Seattle Condo Review: Blog with News & Advice about Seattle Condos

Seattle Condo Market update

Spring is here so let's see how the numbers are looking.  For the month of March, inventory remains high in Seattle at 52.43% compared to same time last year.  Year-over-year pending sales dropped 27.76%. In fact, from January to March 08, we have seen a consistent drop in closed sales over the same time last year.  However, in March, median price for Seattle condos increased by 4.11%. 

Days on market remains longer than same time last year for all the neighborhoods.  Months of inventory in Belltown/downtown has recovered from early this year.  In January, Feburary and March, the months inventory has been shrinking from 14, to 8.3 to 7.6.  It looks like we are moving from a buyers' market gradually to a balanced market in Belltown/downtown.  Kudos to those buyers who picked up great deals in January.

Summary: More property is on the market and staying on the market longer than last year; however, sellers are not slashing prices nearly as much as some had expected.  Most homebuyers are taking a little bit longer to decide on their purchase knowing that there is not as much urgency.  Sellers on the other hand are still holding on to the prices they believe their condos ought to command and in some cases are making a symbolic reductions in the price but rarely more than 10%.  For the sellers who can wait, they are opting to rent out their condo to capitalize on the strong rental market.

Flashback: I was curious how many readers were right about their prediction on the market for March 08 compared to Fall 2007?  22% of SCR voters were right that the market will perform the same in March (~5% change in median price) compared to September 07 but sell at a slower rate.  About half of the poll takers incorrectly predicted in October that the pricing in the spring would drop by up to 30%.

-Wendy

Montage Update

Montage condominiums replaces the site of a parking lot and is a new addition close to the Pike/Pine corridor. The sales center is set to open in a few weeks' with prices for their units still in the tweaking stages. Here is a summary of my thoughts after taking a sneak preview tour yesterday.

1. Well laid out floor plan- Master suite in most of their floor plans, good amount of storage space in the units. Dens are a little on the smaller side. I would probably call it an office nook instead of a den.
2. Generous amounts of outdoor space. All of them come with either a terrace or deck. Approximately 127-375 square feet.
3. Large windows. Even for units facing east, you still get a good amount of light. They even have windows in the hallway which is kind of nice for a smaller condo building. 
4. Attention to small details such as inline on-demand hot water from the sink, recessed lights in the kitchen, solid doors, dual flush toilets, gas cooking, and fireplace.
5. If you are in the market for a two bedroom, I would check out #503. Great layout with 2 decks and neighborhood views.

       

Looking at the exterior, there is nothing striking about the curb appeal but the building has a lot to offer such as interior details and proximity to the Pike/Pine corridor.

Montage

Montage is a built-smart new condo project located on the corner of Pike St and Bolyston Ave and will be ready for occupancy in 2 to 3 months.  The 23-unit building showcases three different floor plans: open one bedroom, one bedroom and two bedrooms, some with dens and master suites.  Prices for these units range from the mid $300,000's to over $600,000 with square footage ranging from 661 to 1,121.  Units feature stainless steel appliances, slab kitchen countertops, high-tech cabling, gas fireplaces, and balconies/terraces.  Two interior packages will be available from which homebuyers can select.  Stay tuned for a detailed review on this project.

-Wendy

1111 East Pike Update

1111 East Pike will be a six-story condominium building with retail space on the ground level and two levels of underground parking. The condo will be a Built Green three-star certified project and include fourteen open one-bedroom's, twelve one-bedroom's and one two-bedroom penthouse.  Prices range from mid $200,000 to low $500,000 and the penthouse will be in the $800,000's.  Unit sizes are 600-1125 square feet with most units including one parking space.  One neat feature is a puzzle door that slides along the ceiling to open or enclose the kitchen.  The project is slated for completion fall this year.

More features:

1. 9-foot floor-to-ceiling windows and doors
2. In-unit moveable hanging puzzle walls
3. Custom built "Urban RV" (moveable multi-purpose storage and countertop unit designed by Tom Kundig) available for purchase
4. Modernist roof line
5. Randomly-placed peepholes in the exterior front door and unit entry doors (sounds kind of creepy but perhaps it will be neat once we see it implemented)
6. Rooftop terrace

-Wendy

1111 East Pike

A new condominium building is coming soon to the Pine/Pike corridor.  1111 East Pike is the first condominium building designed by Tom Kundig, the architect and principal at Olson Sundberg Kundig Allen Architects.  A home designed by Tom Kundig would normally have a hefty price tag; however, for this project, the 27 homes will be offered at a more affordable price point. One of the lead architects from this firm has also designed the Pike and Virginia Condos in the Pike Place Market. Stay tuned. More information coming soon.

