Lumen
[youtube:http://www.youtube.com/watch?v=27NK-M01-wg]
The Lumen is a concrete and steel loft development near the Seattle Center. Link: Lumen website
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About the Author: Ben Kakimoto is a Seattle condo and urban real estate marketing & listing specialist. Contact Ben to learn more about the Seattle condo and loft real estate market or about buying or selling a Seattle area condo. Find Ben on Twitter and Facebook. More from this author.
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I looked at lumen pre-construction. I thought the design looked great. But I am sooo glad I didn’t buy there. It ended up looking like a 3 story QFC. and with the office depot signs on the glass – it is going from bad to worse.
Unfortunately, I purchased a unit in the Lumen building and living here has been a nightmare.
After a year and a half of living here the building is still not completed.
The developer removed the cover to a shaft running beside my bedroom and each morning for about 4 months I wake up at 7:00 am to extremely load construction noise from the commercial unit below me. Noise levels are at 80 decibels! Incredible. Since the developer is also the president of the homeowner’s association, I have little recourse.
Considering the large percentage of unsold units and the state of the housing market, home values at Lumen will likely decrease.
The Lumen is not a home.
I have been informed that the remaining 22 unsold units will be auctioned off in May. Starting bids will begin 100-150,000 under market value. This is undoubtedly unfortunate for the existing homeowners who painfully overpaid when they purchased. However, their will be several new buyers who will be getting a condo substantially under market value.
Lumen will be auctioning their remaining homes. They initially informed of an April 26th date but that could have been moved to May. I’m supposed to receive more info today on the auction.
what a trainwreck !! how that building ever got past design review is unbelievable. the 3 story QFC description that another blogger called it is right on.
oh the poor homewowners………even at auction prices i am soooooo glad i bought at Olive 8 !!