The Seattle Condo Blog

The AVA condo and hotel project at 8th and Pine has become the latest development to officially be put on ice. At least for the time being. According to the Puget Sound Business Journal, AVA has suspended active sales and is holding off opening its sales center until the market improves. However, the developers plan to file for a building permit soon, though construction, assuming the permit and design reviews are approved, likely won’t begin until mid-2009.

The same article mentioned that Stewart and Minor, a lofts and hotel project, might get a makeover. The developer, GIS International, has indicated they are exploring other options for the parcel – apartments, an office building or an all condo project. GIS recently put its European Tower development on hold.

Coincidentally, AVA’s marketing team just sent out an update. Here’s what they have to say:

…As we prepare to submit for the final building permits from the City of Seattle, we continue to work closely with our contractor to secure the best possible construction pricing for our future owners. We anticipate receiving final project costing and entitlements by the second quarter of 2009, and will be in position at that time to finalize the construction schedule and occupancy date.

Later this summer, private preview appointments will be available for all Realtors and their interested homebuyers to tour the sales center. You will be among the first to preview the contemporary and sophisticated design palettes which have been custom created for AVA as well as explore home décor options.

AVA (website) announced they’ve recently secured a Master Use Development Permit (MUP). The 39-story tower at 8th and Pine will feature traditional condominium homes and a luxury hotel. AVA’s developers anticipate construction to begin by the end of the year.

The AVA presentation center, located at 8th & Olive, is nearing completion and should open shortly. The center will include a scale model of the tower, kitchen and bath vignettes, final floor plans, representative views and finish samples.

Initially, the center will be open to prospective buyers by appointment only. If you’re working with a buyer’s agent, please have them contact AVA to arrange an appointment and private tour. All homes have been released for pre-sale reservations.

Seneca Towers
The DJC reported that Laconia Development (formerly Levin Menzies) plans to start work on Seneca Towers this summer and anticipates completion in the summer of 2010. Seneca Towers, located at 8th & Seneca, will consist of 294 units in two towers.

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.

“ZEN living in the ZING of downtown” – AVA Condominium

AVA Condominium (website) began early VIP preview and reservation events in mid-September. Presently, all of AVA’s six scheduled preview events are fully booked. For information on future events, please register on the AVA website. Homes may be reserved during the preview events with a $10,000 refundable deposit.

AVA is Seattle’s latest luxury condominium project featuring a 190-room hotel and 200+ condominium homes which are being offered from the $400,000s to $5 million. In addition to traditional condominium homes, AVA also features ten unique two-level townhomes.

Amenities and features include:

• Sleek glass and steel design
• Outdoor heated swimming pool
• SkyLounge
• Fitness Center and Spa
• A signature restaurant
• Business center with secretarial services
• Meeting and conference rooms
• Separate hotel and residential lobbies
• Residential entrances on two sides of the building, including a port cochere
• Close to downtown’s retail & theatre districts

Read the full story

1 Hotel & Residences – Downtown
1 Hotel & Residences broke ground this past week. The $200 million project states they are more than 50% reserved on condo homes and oversubscribed on city suites (hotel / condo units).

AVA Condos – Downtown
AVA Condos will begin scheduling private preview events in July for interested buyers. At 445 feet, AVA will be Seattle’s tallest residential tower.

aZul Flats – Fremont
aZul Flats is offering a $7,500 buyer bonus on 2 bed / 2 bath homes for a limited time.

Fini Condos – Phinney Ridge
Fini announced that interested buyers still have time to select their color scheme. The color scheme selection deadline is July 1st.

CityView – Leshi
CityView reduced prices on select homes and are still offering paid HOA dues for a year and a $5,000 buyer bonus.

The Parc – Belltown
Parc is 85% sold and approaching completion. Homeowners will be able to start moving in later this Summer. Units are still available starting from the mid-$300,000s.

Escala – Midtown
Escala reports they passed the $50 million sales mark during the 1st month of sales.

Trace Lofts – Capitol Hill
Trace reports they have sold over 60% of their homes and have released 10 additional units. The buyer’s lounge is now open in the Gun Club 4-9 PM on weeknights and 10 am – 6 pm on weekends.

For additional information or questions about condo or loft projects, please contact us.

Please see our AVA Condo Preview and Reservation events post.

First Look – Ava Condominium

The newest project from Urban Condominiums is AVA. Formerly known as 8th & Pine, AVA will be the newest hotel / condo project to grace the Seattle skyline following on the heels of 2200, Olive8, Madison Tower, The Four Seasons, 1 Hotel, 2nd & Pike and 600 Denny.

Developed by the Executive Group (hotels) and the FANA Group, the 38-story tower will include 211 condominium homes called “The Residences” situated above the 190-room luxury hotel. The hotel will reside on levels 10 through 17.

Homes are expected to range in size from 700 to more than 2,000 sq ft and are topped by an 8,000+ sq ft penthouse. The upper level homes will be known as “The Estates”. Residential units are expected to be priced from the low-$400,000 to over $5 million.

Homes will feature European-inspired interiors, 9.5 to 12 foot ceiling heights, large balconies / solariums and air-conditioning.

Hotel amenities will include an outdoor heated-swimming pool terrace with cabanas, a Skybar, fitness club, spa, business center and a “signature” restaurant. Residents may also partake in hotel services – housekeeping, valet parking, in-suite catering and account privileges at the restaurant and bar.

AVA has a lot going for it. Its location places it close to the retail core, the convention center and the Paramount Theatre (map). Yet, with its location, potential buyers should consider that a number of other buildings will be developed in close proximity such as Olive8 and the Olivian Tower which may hinder views.

Escala

Escala broke ground this morning. I didn’t stick around for the ground breaking but I did tour the recently completed 2,600 sq ft penthouse model unit; it’s impressive.

8th and Pine

300+ unit condominium, completion expected for 2009.

Seneca Towers

A 7- and 24-story tower project with 210 residences ranging from 450 to 1,600 square feet. Ground breaking is slated for mid-2007, developed by Levin Menzies. Located at 8th and Seneca overlooking Freeway Park.

CarrAmerica

Located in the South Lake Union District, CarrAmerica is a 5-building mixed-use office, retail & residential development. No dates yet.

Images:

8th & Pine

Seneca Towers