    Pike & Virginia Condos

-Wendy

So much for that invisible hand, More conversion inventory on the way

   The Marlborough (First Hill)           De Lorges (Capitol Hill)

While some developers are seeing too much inventory on the market and doing reverse conversions (Expo 62) or partial conversions (Smith Tower), Pioneer Property Group has two conversion projects, the Marlborough and De Lorges in the works.  Pioneer specializes in vintage apartments converions and these two projects are currently going through conversion renovations. If you like what Pioneer has done with their other projects (e.g., Queen's Court, the Pittsburgh, the Nord and Betsy Ross) and you are looking a more old school charm, these projects may be worth a look.

-Wendy

Where in Seattle will the investor money go in 2008?

Most Read SCR Posts of 2007

In case you missed any, here were the most popular posts of 2007.  Happy reading!

-Wendy

1. Escala Update

Summary of the project and Q&A with the Escala sales manager.

2. AVA

Summary an interview with Ava marketing manager.

3. Carbon 56

Summary and scorecard of the Carbon 56 project.

4. Seattle Condos 2.0

What's next?

5. 2200 Westlake Flippers....Still Waiting to Flip

Plight of flippers and discussion on why they were hurting.

6. Four Seasons Update

Summary of project and Q&A with sales manager.

7. Vine, Ellington and Klee

Summary of top Belltown resale buildings.

8. Lumen

Summary of tour of completed project and scorecard.

9. October Market Update

The game of chicken begins between buyers and sellers.

10. The Pittsburgh

Review of historic seattle condo.

Cameo Update

If you are planning to go to the sneak preview event for Cameo on November 2nd, they have just announced that construction has been delayed and the event is postponed.

"The construction timeline for Cameo has been modified due to a delay in obtaining building permits from the City of Seattle. This delay has made it impossible for the General Contractor to fulfull the contract because of scheduleing conflicts. The Developers for Cameo are actively interviewing new general contractors. When a new contractor is selected and new timelines for our VIP event are established, we will announce it on the Cameo website as well as get a notice out to you."

Related Post:
Cameo- coming soon

-About Wendy

Seattle Condo Tour

This month, Fisher Broadcasting has organized a Condo tour for homebuyers to check out a list of participating new construction and conversion projects in several neighborhoods. If you have just started the search process, this may be a good chance to make use of their map to get around to check out the condos. (You may also find my SCR Map useful.)  Fisher Broadcasting is providing a complimentary shuttle service to cart you around from sales center to sales center.

One thing to keep in mind is that if you plan on using a Realtor to represent you if/when you buy, be mindful when you register at the sales centers. Just fill in your Realtor's name when they ask if you are working with a Realtor, otherwise you risk needing to pay more out of pocket or getting limited service should you retain the services of a Realtor later.   

When: September 22nd & September 23rd (Saturday & Sunday)

Where :Shuttle service starts at Fisher Plaza (11.00am)

List of condos : visit www.SeattleCondoTour.com

Related posts:

Do you really need a buyer's agent?
Pre-construction purchase
Picking and working with a Realtor

-About Wendy

Belmont Lofts Update

5 out of 42 units in Belmont lofts have already sold even before their VIP event. The Capitol Hill apartment conversion is currently going through replacement of new siding which is estimated to complete in December. Developed by a Portland company, this would be their first conversion project in Seattle.

A few observations from the viewing tour:

• The most interesting floor plans are the lofts units on the top floors. The ceiling heights are at least 12 feet tall. My favorite would be the 07 series with one bedroom off the living room and a loft level that can be comfortably used as a 2nd bedroom or office. The nice thing about this unit is that it has taller windows.
• The units seem to have slightly higher end finishes than most of the conversion that I've seen. The raised sinks in the bathrooms seem to be the trend nowadays. Marble countertops are used in the bathroom instead of the granite that you would typically see in conversions. Luckily, the countertop granite has smooth edges instead of sharp corners -- I'm not a big fan of sharp cornered countertops.
• The building seems to have a mix of different layouts for their floor plans. The kitchen could be right next to living area or separated from it. You'll probably find a few floor plans that have good bedroom sizes but the living room area is a little narrow to work with.

