Wendy Leung's Seattle Condo Blog

Seattle Condo Projects Update

 

Fifteen Twenty-One has reached their 100th closing with more scheduled and several new sales pending.   More homes over $1M have closed in Fifteen Twenty-One Second Avenue than any other new construction community in downtown Seattle combined during past development cycle. They have also launched a new testimonial campaign online with 18 residents and merchants from Pike Place Market.

 

The Decatur on First Hill is now 70% sold and was recently featured in NHSMC "Fresh Ideas" Tour.  Financing for the home is now available from 2.25% with no closing costs. 

Eleven Eleven East Pike has 10 homes remaining (27 homes in total) and is having their new closeout pricing from $239,950.   Their new model home is now open.

   
Hjarta condominiums is now 50% sold.  The new model homes are now open and the building is FHA financing approved (3.5% down payment options).

 

Related posts:

Fifteen Twenty-One Opening Ceremony
Bulk Buy Update
Eleven Eleven East Pike
Hjarta & Florence Condos Reintroduced through Bulk Sales

-Wendy 

Bulk Buy Update

Despite the skeptics' view (myself included) that bulk buying was more complicated than it was worth, it looks like folks at The Decatur and Eleven Eleven East Pike are getting some traction.  So far, they are reporting 20 home sales out of their 30 units released from both projects. The second phase of 21 homes from the Decatur has also been released.

The Decatur Phase I & II Bulk Release
Eleven Eleven East Pike Bulk Release

Seattle Times Article
Bulk Sales Update

Related Posts:

Bulk Buy Project Offers Classes
Eleven Eleven East Pike
Decatur is back

Decatur is Back

Decatur, the apartment conversion on First Hill is back on the market and will be releasing 63 remaining homes at a discount of 5% up to 35% off the original listing price. Here are some interesting details from the developer:

1.) Zero down financing on selected products.  Zero closing costs before November 30.

2.) 3 blocks of 21 homes will be released in phases. The first block will be released on September 27th.

3.) Decatur's preferred lender will be offering a "Payment Assurance Plan."

Learn more here.

Maison Jiselle Condos

 

Maison Jiselle is a conversion project on 120 14th Ave.  This is a 16-unit condo, all with one bedroom floor plans.  Square footage for these homes fall a little under 500.  The building is partially converted with more units coming on the market soon. All homes are priced under $184,950 and doesn't come with parking.

The building has updated mechanical, plumbing, windows, and electrical wiring.  There is a center courtyard which gives the condo a little more of a community feel.  The floor plan is really efficient for a one bedroom this size.  Each home has a walk-in closet which slightly offsets the lack of a storage unit.

There's not a whole lot going on in the neighborhood but the location is pretty close to Seattle University, the International district, and Capitol Hill.  If you are very price sensitive, this condo is worth considering as a starter home.

Meridian Condo

Meridian is a fairly new condo located on the sloop of Terry Ave on First Hill. This 27 story high-rise building was built by Taliesen Corp., a subsidiary of Cressey Development of Vancouver, B.C. The 161 homes in the building include studios, one bedroom, two bedroom and three bedroom floor plans.

Studio                     400-429 sq.ft.

One bedroom          557-793 sq.ft.

Two bedroom       1,013-1310 sq.ft.

Three bedroom    1,666-2,657 sq.ft.  

Elektra Update: Short Term Rentals OK

Owners of vacation rental units in Elektra appealed the initial decision against the practice of renting out units for short stays last month.  The hearing examiner ruled that the city could not enforce a 30-day minimal stay and VRUs owners won the appeal. This decision will probably upset some owners in the building who are concerned with alleged risks they believe are associated with temporary visitors. 

Read all the legalese on the hearing examiner's decisions here. 

(Update 03/02/09: I received an email from a resident, Tika Bordelon regarding the status of the appeal.

"The VRU owners had two current appeals and one was "thrown out of court" for essentially being frivolous. The other one is still going through the process but it doesn't look good for them. Many have either sold or converted to long term rentals. Our board attorney has been trying to keep us up to date of the situation, of course, at the end of the "findings and decisions" from the city it states

"...THE DIRECTOR'S CONCLUSION THAT SHORT TERM RENTAL OF THE ELEKTRA CONDOMINIUM UNITS IS NOT A PERMITTED ACCESSORY USE..."

Patrick downs, the city attorney connected to this case and also our lawyer and board all agree that it is illegal to rent for less than 30 days in the Elektra. after that they just become "rentals". The three main VRU companies:)

www.seatoskyrentals.com
www.seattlesuite.com
www.pikeplacesuites.com

They now say on their sites that their elektra properties have a 30 day minimum")

 

Related post:

Elektra: Does your condo building come with VRUs?

 

The Marlborough Update

After rolling out Queen's Court, the Pittsburgh, Nord and Betsy Ross, Live Historic launched their 5th conversion projects, the Marlborough yesterday.  This time the project is on First Hill.

