Tag Archive | "Hjarta Ballard"

Florera and Hjarta “bulk” sale

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Excerpted from press release.

The developer of the Hjarta Condominium in Ballard and Florera at Green Lake, Pryde + Johnson, will reintroduce condo sales within two partially leased buildings by offering current tenants and new buyers discounts up to 35% off original list prices. Inventory will be officially released for sale on March 27, 2010 as part of a bulk sales approach where the seller offers a volume sales discount in exchange for quick closings.

“We’re meeting the market on price and are committed to selling through as condominiums,” said Curt Pryde, principal of Pryde + Johnson and developer of both Hjarta and Florera Condominiums. “Homebuyers will also benefit from our preferred selection, FHA financing (3.5% down payment), today’s low interest rates and other limited-time incentives such as Federal tax credits up to $8,000 (for purchases contracted before April 30, 2010).”

Anticipating the market correction, Pryde restructured debt to lease unsold homes upon delivery in 2009 – many with an option to purchase. All leases expire in 2010 and will not be extended, he said. “We’re offering unparalleled product at a tremendous value,” said Pryde. “This is reflected in attractive monthly payments and provides for capital appreciation – the law of supply and demand will put upward pressure on values over time.”

As a first phase release, 12 homes will be available for sale at Florera along with 18 homes at Hjarta (30 homes total). Additional homes will be offered for sale as they become available and after current residents consider their purchase option.

  • Studios (578 – 598 sq. ft.) will start from $244,950;
  • One bedrooms (614 – 921 sq. ft.) will start from $274,950,
  • One bedroom plus dens (792 – 923 sq. ft.) will start from $314,950;
  • Two bedrooms (1,037 – 1,447 sq. ft.) will start from $399,950
  • Two bedrooms plus den penthouses (1,331 – 1,578 sq. ft.) will start from $589,950

Realogics Sotheby’s International Realty will represent Pryde + Johnson in their bulk sales program. The local brokerage firm drove dozens of sales at Eleven Eleven East Pike on Capitol Hill and The Decatur on First Hill using a similar volume sales approach instead of an auction.

“We help sellers find the market and offer buyers auction-like prices without the gavel,” said Sam Cunningham, broker and partner in Realogics Sotheby’s International Realty. He points to numerous auctions in the Seattle area, which advertise minimum bid prices up to 60% off but after minimum reserve prices and prevailing market demand, result in sales discounts 20 – 35% off previous list prices. “Recently announced condo auctions and price drops in downtown Seattle will help draw buyers off the fence and into the greater marketplace,” he added. “Considering this highly competitive sales environment and perishable tax credits – it’s a great time to be a buyer.”

The Ballard Four

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Over the past few years Ballard has been reinventing itself. Long the establishment of Seattle’s Scandinavian heritage, Ballard has seen a new group of people migrating to this once sleepy neighborhood. Driven by affordable housing and short commute to downtown people from all walks of life have influenced Ballard’s rebirth – nightlife, a triving neighborhood business center and higher density living.

Four new condominium projects have been completed, under construction or are planned for Ballard, adding nearly 500 new homes – Metropole, NoMa, Canal Station & Hjarta.

Metropole (24th & 57th)
metropole.jpg Metropole is the first to be completed and is move-in ready (upper floor units). It’s a boutique condo with only 31 homes ranging from 709 sq ft to 1,376 sq ft. Floor plans include one bdrm, one bdrm + study, two bdrm, two bdrm + study and two bdrm + office. The homes come standard with upscale finishes. In fact, Metropole does not offer any upgrades.

  • Slab granite countertops
  • Stainless steel appliances with commercial styled gas range
  • Curved interior walls drawing you from the entry to the living area
  • South units with canal & terriorial views
  • Roof-top deck
  • Pet friendly policy
  • Secured parking

Because Metropole is a small building, it does not come with many amenities that the competition offer such as a fitness room & club/entertainiment room. Prices range from $340,000 to over $600,000.

Click here to see if any units are currently available.