Trace Lofts walk through

I just did a walk through with one of my clients for their purchase in Trace Lofts. They are closing in a few weeks' time. If you have visited the sale center, you probably remember that only pieces of finishes were presented. No model unit for Trace Lofts was available except for Trace North.

The unit turned out better than I expected and was a pleasant surprise for my clients and me. The finishes weren't the typical slab countertop or high-end cabinetry system; however, when everything is put together, everything goes very well with the fir wood flooring and exposed beams. One of the highlights is the heavy salvage door installed in the bedroom, adding an edgy urban touch to the unit.

So far, 70% of the Trace Loft units are sold. 20 out of their 35 released units in Trace North are also under contract. Comparing the two buildlings' finishes, I would much prefer Trace Lofts given they are more interesting and more lofty feel.

Previous posts:

Trace Lofts preview event
Trace Lofts coming soon

-About Wendy

Cameo

Finally, we are hearing some news from the Cameo folks. The condo which  started marketing more than a year ago is going to have their sneak preview event in November. Floor plans, features, and pricing will be available during the event.

When : November 2, 2007 (Event postponed)

Time : 11.00am-6.00pm

Where: Cameo Sale Center (14th Ave and Pine St)

Related Posts:

Cameo VIP Event Postponed
Cameo- coming soon

-About Wendy

Belmont Lofts

Another apartment conversion, Belmont Lofts in Capitol Hill (231 Belmont Ave E) is coming on the market in August. Previously known as the Belmont Place apartments, the building is currently going through some exterior work consisting of new siding, decks and windows.

The conversion will feature 42 studio, one bedroom, and two bedroom units. 12 of them are either studio lofts or one bedroom lofts which are on the higher levels.

The condo is purported to have views of downtown, Lake Union and Space Needle. Homebuyers can expect hardwood floors, stainless steel appliances, slab countertop and Italian cabinetries to be offered with this project. The units range from less than 400 square feet to the largest unit of 920 square feet. Average selling price for these units will be around $529/square feet.

The VIP event will take place on Aug 10th, 11th and 12th Aug 31st from 10.00am to 9.00pm (Updated on 08/30/07). Prices start in the $200,000's.

-About Wendy

Technorati Tags: Belmont Place apartments, Belmont Lofts condo, Belmont Lofts, Capitol Hill condos, Capitol Hill conversion, Seattle condos, Seattle real estate, Seattle lofts

Harvard and Highland Condos

Tired of high rise condos and looking for something more residential and unique? One interesting project, Harvard and highland condominiums will be located in Capitol Hill’s only residential landmark neighborhood (Harvard and Belmont). This is an area where many of the early 1900’s homes can be found that were designed by several renowned architects of their time. Harvard and Highland condominiums will be a concrete, steel and brick building and is scheduled for move-in in spring 2009.

The project will feature 38 high-end condominiums with units that come with large decks, private patios or terrace spaces. The sizes for these homes range from 1,635 to a whopping 3,745 square feet. This is not the typical type of condo that you see coming up on the Seattle market; the floor plans definitely look more like a residential house than a condo.

      

Anhalt Condos

The Anhalt, located at the intersection of 12th and John, is an excellent example of the fine architecture visible in Frederick Anhalt’s Depression-era, luxury apartment buildings.

Anhalt’s contribution to Seattle architecture is legendary and tends to include revivals of earlier styles. The Anhalt condos are no different and are constructed in French Normandy style. The units are currently being converted and are expected to be available in July.

The Anhalt building contains 7 units. Four of the units are approached from the interior of the building and 3 are stand alone town homes.

The interior units include a studio, a 1 bedroom, a 2 bedroom and a 4 bedroom. The small studio with 443 sq ft is priced at $255,990. The 624 sq ft, 1 bedroom is on the market for $355,990 while the 2 bedroom is 1054 sq. ft. and is available for $526,500. 

The 2,446 sq ft, 4 bedroom, 2.5 bath home comes with a tandem garage and is priced at $990,990. The other 3 units are all 2 bedroom townhomes with ~1000-1100 square feet and are priced from ~$495K to ~$500K.

