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June 2009

The Enclave on Lake Union

Got this press release from the Enclave marketing team.  Seems like a neat project.  I was impressed with the square footage and pretty sweet location.  Will be interesting to see if they get some takers to commit pre-construction in exchange for the "introductory pricing."  I'd want some kind of protection against price reductions as well as pretty low earnest money to consider an early committment.

Enclave seattle

Read the full press release.

Athena Condo (Queen Anne)

The Athena condo was one of the first apartment conversion projects during the condo boom in 2005.  This 91 residential condo building is conveniently located on lower Queen Anne (323 Queen Anne Ave N).  The project was developed by Pryde Corporation, which is the same group of developers who did the conversion for Onyx and Asia Condos.

Studio, one bedroom and two bedroom units offer square footage ranging from ~400 for a studio, 485 to 759 for a one bedroom, and 880 to 952 for a two bedroom.

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The Florentine- Pioneer Square Condo


The Florentine Condominium is a historic building located on the south edge of Pioneer Square on 526 1st Ave South.  It was built in 1909 and converted from a warehouse into 116 condos in 1990. 

During the conversion, an additional floor was built on top of this four story building as the penthouse homes (2 level townhomes).  Some might like to call it a loft style home.  Floor plans go from one bedroom, one bathroom to two bedroom penthouses.

One Bedroom plus den & Two bedroom     1,036-1,644 sq ft

Penthouse Homes                                 1,253-2,106 sq ft

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Condo Updates

Elliott and Cedar

I've been working OT on a few deals so have a lot of catching up to do for the blog.  Here is some of the latest Seattle condo market news:  

First off, The Schuster Group's proposed project on the corner of Elliott and Cedar St (previously named as Bellora 2 at in 2007) is heading for Downtown Design Review Board on June 23rd.  The proposed project will housed 120 condos and may go as high as 14 stories.  The last time I spoke to the developer's office, they were waiting for the market to recover.  Construction may not start for a year or two.  So, it will be a few years before we see this project.  Read more here

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First Church Converting to Townhomes

(Pictures provided by Moira Holley, archived under Seattle Condo Gallery)

As it turns out, First Church of Christ is turning into a 12-unit townhome building.  Last week, they debuted their model home.  During today's broker's open house, I had the chance to tour the building and meet up with the developer.  Even though it is not a condo project, I thought it was still worth checking out and let's be honest, there aren't exactly a stampede of new condos being announced every week like in the good old days (and yes, I appreciate those days are part of the reason we're in a recession but they were good if you liked writing about new condos).

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