Real Estate
Trace Lofts Update
Trace Lofts (website) report they are down to their final 5 units. Four of the units are on the 4th level with the remaining unit on the 5th level. Prices range from $485,000 for a 703 sq ft loft to $850,000 for a 1,154 sq ft loft. Next door at Trace North, construction is expected…
February 2008 Market Update
February performance results expressed the buoyancy of Seattle’s condo market. As we’d expect moving towards Spring the market is beginning to pickup with increases in the number of sales, closings and median price. Compared to January there was a 20.7% increase in the number of properties going under contract (pendings), a sign of buyer’s confidence…
1 Hotel, Where R U?
1 Hotel announced they are delaying start of the project again, this time for another 6 months due to a second redesign of the project, according to the DJC. The redesign will add traditional hotel rooms and reduce the number of the City Suites. The plan now calls for 51 traditional condos, 44 City Suites…
Bellevue Towers Price Protection
Following Olive 8’s lead Bellevue Towers is now offering a price protection guarantee to new buyers. This program guarantees that the price of a home purchased now will be appropriately adjusted at closing if similar homes are subsequently sold for less than the current list price. In addition, Bellevue Towers is offering a limited-time rate…
New Green Lake Condos
A couple of new condo developments are coming to Green Lake. With significant revitalization projects underway on the Northeast end of the lake, it’s good to see new developments on the West side. Information is sparse, and subject to change, but this is what I’ve been able to gather so far. Tyee At Greenlake Currently…
New Downtown Apartments
The condo front has been pretty quiet so I thought I’d highlight some of the new apartment developments coming up in the downtown area. A number of the apartment projects rival the scale, amenities and upper-end finishes of new condominiums. The Olivian Location: 8th & Olive Building: 27-story, 224 units Developer: The Hanover Company Architect:…
Marselle Condominium – first look
If you’ve been by the Space Needle recently you’ll have noticed a hub of construction activity along Denny Way near Aurora. Currently, four projects are under way including two apartments, a hotel/apartment complex and a new condominium. The Marselle Condominium, at 115 Aurora Ave, is the latest addition to the burgeoning area just north of…
Hyatt Place Update
When originally conceived, the project at 6th & Denny where Greg’s Japanese Auto used to be was going to be the newest addition to the hotel & condo hybrids popping up in the city. Instead, work is now progressing on a hotel & apartment project. The developer has opted to switch to apartments given the…
Condo Legislative Update – Reserve Studies
A couple of interesting bills are easily moving through the House and Senate concerning condominium reserve studies and reserve accounts. A reserve account is supplemental to an association’s annual operating budget and is used to fund major maintenance, repair and replacement of common elements. The purpose of the reserve account is to offset the financial…
Area Projects Pick Up Marketing Awards
The National Sales and Marketing Council announced its 2008 “The Nationals” Gold Award winners this past Wednesday in 59 categories. The awards honor new-home sales and marketing homebuilders, developers, associates, and consultants. From among the 1,400 entries, Seattle winners were represented by Escala and Veer Lofts (Vulcan): Best Buyer Retention Program – Escala Best Sales…
