Pioneer Square condos Feed

Gridiron's Income Restricted Condo Prices Released

GridironGridiron Condominiums, the project constructed next to Century Link stadium in Pioneer Square, is rare in that it is offering 12 income restricted condo units for sale. Through a special arrangement with King County, these 12 homes will be available at a restricted price for modest-income households.

Details:

  • 12 income restricted units (1 is sold)
  • Prices range from $350,890 to $400,882
  • Studios and one bedrooms throughout the building
  • Sized from low 400 square feet to mid 500 square feet, with one over 600 square feet
  • Available to households earning less than 115% of area median income - individuals whose income doesn't exceed $86,000 and families making less than $98,440 qualify

This is a great opportunity to purchase a new construction condominium home if we meet the qualifications.

For those who do not meet the income restriction requirements, Daniels Real Estate (the Developer) and HomeStreet Bank (the preferred lender) are also offering a special financing offer on the 36 market-rate condo units that have not yet sold. The program allows for a 3.5 percent down payment option and mortgages starting at 2.5 percent, second year mortgages at 3.5 percent and then third year through remaining term at just 4.5 percent interest rates. In order to qualify for this special rate, a buyer has to live at Gridiron and they have to be in a contract to purchase by November 30th and closed by the end of the year.

By Marco Kronen with Seattle Condo Review: A guide to Seattle downtown condos.

 


Gridiron Condominiums Update - Remaining Units & Our Thoughts

Gridiron, the new construction condominium in Pioneer Square, has received it's certificate of occupancy and has started closing homes. Now that the building is mostly complete, we were able to walk through, tour the building and amenities, learn about the remaining available units and enjoy the actual views and finishes in person.

We summarized the basics and also added in some additional information along with our opinions. Additional photos are also below.

20180308_134000THE BASICS:

  • 27 condo units left available
    • 7 are 2 bedrooms and the rest are open one or one bedroom homes
  • Remaining open 1 bedrooms
    • 620 to 819 square feet
    • Priced from $606,900 to $786,900
    • HOA dues from $447 to $591
  • Remaining 1 bedrooms
    • 771 to 855 square feet
    • Priced from $721,900 to $811,900
    • HOA dues from $557 to $616
  • Remaining 2 bedrooms
    • 983 to 1,034 square feet
    • Prices from $881,900 to $1,056,900
    • HOA dues from $708 to $745
  • Parking: NOT included with any home; one space is available for purchase for an additional $50,000 for homes priced above $671,900
  • Storage: No storage units are remaining
  • HOA dues: calculated at around $.70/sqft; include garbage, gas, earthquake insurance, concierge and building maintenance
  • Amenities: rooftop deck with BBQs and seating areas, party room with kitchen, wine storage lockers, gym, dog run, concierge

Continue reading "Gridiron Condominiums Update - Remaining Units & Our Thoughts" »


Our New and Improved Seattle Condominium Building Map

Seattle Condo Map (2)Since our blog's inception back in 2006, our Seattle Condo Map has been a place where our readers could go to find information about the various buildings in and around the Downtown Seattle core.

We decided that it was time to revamp SCR's Seattle Condo Map, expanding it to include all buildings in Seattle, to include more detailed information about each building and to create it in a format that allows our readers to search it for information important to them that might not be readily available either online, or within other real estate sites that rely only on information from the MLS.

We are very proud to announce that our new and improved Seattle Condo Map has launched!!!

Our new map contains information about all condominium buildings in the city of Seattle! It is a constant work in progress as condo buildings go through updates, condo buildings become apartment buildings, apartment buildings become condo buildings, new condominium buildings are proposed and new construction buildings are completed. The information contained in our Seattle Condo Map will continue to be updated so please make sure you check back in with the map often. We intend to add links to our Condo Review articles to each building as we review them so our write ups with pros, cons and stats about the building will be available via one click from the map listings. This is something we are actively working on and think will be an amazing resource tool for those looking to buy or sell their condo. 

A couple things to know about our new map:

  • There is a directory of buildings that is organized by area - Downtown Area, Northeast Seattle, Northwest Seattle, Queen Anne & Magnolia, South Seattle, Central Seattle and West Seattle
  • The buildings are also color coded to denote the following categories - luxury, proposed, under construction, historic or co-op
  • You can search the map if you open it up - for example, you can search 'concierge' and see all of the buildings in Seattle with concierge services

Since this map will forever be dynamic, we encourage you, as our readers, to let us know if any buildings are missing or if any of our information is incorrect. We want to do our best to provide the most accurate information we can and we need you all to make that happen!