Betsy Ross Condos

Betsy Ross, one of Pioneer Properties' developments in Capitol Hill, is available for sale with 2 units ready to move in. Their website has been updated with the price list. Floor plans are not available yet.

-Wendy

Previous post on Betsy Ross.

Technorati Tags: Seattle condos, Capitol Hill condos, Downtown Seattle Condos, Seattle condo conversions, Pioneer Properties

Trace Lofts

Trace Lofts hard hat tours started yesterday. It was great to see the project coming along nicely. They have already built out the 4th and 5th level, which is the addition to the existing building.

We entered the building from the sales center which is going to be used for the Gun club. One of the artifact doors serves as the private door leading from the condos to the Gun Club. Industrial artifacts will decorate the common area as well. Even thought the project is not completed, it's not hard to imagine the nick nacks that go with the building exemplify the Pike/Pine corridor character. The sales center has a display of a model bedroom, bathroom, and kitchen of Trace North. Recycled vinyl was used in the bathroom and constantine loop carpet in the bedroom.

Brix condos - Redesigned

Brix condos had their spring open house last week. I didn’t attend but managed to make a quick stop while I was in the neighborhood today. The presentation center was redesigned to showcase a full model home minus the bathroom for their Belmont 1A floor plan. Even though it is not complete, it is still helpful for home buyers considering this floor plan to get an idea of the space.

More info:
Brix condos slideshow
Brix condos previous post

-Wendy

Betsy Ross

Located on 17th and Spring streets, the Betsy Ross Condominiums are a great example of Colonial architecture. Originally built in 1928 the building maintains its historic charm with the benefit of modern day conveniences.

The property is currently being developed by Pioneer Properties who specialize in converting historic buildings into condominiums. The condominiums in this three-story building will be on the market in late spring. 16 one-bedroom condos will be available ranging from 588 to 700 sq. ft. Prices are expected to be between $199K and the low $300ks.

Lights, camera and Action for First Church!

The First Church conversion on Capitol Hill is going to serve as a backdrop and home base for the filming of “The Spy and the Sparrow,” In an effort to support independant film in Seattle, the owners of First Church have delayed construction to provide the site for major scenes in this movie. Matt also posted about this in his blog.

Previous post.

-Wendy

Technorati Tags: First Church condos, First Church conversion, Capitol Hill conversion, Seattle condos, Seattle condo, First Church Seattle, The Spy and the Sparrow

The Court in Capitol Hill

The Court condominiums in Capitol Hill has recently been converted.  Just two blocks away from 15th Ave E, the original building comprises the middle portion of the building with several additional since it was built in the 1920's.

Most floor plans are either studios or one bedroom’s with prices ranging from $130,000’s to $400,000’s.  Interior finishes include stainless steel appliances, hardwood floors and granite countertops.  Many units come with a antique claw-footed bathtub.  Sales for the units commenced two days ago.

 

Pros

- Affordable price range
- Standard package includes hardwood floors in living area/bedroom

Cons

- No parking (available for purchase at $25,000)
- No two bedroom floor plans
- Older building

If you are a minimalist, the space might work for you.

Exterior            Below average

Interior                 Good

Location              Average

View               Below average

Amenities         Below average

Value                  Average

Overall                Average

-Wendy

Technorati Tags: The Court condominiums, The Court, Capitol Hill condos, Capitol Hill conversions

Woof Woof- Where are the pet friendly condos?

I have been told many times by my husband not to dress up my dog. How could I not, she looks great in them. Many homeowners are just like me, we treat our pets as part of the family. Even when it comes time to move, looking for a pet friendly condo is one of the most important criteria.

I've been asked by some readers to write up a list of condos that are pet friendly. So for all the pet lovers out there reading this blog, this post is for you.

In general, most condos allow cats and dogs and up to 2 pets per unit.  A number of condos do have restriction on the breed of the dogs, aggressive breed like pit bull and rottweiler are usually not allow. Many condos have different rules when it comes to pets, so be sure to read them on what you and your pet may or may not do. Here is an example of common rules and regulation for owners with pets.

Do keep in mind that homeowner association may change their pet policy from time to time and it is always advisable to check with them or the management company regarding their current pet policy. You don't want to be surprised at the time of move in that your pet has to be left at the door.