Earlier yesterday before the launch party, workers were busy cleaning up the place and finishing last minute touch ups to the lobby while stagers were prepping the model units.  The vintage charms were evident from the Marlborough seals on the lobby windows, old school mail boxes, crown molding, original french doors, coffered ceilings, and arched windows.

According to Ben Rankin, Principal of Pioneer Property Group, a handful of the units are sold and they are retaining the rest of the inventory for the launch party. The building has been extensively remodeled including new wiring, plumbing, electrical, refinishing of hardwood floors, and replicating of some of the vintage details.  The main envelope work includes the new roof, windows, and cleaning and repairing of the terra cotta carvings.

Live Historic Launch Party - The Marlborough

Live Historic will be throwing a launch party for their latest conversion, The Marlborough on First Hill (1224 Boren Ave) tomorrow from 5.30pm to 9.00pm. The 13-story building is designed by London-born architect Bertram Dudley Stuart and will feature 83 homes with studio, one bedroom and two bedroom floor plans priced from $225,000 to $1,165,000. More information coming up. Stay tuned.

-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

Nine Cherry Square Condos

Nine Cherry Square is a recent apartment conversion to condo located on Cherry and Ninth on First Hill. Within easy walking distance to downtown, the hospitals and Capitol Hill, the condos are also just one block away from the Frye Museum. 

The 41 unit building was built in 1969 and includes studios, one and two-bedroom units. The studios are small at just over 300 sq ft. There are six different floor plans for this condo. The largest units are the 862 sq ft two-bedroom units.

Standard features in the building include, Bamboo flooring in the common areas and woven carpets in the bedrooms. Stainless steel GE Applicances, and individual custom backsplashes and countertops in the kitchen. Recessed lighting fixtures and exposed brick are the highlighted design elements of the building, as well as a balcony off of the living room.

Prices range from $177,000 to $499,000. While there is currently no communal outdoor space, there are plans to build a barbeque area on the south side of the building.

Seneca Towers

Slated for ground breaking in mid-2007 and completion in 2009, Seneca Towers will be built on the intersection of 8th and Seneca. The space is currently occupied by two residential buildings which will be demolished.

Located on the cusp of downtown Seattle, the First Hill area condo will contain both a 9 story and a 25 story stack of condos. Designed by MulvannyG2, who is also the co-architect for Olive 8, Seneca Tower is located within easy walking distance of downtown Seattle, the hospitals on First Hill, and the Convention Center.

The two tower system is designed to maximize the views of the interior facing units.  The views of the building will overlook Freeway Park. The new building is a result of relaxed height restrictions in downtown Seattle passed by the city council in 2006.

According to the land use permit submitted to the city of Seattle, Seneca Towers will include 285 units with retail space on the ground floor in the 25 story building and 25 units in the 9-story building. Homes are expected to range from 450 and 1,600 sq ft.

-Wendy

Technorati Tags: 8th and Seneca, Seneca Tower, MulvannyG2, Olive 8, Eight and Seneca, pre-sale condos, Seattle condos, Downtown Seattle condos

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

Decatur update

Before heading for a client appointment, I had a chance to make a quick stop at the Decatur Grand Opening on Friday on Spring St and Boren Ave in First Hill. Decatur is a 13 story conversion condo with one bedroom and two bedroom floor plans.

A few model units were available for prospective buyers to view to get an idea of the finishes and layout. Finishes include hardwood floors (in entry and kitchen), stainless steel appliances, slab granite countertop in the kitchen, and a retro bathroom with pedestal sink.

Their largest one bedroom in the building is The Monroe floor plan (680-700 square feet). If you prefer space over view, I would check out this floor plan. Their only two bedroom floor plan is the 07 stack on the northwest corner of each level. Homeowner dues for their one bedroom’s range from low to high $200/month with two bedroom’s around $300/month. Sales of the units have already started during the grand opening. If you are interested in Decatur, expect a 30-60 day completion date for move in.  Price list.

Pros

- Nicely layout units

- Newer systems (electrical, plumbing and roof)

- Proximity to downtown Seattle and Capitol Hill

Cons

- Units do not come with parking and storage (Parking available for purchase for $35,000 and storage available for $3,500)

- Narrow kitchen

- No washer or dryers in units (communal laundry room)

- Limited amenities

Exterior:         Average

Interior:          Good

Location:         Good

Value:            Average

View:              Good

Amenities:    Average
   
Overall:         Average

Overall, a decent building with great night views. If you work downtown and don’t own a car, this condo will be a very good match.

- Wendy

Technorati Tags: Decatur condos, Wysong Group, Tobira condos, Empress apartment, First Hill condos, Seattle condos

Decatur condos grand opening

The Decatur condominiums located on First Hill (Spring and Boren) is holding their grand opening on Jan 19th. This apartment conversion was purchased by the Wysong Group which is also converting the Empress Building (Tobira Condos) near Pioneer Square.

