The Seattle Condo Blog

Olive 8 held a hard hat tour event at the construction site today to show off the building’s progress (I had a prior commitment and was unable to attend). Fortunately, Megan Hilfer of Parsons PR, was kind enough to share a few photos from the event which I’ve posted below.

When completed, Olive 8 will be the tallest residential tower in Seattle and the first condo/hotel development in Seattle to achieve LEED certification. The Hyatt hotel is expected to open at the end of the year while the first occupancy of the condominium is anticipated for early 2009.

View photos (click image below):

The Olive 8 condominium (website) and Hyatt hotel project is progressing full steam ahead with construction now exceeding 22 floors. The project is 80% sold with occupancy of lower level homes slated for January 2009 while the Hyatt at Olive 8 is expected to open this coming December. A model home within the building will be available some time this fall.

With that said, however, recent events and the state of the condo market are on the minds of developers. R.C. Hedreen, Olive 8’s developer, is ensuring that buyers in Seattle’s tallest residential tower receive the lowest price possible as the market continues to fluctuate by offering a price guarantee to new buyers. Should the same floor-plan within Olive 8‘s remaining inventory sells for less than the current price prior to closing, the buyers who contracted for a higher price home will benefit at closing with the equivalent discount to their price.

Acccording to David Thyer, president of R.C. Hedreen, the Olive 8 homes are attracting a great deal of attention and interest, but “We recognize the housing market hesitancy and feel that this guarantee will help shore the confidence of those who are on-the-fence. Buying now offers the best selection and the assurance that they are getting a great value.”