As we reported on back in November of last year, Canadian Developer, the Burrard Group, was hoping to develop a 40 story condo tower at 1200 Howell in the Denny Triangle. Well, it sounds like, based on the recent PSBJ article, that they are moving forward with the project as condos and plan to break ground by the end of the year. It will be called Nexus because it is in the nexus of South Lake Union, Capitol Hill and Downtown and will be the second (Luma in First Hill being the 1st) high-rise condo in Seattle to break ground since Insignia in Belltown, which is already 90% sold. According to the Burrard Group, now that mortgage payments on condos are comparable to rents, we have reached the tipping point in the market making building condos attractive.
Nexus will have 403 units within it's twisted block design. The 1 bedrooms will start in the mid $300,000s and there will be fewer than 20 pricey penthouse units.
Rendering from Weber Thompson