Trace North is now sold out! The last developer unit, #502, went under contract this week and is now pending.

Fortunately, for those interested in Trace North there are a few resales available.

Enso Condominium – South Lake Union

Enso Condominium

These are also Vulcan’s final two condo units from the last construction cycle, which will complete their foray into condominiums. Presently, Vulcan is reviving its Martin project in Belltown, but as apartments.

   >>  View available Enso condos for sale

1521 Second – Downtown

The 1521 Second tower has closed 117 units and is now over 84% sold. 1521 is a luxury condominium offering exquisite finished homes commanding spectacular city, Puget Sound and Olympic range views. Homes start from just under $1 million.

   >>  View available 1521 Second homes for sale

Olive 8 – Downtown

Olive 8 is now over 2/3 sold with more than 145 homes closed.

   >>  View available Olive 8 condos for sale

Four Seasons – Downtown

The uber-luxurious Four Seasons Private Residences is clinging on to its remaining 11 new homes…there hasn’t been a sale there all year (per NWMLS records). Most of the available homes under $3 million are on the 1st Avenue side facing the Russell Investments tower while the choice view homes start from just over $6 million.

   >>  View available Four Seasons homes for sale

Escala – Downtown

Downtown’s other remaining condominium tower, Escala, has closed 130 homes. That’s another 30 in the past two months, which brings the project to approximately 48% sold. New homes start from the low-$400,000s.

   >>  View available Escala condos for sale

The Decatur – First Hill

Since the switch in marketing firms, and in some cases, price increases, the Decatur has only closed 1 additional home. That leaves about 21 units remaining.

   >>  View available Decatur condos for sale

Marselle – South Lake Union / Queen Anne

Marselle reports they are over 70% sold and still have a variety of home options available from one-bedroom to two-story penthouses. Homes start from $219,990.

   >>  View available Marselle condos for sale

Bellevue Towers – Bellevue

Downtown Bellevue’s upscale Bellevue Towers continue to sell well with over 230 homes now closed and another 20 or so homes under contract, including two $2 million penthouses. That brings the massive twin-tower, LEED Gold Certified development up to 43% sold.

Wells Fargo is now offering financing at Bellevue Towers, which expects to receive Fannie Mae approval later this year.

   >>  View available Bellevue Towers homes for sale

One Main Street – Bellevue

Bellevue’s only other new condominium development, One Main Street, is also doing well with 70% of its homes sold. Prices start from $299,900 and is FHA approved.

   >>  View available One Main Street condos for sale

Hjarta – Ballard

Ballard’s Hjarta Condominium has also done well this year, they are now 70% sold. Homes in this green constructed concrete & steel building start from $274,950.

   >>  View available Hjarta condos for sale

Danielle – Ballard

The Danielle Condominium in Ballard reports they are over 60% sold. Homes at the Danielle start from the low-$200,000s.

   >>  View available Danielle condos for sale

Harvard & Highland – Capitol Hill

The Harvard & Highland Condominium has sold 76% of its luxury homes leaving 9 available. Tucked quietly away in Capitol Hill’s Harvard-Belmont district, Harvard & Highland offers sophisticated in-city living.

Through the end of October, Harvard & Highland is offering an additional broker bonus. We will rebate 2/3′s of the bonus ($10,000) if you use our associates to facilitate the purchase of a Harvard & Highland home by the end of October.

>>  View available Harvard & Highland homes for sale

Disclosure: 1521 Second, Olive 8, Marselle, Harvard & Highland and Hjarta are advertisers of Seattle Condos and Lofts.

This is one that I’ve been following and it finally sold. The smaller north-facing penthouse at 81 Vine Building in Belltown closed yesterday.

Unit #504 is a gorgeous two-level open loft penthouse with a large terrace. It was once listed as high as $599,000 in early 2010 and sold for $404,700.

That reflects a 26.4% decline in value from its previous sale in 2006 for $550,000. View additional property details.