I'll be updating this post periodically, so do check back on the neighborhood that you are interested in. If I have missed a condo (which I'm sure I certainly will, there are a few thousands of condos near the core of Seattle!!!), feel free to leave a comment.  If you have a pet story to share about living in a condo, please do so. I'm sure many pet owners would love to hear your experiences.

Pet friendly and unfriendly Seattle condos.

Off leash parks.

-Wendy

Technorati Tags: Pet friendly condos, Seattle condos pet friendly, Seattle condos, Seattle pet friendly buildings

Trace Lofts update

Trace Lofts preview event took place yesterday and it felt more like a party than a preview event. One prospective home buyer commented that he liked the set up and another was thankful there wasn’t a lot of hard selling.

The first three levels of Trace Lofts is the original structure of the building. The developer has added two additional levels of homes with set back from the original structure.

Douglas fir flooring, reclaimed (recycled) from old buildings will be used in Trace living spaces. Other finishes include bamboo, basalt stone, terrazo and recycled vinyl. Each unit comes with parking and storage. Homeowner dues has not been determined at this point of time but expect them to be in line with other condo projects on the market.

Units will feature exposed brick and beams with ceiling heights starting from under 9 feet to over 10 feet.  Penthouse homes will have some ceiling heights up to 13 feet. Floor plans include open lofts, open one bedroom, one bedroom and two bedrooms. All floor plans will be available online on their website today. The only amenity in the building is a roof top garden. A mid-century Manhattan lounge will occupy one of the retail spaces.

Recent news article on Pike/Pine corridor.

The death of Pike/Pine corridor

Condos soon will replace a bit of Capitol Hill counterculture

When I asked  Edward Krigsman, President and CEO of ek Real Estate Group, how he thinks Trace lofts will impact the local businesses and the overall character of the Pike/Pine Corridor, he responded with the following:

“The Pike/Pine corridor is a unique area, similar in our opinion to the Pearl District in Portland or Yaletown in Vancouver, BC.  It is filled with eclectic businesses and hangouts, with beautiful old buildings next to teardowns and parking lots crying out for redevelopment as the City becomes more dense. The neighborhood is now experiencing an urban rebirth, and we saw Trace as an opportunity to add an interesting piece to the character of the Pike/Pine corridor.  The Trace Lofts project began with the premise that the handsome corner building had always been an iconic entry point into the neighborhood which was crucial to preserve.

Our developer collaborated closely with other key players in the neighborhood to plan for a mixed-use design that would enhance this highly textured environment.  This is particularly true with respect to the street-level retail spaces, which are critical for people to maintain their connection to an area.  Just as Trace Lofts is not displacing any residents, it also does not displace any current businesses.  In fact, our project is adding additional retail space to the area. The developer is working on filling the retail spaces with small, locally owned retailers offering unique products and services with a mix of daytime and nighttime uses.  The first of these is the Gun Club bar currently being built in Trace by Michael Klebeck, creator of Seattle’s beloved Top Pot Doughnuts and Sun Liquors.  We are also encouraging potential retailers to create distinct design elements in their façade, including customizing their own storefronts and signage. 

One of our main objectives for the project is to ensure that the character of the block and its surrounding neighborhood (including 12th and Madison and Pike/Pine) remains intact, strengthening the community and culture that already exists. This is the primary reason we took the path of refurbishing an existing historic building and utilizing an adjacent unused lot to create new living and retail spaces. With the addition of new retailers and residences, we believe Trace Lofts will have a very positive impact on both the retail community and overall character of Pike/Pine.”

Review not available at this moment, please check back in the summer : ).

Trace Lofts previous post and Reservation.

-Wendy

Technorati Tags: Trace Lofts, Seattle Condos, Seattle Lofts, Pike/Pine corridor, Capitol Hill condos

Trace Lofts reservation

Trace lofts announced that their units will be available for reservation in February.  Home buyers interested in these lofts will need to get a pre-approval from Trace's preferred lender (First Horizon Home Loans). For reservation purposes, Trace lofts fall into four price categories:

I $300,000 ~ $375,000 (17 lofts)
primarily 2nd and 3rd floor lofts
approx. 550 ~ 800 sq ft

II $375,000 ~ $450,000 (9 lofts)
primarily 2nd and 3rd floor lofts
approx. 550 ~ 900 sq ft

III $450,000 ~ $600,000 (12 lofts)
primarily 4th and 5th floor lofts
approx. 600 ~ 1,050 sq ft

IV $800,000 + (4 lofts)
2 bedroom, penthouse lofts
approx. 1,100 + sq ft

Floor plans and finishes will be available during their preview event on Jan 18th, Thursday. Conversion of the reservation into a purchase will occur in April 07. Read more on the reservation procedure.

