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August 2008

Trophy Building

Trophy_building_seattle_3Pb Elemental, a design and development company focusing on contemporary residential/commercial design is currently in negotiations to acquire a piece of lot near Denny Way and Yale Ave.

If they are successful in the acquisition, the plan is to build a 440' condo consisting of only 19 homes. Each home will occupy 2 floors with residents having direct access to their home. According to Pb, the square footage will range from 1,700 to 3,500.

If you think that Icon has a narrow foot print (approx. 11,000 square feet), Trophy building foot print is going to be approx. 2,000 square feet. Due to its small foot print, it will pose some structural challenge (Read more on SLOG). Seems like a woman in stilettos. On the other hand, the design is definitely striking and memorable.

The pricing for these homes will start at $2M!! This is close to Four Season starting prices two years ago. However, since their plan is to get the building permitted and wait for the market to warm up, work may not start for 2-3 years.

Related Posts:

Icon Tower
Stewart and Minor


Olive 8 Update

 

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(A close-up on the blue glass sheets that reflects the city below.)

Oilve 8 announced today that they have reached a new milestone in their construction: their exterior blue-glazed windows are now installed. The blue glass canopy is one of the several elements in architect Richard Gluckman's unique exterior design.

According to the marketers, "These ten-foot sheets of deep blue blend seamlessly into the (sometimes) blue sky above and in the evening – with the help of a continuous strip of up-lighting – will glow cool blue."   

Continue reading "Olive 8 Update" »


Insignia Update

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Just like several projects in town, Insignia condos on 5th Ave and Battery St is on hold and the developer is waiting for the market to recover. They are hoping to launch sales sometime in the Spring of 2009. More information will be added to their website in about four weeks. The developer has no intention to turn it into an apartment complex.

Insignia will offer quite a comprehensive range of amenities including 24 hour concierge service, indoor swimming pool, fitness center, wine tasting room, sky lounge on the 41st level, library, meeting room, and a party room.

636 Homes in these two towers will be primarily 2 bedroom and 2 bedroom plus den floor plans with sizes ranging from 950 square feet to 2,000 square feet. The project will be built in two phases. Phase 1 will take 2 1/2 years to complete. Estimated completion for Phase 1 and Phase 2 will be around later 2011 and 2012, respectively. Judging from the size of these homes, it will probably appeal to empty nesters and urban professional couples.

Related Posts:

Seattle Condos 2.0
Seattle Largest Condo Project- Insignia


Four Seasons Update

Four_seasons_seattle_7The exclusive high-end condos in the Four Seasons are scheduled for completion end of October this year. Twenty five of the thirty six homes are sold since they started marketing two years ago.  I took a hard hat tour yesterday and the weather was pretty damp. The pictures didn't turn out quite as what I wanted them but I've posted them nonetheless.

When asked about the thought that goes behind the architectural design, Molly Gleason, the sales manager pointed out that the architects wanted a more subtle design for the building that expressed a northwestern and natural feel that would blend in with the downtown neighborhood. They did not want a pop out design for the building. The interior of the hotel also uses earthy colored slate stones and marble. You can see that same northwestern, earthy feel extended throughout other parts of the hotel as well.


Continue reading "Four Seasons Update" »


Seattle Condo Market Update

July_08_statictis_2July figures continue to show a slowdown in activity in Seattle.  Total active listings for July were 2.3% lower than the previous month but still 14% higher than same period last year. Even though the rate of new inventory added every month has gradually decreased, it is still a buyers' market.

Median prices in Seattle have dropped by 4.45% from $313,945 to $299,975.  This is the biggest drop for this year versus the same time last year.  As for Belltown/Downtown area, total active listings remained the same as same period last year and 5% lower than the previous month. If this trend continues, we may see a gradual shift from a strong buyers' market to more a balanced market.

Sellers who were holding firm on the their price earlier are now more open with a price reduction to move their condo with many of them opting to continue renting out their homes to wait for the market to pick up.  Home buyers on the other hand are putting offers with 5-10% reduction in the price taking full advantage of the market conditions.

Continue reading "Seattle Condo Market Update" »


Ruby Condos

Ruby_condos_seattle_5Ruby Condominiums, a low profile mixed-use condo, is located in the developing Eastlake neighborhood on Eastlake Ave E and Alison Street. Unlike boutique condos such as Eastlake Lofts or the larger construction efforts like Equinox, Ruby will only be featuring 52 one bedroom homes, though many will have alcoves for a den or office.

This 4-story project is developed by Maria Barrientos, the same developer involved in the Stadium Lofts in Pioneer Square, Leona in Queen Anne and several apartment buildings in Seattle. Pricing for these homes is not firm yet but will probably be in the range of $300,000's to $400,000's. Home sizes will be ~600-800 square feet. Contruction started in Spring 2007 and is expected to complete in Jan 2009.


Avenue One Condos

 

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Floor Plan                        Approx. Sq.ft.

One Bedroom                     512-722

One Bedroom plus den        900

Two bedroom                     1,120-1,240   

Two bedroom plus den        1,333

 

 

 

 

Avenue One is one of Intra-corp developments in Belltown. This is a fairly new building completed in 2005 when the market had quite a healthy demand for new construction in Belltown.

Avenue One is a 13-story building comprised of 116 homes offering a variety of floor plans: studio, 1 bedroom, 1 bedroom plus den, 2 bedroom, and 2 bedroom plus den. Studios start at 469 square feet and the largest penthouse is around 1,300 square feet.

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Continue reading "Avenue One Condos" »


Traveling

I'll be traveling over the next couple of weeks so will not be able to respond to comments or emails till the middle of the month.  I will post a couple of new reviews from the road though (working on Avenue One and Ruby).

Thanks,
Wendy


Waterfront Landings Condos

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Waterfront Landings Condos is the largest condominium project near Pike Place Market and is located at 1900-2000 Alaskan Way. The building has 234 units made up by three different complexes, the Viaggio (1900), Lumiere (1950), and Minato (2000). If you are looking for a condominium close to the waterfront, it's hard to get better than this building.

Floor Plans                                            Square feet

Studio                                                  533-710

One bedroom & One bedroom plus den        591-960

Two bedroom                                         1,012-3,143

This 5-story wood framed building has a good number of amenities including onsite building manager, exercise room, guest suites, club room/party room, roof top deck, business center, and courtyard in between the complexes. Waterfront Landings's major selling points are the location and the great water views. Pike Place Market, Seattle Aquarium, and Olympic Sculpture Park are all within walking distance.

Continue reading "Waterfront Landings Condos " »