The Fairview

The Fairview Condominium in Mukilteo is looking towards closing out the development soon. There are three luxury condo homes left, including two penthouses, located next to the Harbour Pointe Golf Course. www.thefairviewcondos.com

• Unit #203: 2-bedroom + den, 1,444 sq ft home with 10′ ceilings. Listed at $369,500.
• Unit #507: 2-bedroom + den, 2,489 sq ft home with 20′ ceilings w/exposed Pine beams. Listed at $799,500.
• Unit #501: 3-bedroom + media room, 3,146 sq ft w/20′ ceilings & a rustic fireplace feature. Listed at $998,500.

The current list prices of these three homes reflect a 40-44% reduction from their original prices.

Burien Town Square

The Burien Town Square Condominium development’s revival turned out to be a bit premature. Plans were in place for an August 1st re-launch of the project (see ad on the right), but its new owners seem to be second guessing the vitality of the region’s condo market. From the B-TownBlog:

And Aug. 1 turned out to be too soon for this mega condo seller to pencil out numbers that work. “I’m still not convinced the [real estate] market is settled today,” David Ploger, first vice president of ST Residential, told Burien City Council members Aug. 15.

But ST Residential is looking toward a public launch of condo sales, “although I can’t guarantee it will happen yet this year,” Ploger added. Still, he voiced confidence in their product and the marketability of the condos.

ST Residential and my sources anticipate the project will re-launch this year with prices 35% below their original levels in 2007. Stay Tuned! www.burientownsquare.com

The Decatur

The Decatur on First Hill is making a push to sell its remaining 22 homes reducing prices last week by approximately 15-17% from last list prices (around $30,000). Overall, the current prices are about a 35-40% below their original 2007 pricing levels. www.ownthedecatur.com

View listed Decatur units for sale.

Marselle Condominium

The Marselle Condominium near the Seattle Center just realized a mini-surge in sales – 5 homes went under contract in the past 3-weeks per the MLS, passing the 70% sales mark. Homes are available from $229,990. www.marsellecondos.com

View listed Marselle condos for sale.

Disclosure: Burien Town Square, Marselle and Decatur are advertisers of Seattle Condos and Lofts at the time of publication.

“Our client seeks to accelerate sales so that first time homebuyers receive the full benefit of federal tax credits,” said Dean Jones, President and CEO of Realogics, who is handling the marketing and sales for The Decatur. “Together, we’ve developed an exceptional value proposition and a unique sales approach to encourage buyers off the fence.”

Under the bulk sales program, three blocks of 21 units will be released for sale in sequential phases. Individual unit reservations are available for a $500 holding fee, which becomes applicable to the earnest money deposit. A few weeks later the reservation holders will be aggregated to sign Purchase and Sale Agreements and benefit from others joining in the bulk sale – the more homes that sell, the lower the pricing for the group.

Other incentives include:

• Bulk pricing up to 35 percent off original list prices (the more units sold, the lower the price)
• Zero down payment financing on select products
• Zero closing costs before Nov. 30, 2009 (timed for the first-time buyers tax credit deadline)
• Available interest rates below 5 percent on approved credit
• Innovative mortgage payment assurance program (in case homebuyers are laid off from work)

During The Decatur’s initial release in 2007, 83 of the 146 homes were sold before the development was acquired by Sandalwood Management, who completed the building improvements and held the remaining units until the market improved.

“Buyers have been trying to time the market and so we’ve been patiently waiting along with them,” said Joel Ospovat, principal of Sandalwood Management. “The market is heating up and we’re going to help make their decision to buy a lot easier by offering a volume discount to our early buyers–provided they act quickly.”

Ospovat hopes to close the first release of 21 homes by Nov. 30, but resisted the trend to auction units.

“We’re providing the same value proposition, while eliminating the inherent risk and stress of competing at an auction,” Jones said. “If homebuyers are going to benefit from perishable tax credits, they need to lock up a unit now and move confidently towards closing; there’s no time for surprises. We’re offering homebuyers a sales experience that is as considerate as it is rewarding.”

