Want upscale Belltown living, but can't afford the price tag? A new development set to break ground in October 2006 and begin occupancy in summer 2008, attempts to do just that. In exchange for a great location, relatively low prices and luxury finishings, future owners must be willing to compromise on space. This idea, borrowed from bigger cities such as New York or London has already been successful in Seattle at The Montreux building constructed in 1999 at 425 Vine St with studios hovering around the 300 sq. ft. mark.
Moda Condominiums
Features
• Prices range from $150,000 for studios to the $400,000s for two bedroom, two bath units.
• Studios begin at 296 sq. ft. and 2 bed/2 bath units just break the 1,000 sq. ft. mark.
• Developed by HMI Real Estate, the force behind other Seattle based projects such as, Alki Beach Towers, Palermo and Montesano in Mercer Island
• Luxury fittings include; cherry or walnut finished floors, tiled bathrooms, stainless steel appliances and granite or limestone counter-tops
• Located in the heart of Belltown's booming nightlife and restaurant scene but situated on 3rd Avenue which is typically a quieter than 2nd and 4th Avenues
Moda condominium will be having its priority purchase event for pre-registered home buyers between September 13th thru September 22nd from 11AM to 6:00PM.
During the event, home buyers will have a chance to tour three full-sized, furnished units in the sales center, located at 314 Bell Street, Seattle, WA between Third and Fourth Avenue.
Moda units will be available only to buyers who are purchasing a primary or secondary residence; and no rentals will be permitted for at least the first year of occupancy. Home buyers who are interested can put down a deposit of five percent of the purchase price.
(10/01/06 Update: Moda units are sold out.)
Pros
- Affordable pricing
Cons
- Tight square feet, time to put on your creativity hat
Interior Average
Location Good
View Below average
Value Good
Overall Good
Technorati Tags: Moda condo, Mountreux, Moda, HMI Real Estate Inc, Iolanthe Chan-McCarthy, 296 square feet, 314 Bell St, belltown condos