We hope you find the map interesting and helpful and we hope it is a tool you will bookmark and enjoy using for many years.

Check the map out here! Or from the navigation bar on our website.

Cheers-
Marco and Loren Kronen


Koda Condominiums Coming to the International District

RenderingKoda Condominium Flats are coming to the Japantown or “Nihonmachi” section of the International District!

Here are some details about Koda:

  • 18 story building
  • 200+ units
  • Studios to 2 bedrooms
  • 77 parking spaces
  • Prices starting in the low $300,000s up to $1M
  • Located on the northwest corner of 5th Avenue South and South Main Street (currently a parking lot)
  • Breaking ground early 2018
  • Completion in 2020
  • The team at Koda are calling the project "efficiently scaled and attractively priced" market rate condos
  • Developed by Taiwanese company Da-Li Development
  • Architect is KMD Architects of Seattle
  • Represented by Realogics Sotheby's International Realty

Rendering from KMD Architects

By Marco Kronen with Seattle Condo Review: A guide to Seattle downtown condos.


Gridiron Update

After a recent tour of the sales center we have some updated information on the Gridiron Condominium project to share.

20170620_103135THE BASICS:

  • Urban One Bedrooms
    • 505 to 818 sf
    • Priced from $501,900 to $781,900
    • HOA dues from $353 to $572
  • One Bedrooms
    • 570 to 1,052 sf
    • Priced from $569,900 to $841,900
    • HOA dues from $398 to $617
  • Two Bedrooms
    • 915 to ,052 sf
    • Priced from $781,900 to $1,051,900
    • HOA dues from $644 to $991
  • Only units on levels 5 and 6 have outdoor space
  • Parking is not included, one space available for purchase with most homes for an additional $50,000
    • Electric car charging conduit run to 14 parking spaces (will be billed desperately)
  • 58 total storage units to be owned by HOA and rented out
  • HOA dues cover: hot water, garbage, gas (including cooktops), and earthquake insurance
  • Amenities: concierge, rooftop deck with BBQs and fireplace, party room with kitchen, gym, dog run, facility manager, wine lockers available
  • Units have central heat and central air
  • There is main floor retail

SALES:

  • Gridiron is 60% sold
  • Going straight to Purchase and Sale Contracts
  • 5% Earnest Money deposit
  • Completion mid-October 2017 with closings from mid-October through November
  • No hard hat tours being scheduled yet
  • At the pace they are selling, we are thinking that we can likely expect see periodic price increases

 By Marco Kronen with Seattle Condo Review: A guide to Seattle downtown condos.


Sales Update on New Construction & Pre-sale Condos

Here is a quick update on how sales are going at our new construction condo buildings around town.

Updated Sales in New Construction Condos

There are still many opportunities to snag a unit at Luma and move in this summer. Insignia is getting more and more limited and has no 1 bedrooms left and only 2 units available under $800,000. At Vik, with only 4 condos left, you have very little to choose from but there are 1 and 2 bedroom units among the 4 left. For the condos that are taking reservations still, Gridiron and Hendon, you have both options and time on those. However, at Hendon (formally Hyde) the top floor units with views and large deck/patio spaces are all reserved already, as we suspected.

By Marco Kronen with Seattle Condo Review: A guide to Seattle downtown condos.


Update: Seattle New Construction Condo Comparison

Back in April, we created a chart comparing the new construction condo options here in the city so you could see what options were out there for newly built condos. Many things have changed since then, including Solo Lofts and Salt turning into apartments and the addition of two new buildings, Hendon in Phinney Ridge and Gridiron in Pioneer Square. We have updated the chart and wanted to share that with our readers.

Hopefully this updated chart helps you to compare the options for pre-sale and new construction condos in terms of the price points, amenities as well and some pros and cons of each project as well. Other projects are in the works, but these are the buildings that have officially announced sales and gone public with the details about their projects.

Just like in the previous version of the comparison chart, information will change as the condo projects progress but here is a snippet of the current overview. To see the whole chart, download it here: Download Seattle New Construction Condo Compare.

Snippet of Condo Compare
We hope this helps you narrow down your top options. As always, our team is here to help with your buying decision if needed.