The first block of units will be released on Saturday, Sept. 26, during an open house event at The Decatur (open 11a.m. – 5p.m., Sept. 26–27). Reservations will be converted to Purchase and Sale Agreements beginning Oct. 17 and must close by Nov. 30 to benefit from the bulk sale pricing, potential tax credits and other incentives offered by the seller.

The “Payment Assurance Plan” offered by Cobalt Mortgage is unique to the industry and provides assistance to borrowers if they become unemployed within 24 months of closing. Mortgage payments up to $1,800 will be provided for up to six months to help homebuyers establish new employment without getting behind on their mortgage. Certain conditions apply.

View floor plans (8.3mb PDF)

www.OwnTheDecatur.com

View available Decatur condos for sale.

Adapted from press release.

Puget Ridge Condos, 9013 16th Ave SW (at SW Henderson)
12 unit complex featuring one- and two-bedroom homes. The one-bedrooms are 514 sf that range in price from $134,500 to $149,500, while the two-bedrooms are 867 sf and are priced from $192,500 to $199,500. Parking included.

Beach Cove Condos, 3633 Beach Drive SW
8 unit building featuring two-bedroom homes ranging in size from 1,080 to 1,120 sf. All homes have exceptional views of Puget Sound. Prices start at $749,000 and top out at $819,000.

Madrona Beach Condos, 1119-1121 Lake Washington Blvd.
This is a converted 4-plex with two units currently available. Both of these are 900 sf and are priced at $469,000 and $489,000, and neither have parking. The building is located next to Madrona Park and has unobstructed views of Lake Washington.

Bleü, 419 21st Ave (at E Jefferson)
6 unit building featuring two-bedroom homes sized between 720 and 780 sf. The homes are priced from $299,950 to $309,950. Uncovered parking is included.

Galaxy Condos, 1800 35th St (at Wallingford Ave N)
9 units with a mix of one- and two-bedroom homes. The one-bedrooms are approximately 570 sf and are priced from $259,950 to $275,000. The two-bedrooms range in size from 670 to 877 sf and priced between $295,500 and $329,950. All but the three lowest price homes come with parking.

6000 Condos, 6000 24th Avenue NW
11 unit building comprised of two- and three-bedroom homes. The two-bedrooms, which range in size from 653 to 801 are priced from $299,950 to $369,950, while the 1,424 sf three-bedroom is priced at $699,950. Except for the three-bedroom, garage parking is extra.

Icon Tower
The other project Laconia is developing in Seattle is the sleek & slender Icon Tower at 6th & Wall. Laconia expects to start construction in August. Completion is slated for the first half of 2011.

Insignia Towers
Work on Insignia Towers (5th between Bell & Battery) may begin as soon as next month according to the developer, Embassy Development, as mentioned in a recent DJC article. That is, of course, dependent on the market showing signs of improvement. The 643-unit project will be constructed in phases with each tower taking up to 37 months to complete.

1 Hotel & Residences
1 Hotel recently announced they’ve completed commercial leasing for the one-block project. Retail tenants will include Equinox Fitness, 1 Spa, the Ocean Restaurant by B.R. Guest who’ll also operate the urban grocer market, and a new retailer for the adjoining Macy’s garage. Completion is anticipated for early 2010.

AVA
AVA noted that they will begin private previews in their new sales center starting in March. The sales center will include a scale-model of the tower, kitchen and bath vignettes, floor plans, representative views and finishes. AVA is one of the few new condo projects to offer homes starting below $400,000. The project recently obtained its master use development permit with groundbreaking scheduled for later this year. Completion is slated for 2011.

114 Pike
There are some new renderings floating around for this project. Though, sources indicate that this project is being placed on hold. I believe occupancy for this project had changed from office/condo to office/apartment.

7th & Westlake
The latest casualty in the condo market shakeup is the office/condo project at 7th & Westlake, confirmed by a principal with Murray Franklyn.

