The Seattle Condo Blog

Gallery Belltown
Buyers speak with their pocketbooks. And, apparently buyers spoke loudly at Belltown’s Gallery Condominium project. When the Gallery project first came online it was touting its SkyLofts concept, true two-level loft homes with 18′ ceiling heights located on the upper floors that offered spectacular city and sound views. But, it seems buyers just weren’t ponying up the big bucks for these units and most of them are now history, replaced with 600 sq ft one-bedroom flats.

Stewart | Minor
The lack of loft living enthusiasts at Gallery hasn’t deterred the developers of the Stewart | Minor high-rise loft project in Denny Triangle. But, Stewart | Minor is somewhat unique. The concept is based on 600 sq ft cube units that’ll offer owners the opportunity to add a mezzanine/loft level, increasing livable space by nearly 50%. The homes feature 18′ ceiling heights that’ll provide ample head room on the mezzanine level, which buyers can add at the time of purchase or at a later date.

The idea behind these convertible homes is Move Up or Move Out. The most common reason people move is because they’ve outgrown their current space. When considering the cost of moving (selling costs, moving costs, time, etc) an average person might spend around $40,000. Stewart | Minor offers the option to finish the mezzanine level for about the same price. Though, to built-out the upper level fully (sleeping area, master bath and closet) may cost up to $100,000.

Unlike Gallery, Stewart | Minor is striving to offer a more affordable price point (starting at $400,000) and has been gaging interests and opinions through a series of design preview events. Construction is expected to begin late 2008/early 2009 with pre-sales beginning next Spring/Summer and occupancy in 2011.

1 Hotel & Residences
The Seattle Times report that New York-based Equinox Fitness will occupy 35,000 square feet of space at 1 Hotel & Residences. Equinox is an upscale fitness center known for its celebrity clientele. Monthly dues will likely start around $130, a premium compared to dues at nearby gyms. The gym, as well as the 5,000 square foot spa managed by Equinox, will occupy the 7th & 8th floors.

The Second + Pine project (website) will be instrumental in the rejuvenation of the Market District in Downtown by bridging the area between the Westlake retail district and the Pike Place Market.

The development will include a world-class hotel brand called “1″ by the Starwood Capital, considerable retail space and several residential tiers appealing to a variety of buyers. Other amenities will include an urban grocer, health club and a day spa. Steve Hanson’s B.R. Guest restaurant and NY-based gym, Equinox Fitness, will anchor the project. Equinox will occupy approximately 35,000 sq ft with monthly dues around $140.

Located between floors 9 to 16 will be 176 “City Suites”, a combination condo and hotel room, ranging from 700 sq ft to more than 1,200 sq ft. These homes will be fully furnished, including two flat-screen TVs, linens and artwork. Owners have the option of renting the rooms to the hotel for hotel guest when not in use. City Suites start at around $560,000.

Above the hotel/City Suites are 51 full condominium homes which will range in size from 1,200 to 6,800 square feet. These exclusive homes are being offered from $1 million to $11 million.

Occupancy is scheduled for 2009/2010.

The sales center is located at 217 Pine Street. Reservations are currently being accepted by appointment.