In spite of the building boom in downtown Seattle, there have been limited options for buying a home, versus renting. Somewhat resembling a giant stack of glass Rubik’s cubes, a new condominium called Nexus Seattle at 1200 Howell Street in the Denny Triangle, will rectify this for a few. The building will feature 382 units, vary in size and price, ranging from $300,000+ to $3.5 million. Because sections of the building are twisted to face different directions, owners’ views will vary, depending which floor their home is located on.
According to the Nexus website, 80% of the units have already been reserved as of November 2016. Underscoring the market’s desire for permanent housing and the influx of people for high-paying tech jobs downtown, hundreds of buyers lined up to pay the $5,000 refundable deposit to be guaranteed a spot at a priority presales event on June 4th last year. Some people even camped out overnight to be first in line.
The Burrand Group, the Canadian company that owns the site, plans to break ground this month to begin construction. The building itself will rise 41 floors, and will be within walking distance of at least two large-tech work campuses in the South Lake Union area. An article with Puget Sound Business Journal states a fitness center, common co-working space, the option of renting a guest room, and a rooftop terrace will be some of the amenities available.
As of October 2016, the median price for a downtown Seattle condo was $650,000. The median price for a 1-bedroom rental is currently $1,820 per month here, reflecting the 40% hike in rent over the past 5 years. Our city is now in the top ten of most expensive apartment markets in the United States, as of April 2016. So having the option of choosing a smaller place for the option of a smaller price (or larger space at a higher price) at the Nexus will no doubt appeal to some in our current high-demand market.
This 19th-floor condo is now available for sale in in Belltown! Enjoy beautiful east-facing views of Downtown and the Cascades, plus a partial view of Lake Union from every room in the unit and from the large deck. The open kitchen features stainless steel appliances, dark wood cabinets, gorgeous granite counter tops, and a pantry. This unit has high ceilings throughout, and the spacious living room has space for a dining table. The bedroom has two closets for added storage. This building has 24/7 security and concierge, great amenities with a large outdoor area, and air conditioning. Enjoy great views with all Belltown has to offer! Click here for more information about this unit.
Check out this great one bedroom/one bathroom condo located in Belltown. Offering a variety of stunning views from the 19th floor, you’re able to catch a gorgeous view from any room in the unit. Enjoy a beautiful east facing view of Downtown, the Cascade Mountains, and a partial outlook of Lake Union from your large deck. With high ceiling throughout the unit allows for a spacious free flowing setting. The open kitchen has stainless steel appliances, dark wood cabinets, gorgeous granite counter tops and a pantry. A spacious living room allows for a complementary dining space perfect for entertaining. The bedroom has two closets for added storage. With twenty-four hour security and concierge you’ll feel safe sitting in the laps of luxury. The build offers great amenities such as an indoor-pool, hot tub, sauna, exercise room, a club house and a large outdoor area. Condo is air-conditioned. No rental cap.
The new owners of this Belltown condo will have the pleasure of watching ferries come and go on the waterfront, the Great Wheel spinning, and of course every spectacular sunset over the Puget Sound and Olympic Mountains. Sold for $1,100,000, this condo is in a prime downtown location and was remodeled to take advantage of the stunning 180-degree views.
This two-bedroom, two-bath unit features hardwood floors throughout; a sharp kitchen with granite-slab counter tops, stainless steel appliances and custom cabinets; a luxurious master suite with a walk-in closet and a view even from the bathtub; and resort-style amenities. A covered view terrace is the icing on the cake.
Just as the McGuire Apartments are headed to demolition, a new apartment project is proposed for Belltown. The 17-2tory apartment building, to be called “Alto”, will be located on 3rd and Cedar. The expected 184-unit building ‘s construction will be the first of multiple proposals in Central Seattle in the last three years to start. The building will also have 2,700 sf of retail space. The developer, Harbor Properties (who is well known for Downtown’s Harbor Steps project) bought the land in March of last year, but decided not to build until the financial market had improved.
The high demand for rentals in Seattle, especially among the younger populations in Belltown, has increased substantially in the past few years. As many of the projects in Belltown are condos, it is a nice change of pace to see some new apartment buildings. This will be the newest among a number of other buildings including 2300 Elliot, The Avalon, and Archstone Apartments, to name a few. The apartments will be aimed at middle-income renters as well, which is a plus for the younger population.
Looks like Belltown real estate is back on the rise, as we expect the residential project from Goodman Real Estate (located on Western) to start in the near future as well.