Bosa Development Corp is planning on beginning the first construction phase of a gigantic condo project within the next two weeks. There will be two 41-story, 335 unit condo towers in the Denny Triangle Regade, just a block or so away from where Amazon plans to build three office towers. According to the Daily Journal of Commerce Bosa’s president Natale Bosa said “construction will be done in two phases on a full block site between Battery and Bell streets and Fifth and Sixths avenues.”
The construction plans include 36,000 sf of retail space below the two towers, a swimming pool, lounge area and exercise room, and 900 parking stalls. The project will cost roughly $350-$400 million, and the first tower is scheduled to open at the end of 2014. If the market turns around, and the first tower fills, the second tower will begin. The is the first condo development to be built downtown in five years! For more information, visit the Seattle Times.
The past two years have not been promising for the Seattle Condo Market, and condo developers are finally starting to see a turn around in the Downtown area. According to the Seattle Times, roughly two dozen new projects were at work between 2007-2010 during big the real-estate crash. Many of those who bought the pre-sale backed out and several developers ended up converting their buildings to rental units to cater to the economy. Those who stuck it out had to slash prices, and in many cases had to lower the costs by up to 40 percent.
Today the market is starting to look more appealing and beginning to have the first signs that it will bounce back. A few good indicators include Escala raising some of their prices; one of the largest downtown projects to date, Escala did so quietly, with the majority of their condo units selling for 99% of the asking price, they’ve begun upping the anty as their inventory gets smaller. Also of the 2,500 condo projects that have been built in downtown and surrounding areas, fewer than 250 units is left unsold. There are currently no new projects in place; most developers and lenders have put condos on hold to allow the market to recuperate. If you’re interested in learning more about finding a condo in the Seattle area, here is a list of available units.
After several incidents of falling glass panes, a general contractor for the Four Seasons Hotel and Private Residences building in downtown Seattle is removing the remaining pieces of glass that line the residence balconies. On Sunday, the piece fell onto a glass awning over the sidewalk. The awning cracked but didn’t break, and no one was harmed. There are 300 glass panels in the building that will be removed. In the meantime, the building’s owners will work on a new railing concept for the residence balconies. For more information, see the full Seattle Times article.
One Pacific Tower located at 2000 1st Avenue in downtown Seattle is 2-story luxury condominium building. The building was developed by Vyzis Development Company and designed by Curtis Beattie & Associates. The building was constructed in 1994, and is only a few blocks from the Pike Place Market. This building is close to everything that downtown Seattle and Belltown have to offer. Please follow the link to search Seattle luxury condominiums for sale.
The Banner Building is a luxury condominium building located in Belltown, Seattle. The building is at 80 Vine St. and was built in 1994 and designed by Weinstein Copeland Architects. Comprised of both residential and commercial properties, Banner was built with the concept of work/live spaces in mind. The building won multiple AIA awards , and was one of the first work/live buildings in the city. The 26 units are loft-style open shells with high ceilings and exceptionally large windows. The interiors themselves are very industrial, with exposed beams and concrete floors. Please follow the link to see if there are any current listings available in the Banner Building.
There will be an open house at The Art Stable, Tuesday, May 3rd from 11 AM to 1 PM. Only two condos are left in this award winning building building designed by iconic architect Tom Kundig.
Both units are shells giving you the ability to create your own dramatic and custom space. Floor to ceiling windows take in vistas of Downtown, Olympic Mountains, and Queen Anne Hill as well as the colorful urban fabric of vibrant South Lake Union neighborhood.
The commercially zoning allows the units to be used as live work spaces. Click to read more about the 6th floor condo and 4th floor condo or come by the open house tomorrow to see the condos in person.
In addition, look for a more thorough blog about The Art Stable in the coming days.
The Four Seasons Hotel and Private Residences located in Downtown Seattle was facing financial troubles after having nearly $34 million in construction liens, defaulting in 2009. These troubles were much in part due to slow sales when the Seattle real estate market was beginning to fall apart. The building opened in 2008 with 36 residences, which range in price from $2-$10 million. According to a Seattle Times article published today, the owners of the building, Seattle Hotel Group LLC, have dug themselves out of this hole with financial restructuring. Last week, the Seattle Hotel Group received a loan for $26 million towards the debt, owed to Washington Real Estate Holdings. For now, things are looking up for the ultra luxurious downtown Seattle condominiums. There are eleven residences still for sale in the building. Please follow the link to see one of these luxury condominiums full listing details and photos.
This great, downtown Seattle condo for sale is located in Waterfront Landings, the only building sitting on Seattle’s vibrant waterfront. This unit is a dream of comfort, style and convenience. The rooms are large and sunny and beautifully decorated with fantastic use of space. Everything in the spacious two bedroom, one bathroom unit is well thought out with comfort and utility always in mind. The kitchen is a gourmet delight with Wolf stove, cherry cabinets, and granite counters. The 1,269 sf home boasts a 600 sq ft. private patio, for your use only. This luxury condominium is the perfect lifestyle, in the perfect location. Follow the link to see more details and photos of this downtown Seattle condominium for sale.
Two of the Lakeview Townhouses, Townhouse 1308-A and 1308-B are now on the market for sale. Lakeview Boulevard runs along the west edge of Capitol Hill and overlooks Lake Union. These Urban Seattle Townhomes are a masterful blend of concrete, wood and glass and are very unique because they were designed with sustainable low maintenance materials. 1308-B is a spacious 1,417 sq ft townhouse nestled against the beautiful backdrop of five-acre greenbelt and offers 2 bedrooms and 2 baths. While 1308-A offers 2 bedrooms, den and 2.5 baths. This 1,655 sq ft townhome features floor to ceiling windows with partial views of Lake Union, concrete floors, and large garage. Click this link to learn about Capitol Hill real estate and what this Seattle neighborhood has to offer.
This home for sale in Denny Blaine was recently reduced to $929,950, and is the only house in Denny Blaine priced under $1 million. It is a great house near the end of a dead end street. The home backs up against a greenbelt, so the home is surrounded by a beautiful setting. While the home has two floors plus a basement and has 4 bedrooms and 3 baths, the rooms are a little cozy. This home has a very low maintenance yard, and might be a good alternative for a buyer who is considering luxury condos in the Seattle area.