• Unit 200-B is a two-bedroom, 1.5 bath, 1,006 square foot home listed at $409,000.
• Unit 200-D is a two-bedroom, 2 bath, 1,096 square foot home listed at $459,000.

There will be an open house for both units on Saturday, April 23rd, from 1:00 pm to 4:00 pm.

View Park Modern listings and property details

Photos are of Unit 200-D. Listing info and photos courtesy of Larry & Dan Wilcynski of Windermere.

The 63-unit Duncan Place soft opened a couple of weeks ago with little fanfare though they do plan a grand opening next month. So far, with just an on-building banner and a few MLS listings, they already have 5 units under contract without pre-selling.

One thing that struck me about the building is that it’s not what you’d typically expect in north Seattle. It’s clean modern design and interior space are reminiscent of condos in Belltown or Capitol Hill, particularly the corner units with floor-to-ceiling windows and open living spaces. Home features and finishes include:

• 8’6″ to 9′ ceiling heights
• Expansive windows providing abundant light
• 27 different floor plans – studios, one-bedrooms and two-bedrooms
• GE stainless steel appliances
• Honed granite countertops
• Hardwood and carpeted flooring
• A/C in 6th floor and two-bedroom homes
• Washer and dryer
• Parking (2 spaces for two-bedrooms) and storage
• Zip car availability

The building is set back from I-5 which helps to minimize traffic noise. At 4:30 pm on a weekday with the window open in a west facing unit the ambient sounds were essentially white noise. For the other three sides it was even less apparent. The developer plans to build another structure that’ll separate Duncan Place from the freeway creating a buffer.

The homes feel spacious due to their oversized windows, high ceiling heights and open floor plans. This is most notable in the corner units on the 1st and 6th floors which have 9′ ceilings. Though, a few of the studio layouts felt a wee bit cozy. Select homes have electric fireplaces and many have patios or balconies. Common amenities include a community room, courtyard and a roof top deck with spectacular city views.

Current price ranges as of 8/19/09 are:

• Studios & Open one-bedrooms – prices range from $185,000 to $230,000. Homes are between 365 to 495 square feet.
• One-bedrooms – prices range from $225,000 to $425,000. Homes are between 585 to 775 square feet.
• Two-bedrooms – prices from $499,000 to $599,000. Homes are between 810 to 1,219 square feet.

Downtown-style does come at a premium, however. While the price points are competitive, on a per square footage basis, Duncan Place is comparable to newer downtown area developments and are a bit higher than nearby Ruby and Ballard’s Canal Station. Homeowner dues also appear to match those with downtown highrises and are unevenly distributed with smaller units paying more per square foot. Based solely on the four units listed in the MLS (as of this writing), the dues for the 392 square foot studio run $.70/SF while the dues for the 1,219 square foot 2-bedroom is only $.42/SF. However, that hasn’t been a deterrence as they’ve sold nearly 10% since opening a few weeks ago.

The development is FHA approved which provides buyers with a 3.5% down payment option. The Duncan Place team anticipates most buyers will be first-time buyers and those associated with the university (faculty, staff and parents of students). Most buyers should qualify for the $8,000 first-time home buyers tax credit. Though, closing time frames could affect the eligibility of FHA buyers as a certain number of sales must be reached before FHA buyers can close on their purchases.

Duncan Place is also offering a rather unique “Move-In Today” lease-to-own program, which may be in response to accommodating FHA buyers mentioned above. Rental rates begin as low at $300 per month for studios (1-bd: $500/mo; 2-bd: $700/mo) with half the rent payment applied towards the buyers down payment. I haven’t seen the details about this program.

Overall, Duncan Place is a good addition to the U-District that offers modern living options not typically found in Northeast Seattle, save for Park Modern. Situated on 47th Avenue NE, it provides easy access to I-5, the University of Washington, the Wallinford district and Green Lake.

The sales office is open daily between 11:00 AM and 4:00 PM, which is located at 4547 8th Ave NE.  Note: a buyer agent / representation registration policy applies.

View available Duncan Place condos for sale.

Click on thumbnails for larger images:

Duncan Place Condos

Duncan Place is the latest condominium development in the University District area located at the SW corner of NE 47th St and 8th Ave NE. With most of new developments near the city center, Duncan Place is only the second new construction project in the U-District in the past couple of years (the other being Park Modern).

When completed in early 2009, the 6-story Duncan Place will feature 63 studio, one-bedroom and two-bedroom homes ranging in size from 361 sq ft to 998 sq ft. Home finishes and features include:

• 8’6″ to 9′ ceiling heights with floor-to-ceiling windows
• European-style wood cabinets
• Honed granite slab countertops
• GE stainless steel appliances
• Hardwood flooring in entry and kitchen
• Deck or patio for most units
• A/C, upgraded appliances & finishes for premium homes
• Common amenities include an owner’s lounge and roof top deck

The location does place it fairly close to I-5, essentially a block away, though the homes will have sound reducing engineered walls. Nearby, residents will find Trader Joes, the Seattle Public Library and Metro Theatres all within a couple of blocks.

The developer is waiting till the project is closer to completion, around December, before announcing pricing levels and accepting reservations. Occupancy is anticipated for February 2009.

www.duncanplacecondos.com

View available Duncan Place condos for sale.

Duncan Place interior

Duncan Place lounge

Novell features 36 studio and one-bedroom condominium homes that range in size from 332 square feet for studios to 670 square feet for the one-bedrooms. Prices are affordable ranging from $179,950 to $259,950.

The homes feature original hardwood flooring & molding, granite countertops, subway tile backsplash, shaker style cabinets, stainless steel appliances, on-site laundry, a Flex-car and leashed parking options and more.

And, rather uncommon for conversions, former tenants have purchased a number of the available units, which speaks well for the building and developer.

The building was originally constructed in 1926 as the Eloraine and was most recently known as the Carter Hall Apartments.

With only 12 condominium homes, Park Modern features one-bedroom, one+den, two-bedroom and townhome floor plans ranging from 746 to 1,933 square feet. The current available homes range in price from $399,000 to $525,000.

Homes feature:

• Floor to ceiling windows
• Bamboo and New Zealand wool carpet flooring
• Solid maple wood cabinets in kitchen & bath
• Welded-in stainless kitchen sink
• Jenn-Air & Bosch stainless steel appliances
• Cast iron tubs in bath
• Radiant floor heating
• Centralized boiler
• Below grade parking

From Park Modern’s developer, Urban Rowhouse:

Conceived as a clear assembly of structure and transparency enveloped by a metal box, portions of the box have been removed to provide relief, varying light conditions and wood tones for added warmth. Vertical circulation is distinguished from the rest of the building by using structural concrete and galvanized steel. These materials, in conjunction with the corrugated siding are complemented by clear vertical cedar siding, and ipe decking at circulation and pedestrian areas.

The interior design focuses on the relationship of spaces, the assembly of surfaces and textures, and the quality of natural light.

PARK MODERN recognizes sustainability in a multitude of ways, including using materials that have an extraordinarily long life span (e.g., metal siding 50 year minimum life, sarnafil waterproofing , 25 year minimum life). This approach reduces the building’s impact now, and over the life cycle of the building, which is not always the case with traditionally “green” construction. From the sustainably harvested bamboo hardwood flooring; sound-blocking and energy efficient low-E windows and doors; to the Ecospace elevator, PARK MODERN successfully integrates style and sustainability.