This information is offered as a convenience & is not a warranty or guarantee. All information should be verified to your satisfaction.

By Marco Kronen with Seattle Condo Review: A guide to Seattle downtown condos.


Gridiron Condo’s First Week Update – The $800 +/sqft Prices are still the Talk of the Town

2This week I popped by the new sales center to talk with the Sales team to see how things are going.

Well, despite last week’s shocking public reaction to Gridiron’s lofty prices for their lofty units, they have already reserved over half of the 26 units that were released as part of their phase one.  With pre-sale prices that seem to hover at around an average of $831/sqft based on the those listings posted on the MLS for Gridiron, the days of getting a good deal when you buy early seem to be gone.

Earlier last week the developer released about 25% of the 107 units to the public with pricing for an opportunity to reserve a unit.   The reservation period, along with buyer’s $10,000 refundable reservation deposit, is in effect until the purchase and sale agreement and additional specifics such as the amount of HOA dues are worked out by the developer.  Then buyers with reservations will have a couple of weeks to review the new purchase and sale agreements, along with the required disclosures before making a final decision to move forward with a purchase.

Continue reading "Gridiron Condo’s First Week Update – The $800 +/sqft Prices are still the Talk of the Town" »


Gridiron Condos Starting Reservations for Presales this Week!

Gridiron Photobooth2We attended the Gridiron Condos opening party last night and were able to see their new sales center, the scale model of the new building and hear some updates on the project from the Daniels development team as well as the Sales Manager.

Here is what we learned:

  • Studio, urban (open) 1 bedrooms, 1 and 2 bedrooms, loft units
  • Studios: 12 studios from 430-500sf
  • Urban 1 bedrooms: 39 urban 1 bds (which are open 1 bds) from 471-779sf
  • 1 bedrooms: 38 1 bds from 547-829sf
  • 2 bedrooms: 16 2 bds from 877-1373sf
  • Lofts: 2 full height loft units on the 3rd/4th floor from 1302-1645sf (the only units in the historic Seattle Plumbing Building) - these will be cool!
  • Amenities: rooftop deck, roof-top level party room, gym, bike storage
  • 107 units
  • 11 stories
  • 88 parking stalls - this means some units will not have the option to purchase a stall
  • Two color palettes available (pre-selected) and no unit customization will be offered
  • Estimated completion: Mid-2017
  • 1st and 2nd floor will be retail
  • 3rd and 4th floors are mainly parking though there will be two 2-story loft units on these floors as well
  • 5th and 6th floor units will have balconies or decks
  • Sound proofing was a high priority - they have the highest level of residential soundproofing available according to the sales team
  • Finishes/Features: hard surface flooring throughout, 10ft ceilings in most units with the 2 story lofts being 16’ ceilings, quartz counters, gas cooking, in-unit washer/dryer
  • Sales: the building will be offered in phases with the first phase hitting the market before the weekend and this is when prices will be released; the units will go into reservation first, then convert to purchase and sale agreements once the developer has the purchase agreements finalized

Continue reading "Gridiron Condos Starting Reservations for Presales this Week!" »


New Condominium Project Announced- Gridiron Condos Coming to Pioneer Square

Gridiron
According to a recent article in the PSBJ, it looks like our city’s 6th new construction condo project since the recession will be breaking ground soon.  Gridiron Condos will be built by developer Daniels Real Estate on a site adjacent to CenturyLink Field on 1st Ave.  This is the same site that has been in the works for a few years and was previously going to be called Stadium Lofts.  It will be 107 new units built atop the current brick building and will have restaurant and bar space on the main and mezzanine levels.

Gridiron will be the 6th post-recession condo project to break ground here in our city, assuming they move forward with the plans to start site work in about two weeks.

With the velocity of pre-sales in the some of Seattle’s recent condo projects that have started pre-sales, including Insignia (Downtown), Vik and Solo Lofts (Ballard), and most recently Luma (First Hill), I would expect the demand to also be high for condos in Pioneer Square. There have not been new condo options for buyers to choose from in Pioneer Square in over 8 years.  The last two being condo conversions at The Nord and Jackson Square, both located just a few city blocks to the north of the Gridiron site.

I do not yet know the specifics on unit pricing or floor plans, but will reach out to the developer and see what information is available and will report as I learn more.

By Marco Kronen with Seattle Condo Review: A guide to Seattle downtown condos.