Venue : 1105 Spring Street, Seattle WA 98101
Time: 5pm-8pm

Designed by Space Needle architect John Graham Jr. in the 1950s, Decatur will have one and two bedroom units with prices starting from low $200s to low $400s. The square footage ranges approximately 540 to 830 and will be ready for occupancy this month.

When interviewed by the Puget Sound Journal, Jeff Wysong, president of Wysong Group comments that " The Decatur will be a reminiscent of classic New York City apartment buildings featuring great architecture and great accessiblity."

How does Decatur compares to Tobira Condos? Read more on Tobira condos.

-Wendy

Technorati Tags: Decatur condos, Wysong Group, Tobira condos, Empress apartment, First Hill condos, Seattle condos

Asia, Epic & Onyx!

Download AEO.pdf

Asia

Located only two blocks away from Uwajimaya, Asia condos sold half their units within the first two weeks on the market. Most of the two bedrooms were the first to sell out with only 5 units left in the building as of this posting. Right in the International District, the location is definitely a big plus. Residents can do their grocery shopping in Uwajimaya, have a hair cut or drop in to one of the restaurants for midnight snacks during the weekend or catch a game without driving. The Asian influences are evident by the completely remodeled lobby with oriental umbrella, fountain, and the use of slate walls. Dragon printed carpets line the hallway.

Entering the model unit, you can instantly feel the youthful energy. Don’t expect to see neutral colors Carpets come in a variety of colors. One would think that red wouldn’t really work in a condo but you would be surprised. If you are someone who loves the convenience of a supermarket and prefers a secured building, Asia may be right for you. Check out their model unit and it might inspire some creativity in you.

Location: 668 South Lane St, Seattle WA 98104 (International district)

Pluses

• Great location- convenience to supermarket, restaurants, minutes away from downtown Seattle. Easy access to highway.
• Updated amenities in common areas and very secure building.

Minuses

• Traffic can be tricky when there is a game going on, time to consult your mapquest.
• A lot of older buildings in the neighborhood. After all, it is still International district.

Location            4.0/5.0
Interior             4.0/5.0
Exterior             3.5/5.0
Price                 3.5/5.0
View                 3.5/5.0

Overall             3.75/5.0

Onyx

Close to the Bobby Morris playfield, this condo offers a lot of ‘green views’ from their westerly units. The developer put a lot of thought into enhancing the common areas. The lobby is redone, and art work can be seen everywhere. Good taste and great updates to the amenities area. “Spare no expense” was how Stacy Anderson, sale representative for the Onyx, described this new conversion. Check out the lovely rooftop deck.

Pluses

• More updated amenities and secured building.
• Located on a quiet part of Capitol Hill but close to Broadway.

Minuses
Nothing big comes up in mind.

If you need a fully furnished unit as your new home and willing to pay for the premium, Onyx’s model unit comes with high quality furnitures.

Address: 1125 E Olive Way, Seattle, WA98122 (Capitol Hill)

Studio             $189,900-$239,990      436-609 square feet
One bedroom    $234,990-$289,900      539-719 square feet
Two bedroom   $359,900-$529,900    869-1,125 square feet

Location           3.5/5.0
Interior             4.0/5.0
Exterior            3.5/5.0
Price                3.5/5.0
View                4.0/5.0               

Overall            3.75/5.0

Epic

This the quietest location compared to the other two conversions. Except for their studio unit, their one bedroom and two bedrooms come with a balcony. Overall, most units in the building get some sort of view (neighborhood, city or Mount Rainier view.) If a home buyer purchases a unit with its original finishes, they will receive a $5,000 credit for a studio, $6,500 for one bedroom unit and $8,000 for a two bedroom unit. For buyers who like an updated building but are not prepared to spend any money yet on upgrades, you can go with the original finishes and upgrade it at your own pace later on.
 
Pluses

• Located away from the main street, less traffic and thus quieter neighborhood.
• Bigger square footage for your money.

Minuses

• Further away from restaurants and convenience stores.
• Amenities and common areas are much smaller than Asia and Onyx.

Address: 412 11th Ave, Seattle, WA 98122 (First Hill)

Studio                $199,000-$260,000   
One bedroom       $265,000-$300,000      
Two bedroom       $425,000-$475,000   

The three buildings were converted by the same developer from Florida. You can see a lot of similarities in terms of the standards and upgrade options offered, the enhancement of the existing amenities (or creating them if there aren’t any),and improvements of the common areas (lobby, decks and hallway). If you like Athena condo in Queen Anne, These three condos will meet your expectations.

Location         3.0/5.0
Interior          3.5/5.0
Exterior          3.5/5.0
Price              3.5/5.0
View              3.5/5.0 
            
Overall           3.5/5.0

-Wendy

Technorati Tags: Onyx, Epic, Asia, Onyx condo, Epic condo, Asia condo, International district conversion, First Hill conversion, Capitol Hill conversion, Athena condo, Capitol Hills condos, Queen Anne condos, International District condos