The project will include a mixture of one-bedroom, two-bedroom and smaller studios ranging from 360 to 450 square feet in order to offer homes at a more attractive price range, no doubt taking a cue from Moda’s success with smaller units. Prices are expected to begin in the upper $200,000s and range up to $1 million. It’s still too early to know their exact pricing strategy, but say they start at $275,000 for a 360 square foot studio…that’s $763/sq ft. Hefty. Moda’s price per square foot was about $500, in Belltown even (granted the Moda is a low-rise frame building).

The design includes a 24-story tower and an 11-story tower. Interestingly, elevators will only be available in the 24-story tower with skybridges joining the two buildings. From the rendering the skybridges will be on every other floor. Residents in the 11-story tower will need to retrieve their mail from the 24-story tower, apparently because the distance to the 11-story tower is more than mail carriers are allowed to travel from the street.

Amenities will include two roof-top gardens, a theatre, fitness center, artwork, courtyard and a bridge connecting the complex to Freeway Park.

Completion is anticipated for 2010, along with Icon Tower.

Update Jan 2008: Came across these renderings of the smaller tower and it looks like these might be loft units, which would explain why the walkways are on every other floor. Just a guess.

Image courtesy of MulvannyG2

I previously reported that the developer of Landes on First Hill, Harbor Properties, was feeling out the market to determine whether to develop the project as condos or apartments. Now, it appears Landes will, indeed, be apartments. This is the third formerly proposed condo project to opt for other uses.

Goodwill Property

The Supplemental Public Meeting for the Goodwill property development on Dearborn will be held at Goodwill on Tuesday, July 10th at 6:30 pm. The address is 1400 S. Dearborn Street.

3rd & Cedar

Just South of the Mosler Lofts, a 13-story apartment building has been proposed at the corner of 3rd and Cedar, which will likely affect Mosler’s downtown views. An early design review meeting has been set at Seattle City Hall on Tuesday, July 10th at 5:30 pm.

I noticed the Landes disappeared from the Williams-Marketing website but knew the project was moving forward. So, I contacted the developer to get the scoop. Presently, the developer is undecided whether to market the project as apartments or condos, though they are constructing units with condo-grade finishes. A decision is expected to be made by Summer. Interesting….

The Bellevue Tour:

Loyal readers will have noticed that we skipped across Lake Washington. Bellevue has several interesting and unique projects on the way, many far more ambitious than their Seattle counterparts. In the upcoming weeks we will continue our tour of Bellevue with European Tower, The Residences at Bravern and Belle Arts.

Recycle for Shelter Pets:

Though the Seattle Animal Shelter is a city-run facility, the funds for necessary veterinarian care for homeless and uncared for pets brought to the shelter are provided through Help The Animal Fund (HTAF). Supported by donations, HTAF holds fundraising events throughout the year from bake sales to the Furry 5K Run at Seward Park.

A unique opportunity has become available through the Cash for Critters program. Cash for Critters takes in empty ink jet & laser cartridges and digital phones, and in turn, provides cash for non-profit animal organizations. The good folks at Metro Dog will be facilitating the program on behalf of the Seattle Animal Shelter. Please see the Cash for Critters website for acceptable cartridges and drop them off at Metro Dog.

Sales staff indicates they sold nine-units in the first six hours that homes were released for pre-sale.

Standard features include:

• Exposed brick focal wall in each unit
• Bamboo flooring in kitchen and living room
• European designed Pentco cabinets
• Stainless steel or matte chalkboard finished countertops
• Shaw woven carpet in the bedrooms
• Stainless steel appliances (most units)
• Washer and dryer (most units)

The Nine Cherry Square website, though basic, provides considerable information with floor plans, feature specs and representative views for each unit.

Nine Cherry Square is centrally located on First Hill and is within walking distance to the financial district and Seattle University. The Frye Museum is just a block away and many businesses, restaurants and cafes are just a short stroll away.

View available Nine Cherry Square condos for sale.