NoMa (24th & 56th)
noma.jpg Across the street from Metropole to the east is NoMa which offers 90 studio, one- and two- bedroom homes. Like Metropole, NoMa features many upscale finishes but does offer an upgrade option (e.g. slab granite, glass inset cabinet doors & accent tiles). Standard features include:

  • Bamboo floor in kitchen & entry
  • Maple or Walnut cabinetry
  • Granite tiled countertops
  • Stainless steel appliances (electric)
  • Carpeting in living room
  • Private deck or patio
  • A/C for East and South facing units, plus top floor units
  • Fitness room
  • Library/Reading room & Conference Room
  • Roof-top deck
  • Secured Parking

Of the 90 homes only 20 one and two-bedroom units are available ranging from 696 sq ft to 1,167 sq ft. Prices for the available units range from $305,950 to $524,950. Interesting to note, there has been no price increases for the two bedroom units since sales began. Occupany will begin starting in October 2006.

Both NoMa and Metropole are located 24th Avenue NW, a fairly business North/South road, and on a Sunday afternoon was somewhat noisey.

Click here to see if any NoMa units are currently available.

Canal Station (Leary Way)
canalstation.jpg Canal Station was among the first of the four projects to start selling units in it’s Phase 1 building. Phase 1 has sold all of it’s 169 units except for two junior one-bedroom units, both priced under $310,000. Phase 1 occupancy is slated for Spring 2007.

Canal Station is now gearing up for Phase 2 which will add an additional 109 homes. Phase 2 will include junior one-, one-, one + den, two- and two-bedroom + den units ranging from 530 sq ft to 1,250 sq ft. Features will include:

  • Stainless steel appliances
  • Granite countertops
  • Maple or Cherry cabinetry
  • Electric fireplace
  • On-site manager + concierge
  • Owner’s lounge
  • Outdoor spa and deck w/BBQ
  • Business center and Private conference room

Pricing for Phase 2 has not yet been released and presale is expected to begin in August for registered buyers.

Click here to see if any Canal Station Phase I units are currently available.

Hjarta (Market at 15th)
hjarta.jpg Differientiating itself from the other projects, Hjarta (“heart” in Swedish) is built green and is targeting LEED Silver certification. To be LEED Silver certified the building must use sustainable materials and be energy and water efficient (some of Vulcan projects are LEED certified as well). The LEED features include:

  • Central gas boiler instead of individual water heaters
  • High-performance windows
  • Low-flow kitchen & bath fixtures
  • Water conserving toilets
  • Drip irrigation
  • Low Volatile Organic Compounds – carpet, paint and sealants
  • Recycled content materials – building materials, countertops, railings, carpeting, etc

Additionally, the building will feature:

  • An expansive roof-top deck with P-Patches
  • Yoga studio & spin room
  • Bike storage, Flexcar & charging stations for electric cars
  • A community room with KidSpace (an interative room that includes educational play areas, tree house hideout, climbing walls, rope swings and slides)

Because Hjarta is a green building, it does not have the upscale sheen of the other buildings (granite, designer tiles, high-end wood cabinetry). Hjarta’s first phase includes 79 one- and two-bedroom units. Initial prices range from $309,000 to $574,000, but since pricing hasn’t been finalized, expect it to change…upwards. Currently, Hjarta is accepting Holds (not reservations) without deposit for units on floors 3, 4, 5 & 6. The model showed two buildings, though sales is only for the south building.

What building to choose? The units are fairly similar in size and price range, but do different in amenities and style. Metropole, NoMa & Canal Station’s interior finishes are nearly identical and are reminiscent of the downtown projects, though Canal Station offers more amenities for it’s residents. Hjarta, on the otherhand, will appeal to those who are more environmentally conscious.

One of the questions I hear a lot is why Ballard? I can’t answer that for individual buyers, but overall Ballard is revitalizing itself and it does have a quieter, slower lifestyle than downtown. Residents can enjoy Shilshole, Golden Gardens, Sunset Bowl and Green Lake which are all just minutes away. Plus, downtown is a short commute so it’s perfect for people who work & play downtown but don’t want to live downtown. And it’s resonating with buyers. Canal Station Phase 1 is sold out, NoMa is nearly 80% sold and Metropole is over 50% sold.

Map of the four condo projects.

Updated 8/5/06

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