Trace Lofts previous and latest post.

-Wendy

Technorati Tags: Trace Lofts, Seattle Lofts, Seattle Condos, Seattle pre-sales

Trace Lofts preview event

If you are looking for a loft with historic feel that combines with modern days touch, check out Trace Lofts. They'll be having their preview event on Jan 18th. 

Venue: Osteria La Spiga
               1429 12th Ave, Seattle WA 98122

Time:  6.30pm to 9.30pm

The Pine and Pike corridor has been an area where you can find quite a number of lofts condos. Read more on lofts in this neighborhood.

-Wendy

Technorati Tags: Trace Lofts, Trace North, Ted Schroth of GTS Development, Johnson Architecture & Planning, 12th & Pike, 12th & Madison, 12th and Pike, 12th and Madison, Maestri Design, Seattle condos, Seattle lofts, Capitol Hill condos

First Church Conversion- Coming soon

Converting the 1906 First Church of Christ Scientist in Capitol Hill, may not be the easiest conversion project going on in the Seattle but may be one of the more interesting. The original iconic church was built in 1906 complete with custom molding and plaster work, beautiful stained glass windows and awe inspiring exterior stone work. The church sold for $1.1MM even though the vacant lot could have fetched twice as much. The church parking lot with a smaller footprint was sold for $2.3MM.

What was important to the church members according to the church treasurer, Tom Haak, was the preservation of the site. The developers who bought the condo including Joel Lavin are eager for the challenge posed by the building. The church, which is structurally sound, will require seismic retrofitting. In order to maintain the splendor of the original building, the stained glass dome will be enclosed in a central atrium which will be visible from many of the units.

The ~18 condos will be enclosed within the the existing structure surrounding the dome with the addition of clear windows. With an emphasis on preservation, some of the original white-oak pews will be used as doors, trim and benches for breakfast nooks. The marketing for the new condominium project is being handled by Thompson Team Real Estate Group, who note the community involvement in the projection including the use of focus groups in the designing process.

How do you feel about living in a church?

Latest post on First Church.

-Wendy

Technorati Tags: First Church Seattle, First Church conversion, First Church of Christ. Scientist, Capitol Hill condos, Thompson Team Real Estate Group, Seattle condos, Capitol Hill conversion

Trace Lofts/Trace Flats update

Trace Lofts has launched their updated website today. The sales center is scheduled to open in spring 2007. The estimated completion date for Trace Lofts will be June 2007 and Trace Flats around December 2007.

Read more on Trace Lofts/ Trace Flats .

-Wendy

Technorati Tags: Trace lofts, Trace flats, Pike and Pine, Pine and Pike, Seattle condos, Seattle condo lofts, Capitol Hill condos

Cameo- Coming soon

Cameo Condominiums like its already completed sister site across the street, Braeburn Condominiums is committed to enviromentally friendly construction. The community located on 15th and Pine near the popular Pike/Pine corridor is being developed by Hal Real Estate Investments.

The 6 story mid-rise building will be constructed on the site of the old Venetian Theater. Condominiums have views of the Seattle Skyline, the Space Needle, the Puget Sound and the mountains. The 16 different floor plans of studios, 1 and 2 bedrooms range from 449 to 1091 sq. ft. and are priced from $200k.

The majority of the units are residential with a few work/live units. As a certified Built Smart community, Cameo Condominiums will use recycled content materials, water efficient landscaping, high performance glazing, and high efficiency lighting. In addition, Cameo will provide CO2 monitoring in the underground parking garage, and an alternative fuel recharging station. Interior finishings in the units will include slab countertops, wood cabinets, hardwood floors, stainless steel appliances, gas ranges and gas fireplaces in some units.

Common elements will include a fitness center, a community center with a gas grill and dog walking and grooming areas.

