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One of the relaxed working spaces within the rotunda/ commons at Madison Centre.  Image: madisoncentre.com

Madison Centre, a 36-floor office + retail building with numerous features has opened at the southeast corner of Madison Street and 5th Avenue. Plans for this building were sidelined for 10 years during the economic downturn, but recently Schnitzer West, the real estate developers for this property decided to move ahead. They received comprehensive focus group feedback before proceeding to create a building striving to serve their tenants’ varying needs for collaboration, connectivity, and privacy, with relaxed amenities. The end goal was to increase everyone’s productivity and efficiency.  In essence, a “next-generation workplace”.  It’s LEED-certified and has an excellent walking score of 98, being centrally-located in the downtown Seattle core, near the downtown Central Library.

A suspended spiral staircase leads up to this 3-story high rotunda and commons area at Madison Centre. Image: NBBJ architects

FEATURES OF THE MADISON CENTRE:

  • Every floor has floor-to-ceiling windows, including the 3-story rotunda and commons area via a spiral, suspended staircase, accessed from the street
  • In the Gathering Place/Rotunda (i.e. Lobby)
    – Fireplace and its towering pillar, from a stone quarry in Minnesota
    – A suspended spiral staircase that leads up to 3-story glass rotunda area and commons
    – Exposed wood slats in rotunda, adjustable for natural light
    – A 5,000-plant Green Wall to improve air quality, reduce noise, and ease stress
    – Extremely fast elevators (from ground floor to roof in about 24 seconds
    – Premier coffee shop on NW corner of rotunda
    – 5-star concierge service
  • Rooms & Work Spaces
    – Site-Wide Connectivity:  Wi-Fi is everywhere, so tenants can work anywhere in the building.
    – Fireside Lounge
    – Common work spaces (both individual and team) and lounge areas off lobby
    – Cafeteria for tenants
    – Library
    – Private quieter rooms available for reservation
    – Multiple, shared conference areas: boardroom (elegantly furnished, fully equipped), other spaces with adjustable space
    – WA Athletic Club-run fitness center (5,000 SF) for tenants
    – Wellness Center (for health services, such as flu shots, etc.)
    – Conference Center with adjoining catering kitchen (12 to 130 people)
    – Able to control energy usage, lighting levels and temperature from anywhere
  • Other Spaces
    – a 480-stall Garage and Bike Storage with abundant security cameras. There is also showers and a locker room for those who pedal to work.
    – Rooftop deck with 15-foot glass walls to minimize wind. Lounging areas and green space are part of this deck.

Madison Centre is currently at 30% capacity, having newly opened last week, and tours are available.

Madison Centre’s rooftop deck.   Image: madisoncentre.com

 

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.

Okay Belltowners, we all know we live in the BEST neighborhood in Seattle, right? Well, now’s our chance to make it known across the city!

The 2016 Curbed Cup is up for grabs and we’ve made it pretty darn far already.

Currently we are in the Final Four, and poised to make it to the final round of voting! But, we only have today, December 28th 2016, to make it to the final round.

The Final Four sees Green Lake facing off with Ballard for a shot at the final, and our lovely Belltown is going head to head with Columbia City for the other spot in the final. Voting ends tonight at midnight, so vote, vote, VOTE until the clock strikes 12!!

If we make it to the final round, we will have 5 (yes, F-I-V-E) days to vote for Belltown to take the title over either Ballard or Green Lake. That is, THE title, the whole shebang, The Curbed Cup.

Head over to Curbed Seattle to cast your vote (or click here and skip the extra typing) for our ‘hood before midnight tonight for it to count.

And don’t just stop there, share the link with your friends! Text, them, email them, bribe them into casting their vote, whatever you have to do, get others to join so we can come out on top!

The title is within our grasp, so close we can taste it, let’s not let it slip away! We all know Belltown is where it’s at, but now it’s time for all of Seattle to know!

 

 

belltownReal Estate in Belltown/Downtown is continuing to show growth month by month. The numbers also show us that summer has been a busy buyer’s market. The number of sales as increased slowly up throughout spring into summer. Between March and May, the number of sales climbed in small increments March 38, April 44, May 53. At the end of June, we saw 164 residences sold with 93 left pending. The astronomic increase was due mainly to pre-sales for the Insignia building, but still shows the demand for condos continues to grow.

The general downtown area only saw 10 more sales this July than July of 2015, but the average prices increased. The lowest average price has gone up by $12,500, the median price increased by $169,450, and the highest jumped $1,520,000.  There are currently 63 active listings and 101 pending. We will have to see what this crazy neighborhood market has in store for us next month!

seattlesunsetIt looks as though Seattle’s high hopes are dashed, for now at least. The Federal Aviation Administration has sent a “notice of presumed hazard” to developer Crescent Heights Inspirational Living in regards to a proposed development on Fourth Avenue and Columbia Street in Downtown Seattle.

The Miami based developer has planned to construct what would be the West Coast’s tallest building, at 102 stories and 1,117 feet above ground level.  The notice from the FAA states that “Initial findings of this study indicate that the structure as described exceeds obstruction standards and/or would have an adverse physical or electromagnetic interference effect upon navigable air space or air navigation facilities,” causing the tower to interfere with Boeing Field operations and potentially helicopter flights in and out of Harbor View Medical Center.

The FAA has given the developers the choice of lowering the height of the building to a maximum height of just 965 feet, or abandoning the project altogether. The lowered maximum height would put the project, currently called 4/C, at two feet shorter than the city’s current tallest building, The Columbia Center.

FAA Spokesman Allen Kenitzer has said that discussions between the FAA and Crescent Heights are ongoing and “probably will be for some time”, while officials from Crescent Heights have declined comment.  For now, it seems, a start date for construction remains unclear, as the developer awaits an OK on the design of the building from the city in order to proceed with further permit applications. Crescent Heights had initially noted that they would like to begin the project in 2017.

Seattle based architecture firm LMN has been designing 4/C ,which, if all goes according to the current plan would have 1,200 apartments, 150,000 square feet of office space, a 150-room hotel and retail and restaurant space.