domain and Expo 62? Did they stop construction or lower prices dramatically?

  4. jcricket says:

    What evidence do you have that 2 bedroom condos don’t sell? Ignoring the recent lull, everything I’ve read shows they sell better than any other kind of condo.

    And there’s no way all the 13 acres of Clise property were going to sell to one developer. They put them all on the market at the same time, but that’s different.

  5. klt says:

    jcriket..internal sales data and market info. you’re wrong. 1 bedrooms sell the most rapidly and alcove studios -not hotel room studios. read what you want.

    Clise is going to 1 developer -its part of the bidding process. My bet would be a UAE fund buying then selling individual parcels possibly.

    Domaine / Expo are circulating for sale market. It would be tough to get rents to support the sales price however.

  6. Ben_Kakimoto says:

    From the Seattle Times Today:

    Clise has narrowed the list of potential buyers to four or five “who have the capability of developing the whole property as it ought to be done.”

    It is hoped that a sale — if there is one — will come in the first quarter of 2008.

    But that’s a big if, [Clise President Richard] Stevenson adds, given the nation’s financial jitters.

    He repeats what the company has said all along: “If we don’t get the right price and the right buyer, we won’t sell. We don’t have to.”

  7. The says:

    Awful and terrible! The architecture doesn’t even fit with the neighborhood! What are we doing with this city?! I thought we were a classy, elegant city! I’m sick of this glass box nonsense. What is this place going to look like in 20 years? Yuck!

  8. Ben_Kakimoto says:

    I just uploaded another rendering from the Insignia Ads showing the West side. It’s not awe-inspiring, but it’s not bad. The street level appeal isn’t great, it looks like one big behemoth box. It would be more desirable if they designed street level plazas providing open gathering spaces for residents and pedestrians.

  9. Larito says:

    hope to be the operator for this building with KIMACO LLC.

  10. miketuck49 says:

    What’s the status of sales at Insignia? How can I find out what’s available?

  11. Ben Kakimoto says:

    Miketuck49 – info I’ve come across point to this project is also waiting out the market with a number of other proposed condos. They did put up signage awhile back but there hasn’t been any further movement.

  12. miketuck49 says:

    Looks like there’s activity at the Insignia site. Any uppdate?

  13. Ben Kakimoto says:

    The site is currently being using as the staging area for road crews doing work in Belltown. Unfortunately, nothing will probably happen until at least next year.

  14. klt2 says:

    There are also 40 or 50 cars on this lot… all with “clunker” spray painted on the side. One assumes that these were trade ins on the recent government “cash for clunkers” program. Interestingly there are quite a few late model vehicles on the lot that are clearly worth more than the $4500 that was the credit given for the trade in. eg of late model cars – Nissan SUV, Jeep Cherokee SUV, 560 Mercedes. Off topic…but kind of interesting.

  15. miketuck49 says:

    Thanks, Ben. I enjoy reading your posts.

  16. Ben Kakimoto says:

    Update: Mind you this is hearsay, but I do believe the source to be credible. It appears the city signed a 3-year lease to use the site during the duration of the its Belltown repaving project, which runs through 2010.

  17. Bill says:

    Now that the project is on again, is the developer still proposing $750 per sq foot?

  18. Ben Kakimoto says:

    @Bill, the current market may not be able to support it, but in 2-3 years from now, and if Insignia is the only project on the market, it could be. This is a quote from the developer in a recent Seattle Times article:

    While condo prices at Insignia haven’t been set, Bosa said, “they’ll be more than you can buy anything [downtown] for now.”

    Here’s a link to the article: http://seattletimes.nwsource.com/html/businesstechnology/2018381822_insignia08.html

  19. Phoenix Lopez says:

    My opinion is that Seattle has too many boxed buildings. Does it have to do with using as much space as possible because I’m all for highrises with spires, like Atlanta and Philadelphia, the more pyramid shaped tops. I’m just happy the economy is picking back up and projects that were once on hold are now being built. I’m excited for Seattle’s future as the skyline goes but we have to remember when we’re filling spaces to stop and take a scenic look ( from the west Seattle lookout maybe) and see what’s missing in our skyline. Do architects even think that way? I have to say, all the buildings being built right now, all I see are boxes. I highly recommend anyone to check out Atlanta and Philadelphia’s skylines, they are absolutely stunning. Don’t get me wrong, I love Seattle. If I didn’t care I wouldn’t be writing this. Any positive feedback would be appreciated…Peace : )

  20. Cal says:

    Yes…..I agree. Atlanta skyline is very nice. Looking at the skyline keeps the eyes gazing from one skyscraper to the next. Even the somewhat ” boxed building” has some type of variations to them whether they may be staggered or some other interesting effect to it. Hopefully the prices at Insignia will reduce. MAYBE I’ll consider.

    Cal

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