Related Post:
Cameo Update

-Wendy

Technorati Tags: Cameo condos, Capitol Hill condos, Seattle Condos, Pine & Pike condos, Bareburn, Hal Real Estate Investment, Williams Marketing

Brix update

Sitting on the north end of Broadway is the site of Brix, a new condo development scheduled for completion in March 2008. The VIP preview event will take place this Saturday at 11.00am and their public opening will be on Oct 21st. Flat units can be found on the Broadway side of the development whereas if you are more interested in a 2 story lofts or northwest style town home, those will be available around the 10th Ave and Mercer side of the condo.

A mix use building with retail on the street level, this 6 story condo will features 141 units with a variety of floor plans. Town homes come with exposed timber beams and modern finishes. 2 story lofts will feature walls-of windows with ceiling heights up to almost 16 feet. Amenities include a roof top deck and courtyard.

Features and finishes

• 2 color scheme options (Trendy and Classic)
• Hardwood floors in kitchen
• Granite countertops or slab milk glass
• Smart box for cable and satellite TV
• Stainless steel appliances
• Brushed steel and glass halogen lights
• Stone slab countertops with undermount sink in the bathroom

Price range

Open Studio                494-550 sf.       High $200s-Mid $400s

1 Bedroom                   497-854 sf.       Low $300s-$Low $400
(Some with den)

2 bedrooms              971-1s165sf.       Low $500s-Low $600s

2 Story Lofts                751-964sf.       Low $400s-High $500s

Town homes           9 47-1,389sf.       Upper $400s-Low $700s

Homebuyers interested in this condo can put down a $5,000 deposit along with a pre-qualification letter from Brix’s preferred lender (Countrywide) to reserve the unit. Reservations will start this Saturday at 11.00am. Final pricing will be available on the week of October 16th. Purchase appointments will occur beginning Oct 17th through Oct 20th. The remainder of the 5% of the purchase price will be required at that time.

Pros

- Good mix of floor plans
- Location, Location, Location

Cons

- Limited closet space for their smaller units
- Private outdoor areas are sparse for many of their one bedroom units

Exterior        Good

Interior        Good

Location    Very good

Value         Average

View          Average

Amenities     Good

Overall         Good

-Wendy

Technorati Tags: Seattle condos, Capitol Hill condos, Brix condos, Williams Marketing, Seattle lofts

Trace Lofts- Coming soon

Trace Lofts

               

          Before                                                    After

Mixing the bones of the original 1920’s warehouse on 12th and Madison with modern construction and desires, Trace Lofts and mixed use high rise, Trace North, will seek to replicate the urban landscape of Portland’s Pearl District. Developer Ted Schroth of GTS Development with the architecture firm Johnson Architecture & Planning LLC , is currently in the demolition phase of a $30 Million retail and residential renovation.

   Trace North

Coordination with the developers of 12th & Pike is aimed at maintaining the sense of eclectic urban neighborhood feel already in existence in the Pike/Pine corridor. Both projects will be using the nationally recognized retail consultant, Maestri Design. Situated in the most densely populated corner of the Northwest region, the new projects are inspired by active city lifestyles.

The project aims to combine the old historic feel of the old turn-of-the-century buildings with the hip and eclectic vibe of more recent years. Both buildings are expected to be completed by Summer 2007.

Trace Loft will feature 42 units ranging from ~$300K to $700K, while Trace North will feature 100 units ranging from ~$200 to $700K. Size will vary from 400 to 1300 sq. ft. with all units coming with their own private decks. The emphasis on preservation will be carried through to the completion of the building with sustainable interior building materials.

Related posts:

Trace Lofts hard hat tour
Trace Lofts walk through

What else is in this neighborhood?

Monique Lofts- 1505 11th Ave
Built ~ early 1900
4 story condo with over 20 units
Warehouse conversion in 1999

 

Pike Lofts- 303 E Pike St
Built in 1998
7 story condo with over 60 units

The Portofino- 417 E Pine St
4 story condo with over 30 units
Built in 1919
Conversion ~1998

615 E Pike St condos
4 story condo with 16 units (some lofts)
Built in 1906
Conversion in 1999
AIA Housing the Northwest award 1999

1310 E Union Lofts
5 story condo with 8 units (Live/work)
Built in 2001
Multiple design awards 

Braeburn- 1420 E Pine St
7 Story condo with 153 units (some lofts)
Built in 2005

19th Ave Lofts- 1812 19th Ave
3 story condo with 45 units
Built 2004

-Wendy

Technorati Tags: Trace Lofts, Trace North, Ted Schroth of GTS Development, Johnson Architecture & Planning,