Seattle Condos | Seattle Condos for Sale | Reviews by Marco & Wendy

Our New and Improved Seattle Condominium Building Map

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

International District Development Could Include Condos

A major redevelopment is taking place in the Little Saigon section of the International District. The 2.5 acre property being redeveloped is located at S Jackson St and 12th Ave S and currently houses businesses such as the Viet-Wah Supermarket and the very popular restaurant, the Tamarind Tree, but will soon be an eight story mixed use development.

According to the article put out by PSBJ today, the new building will be built in two phases and will include a community theater, daycare center, retail space for shops and restaurants, 240 apartments (some of which will be low income housing), 35 condos and a 180 room hotel.

This mix of apartments, condos and hotel space in one building has never been built in Seattle but it seems that it is becoming more common to see when projects are being announced over the last few years. However, we are skeptical that the properties will contain the condominium units in the end as, historically, the mix has been a huge barrier to buyer's being able to get conventional lending in a project.

They plan to start construction in late 2017 or early 2018 so we will have awhile to wait to see how it all shakes out.

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

Hewitt Rendering

 

Perks of Living in a Condo Above a Hotel

There are only a few condominium buildings in Seattle that are above or part of a hotel. And though they are few, they do have some perks we thought our readers might want to know about if considering buying a condo.

The condo buildings that fit in this category are 2200 Westlake, Olive 8 (pictured to the right), Madison Tower and Four Seasons Residences.

In general the bonuses to living in a building that is combined with a hotel are:

• Spa services are only an elevator ride away
• Room service
• Housekeeping
• Gym
• Business center
• Valet to call you a cab
• Restaurant dining and a bar right in your building
• Discounted hotel stays for you or your guests
• Discounts at the spa, restaurant and bar (at certain buildings only)
• Often times the quality and amount of amenities available to condo owners above a hotel, in general, are bit more comprehensive than most condo buildings because the expenses are supplemented by the hotel so the condo owners benefit from those higher caliber of shared amenities
• The hotel staff are masters at hospitality, so it’s a great feeling to know that you and your family, as well as your guests are take care of

Two 50 Story Buildings on 5th Ave - Escala View Obstruction Advisory

In an earlier article we wrote back in November, we announced that a new 50 story mixed-use building was being planned for the northwest corner of 5th Ave and Stewart (just west of the Westin). It will contain hotel rooms, apartments, and condominium units, a mix we have yet to see here in Seattle. This building now has a name, Altitude Sky Tower.

Now we have learned, from PSBJ, of another 50 story tower that may be constructed on that same block, but on the southwest corner of 5th Ave and Virginia. Douglaston Development is the company looking into building the hotel and residential tower where the Icon Grill currently sits. The article mentions that some units will be apartments so we are unclear on whether or not there will be condos in the mix as of yet.

In 2007 and 2008, this site was originally planned for the condominium project, Heron and Pagoda Towers. In this case, Altitude Sky Tower will sit where Heron was to be and this potential new building will sit on the lot where Pagoda Tower was to be. The Heron and Pagoda project was also slated to be hotel/office/residential mixed-use and top out at 46 stories so even though the lots are now owned by different entities and will not be connected by a middle pedestal like Heron and Pagoda were to be, the plans remain similar for type and height of buildings.

View Obstruction Advisory: As for Escala, if this new building does indeed get built, the east facing units will lose much of their outlook of the city over Icon Grill. The southeast facing unit outlooks will also be impacted by Altitude Sky Tower most likely.

Former 1 Hotel & Residences Condo Project Will be Luxury Apartments

According to the Puget Sound Business Journal, Equity Residential will be constructing a 40 story luxury apartment tower at 2nd Ave and Pine St, just west of the Macy's garage.

Some of you may remember this site location. In 2007 it was slated to be 1 Hotel & Residences. And at that time this project was quite unique. It was going to be a boutique hotel with condos above. However, it was also going to be the first of its kind in our market to offer homeowners fully furnished units with the ability to participate in a rental  program managed by the hotel.  That was only going to be available on certain floors while the rest of the units would be your traditional condos. This is what is known as a true "condotel". The site location was excavated but later filled back in and the project halted due to the recession. Since the project was put on hold, it has changed hands several times. 

Daola Seattle Will be Condos & a Hotel Located at Stewart and Minor

What was once known, in 2007, as the Stewart and Minor condo project, is now Daola Seattle. Current plans dictate that it will be a 42 story hotel and condominium tower with the hotel on the lower floors, the condos above and a restaurant, bar and spa in the building. Early reports are saying there will be 78 hotel rooms on floors 3 through 7 and then 95 condos above.

Daola, which means “you have arrived”, will be an independent hotel and will be the first in the US though they have several locations in China, where the owner, RBF Property Group, is headquartered.

The plan is to begin construction sometime in the 1^st or 2^nd quarter of 2015.



Photo courtesy of skb Architects

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

Potential Downtown Seattle Hotel-Condo Project at Stewart and Minor

According to a recent article in the Puget Sound Business Journal, the project previously known as Stewart & Minor, a hotel-condo building, might be resurrected.

In 2007, the Stewart & Minor hotel/condo tower was planned as a 150 room hotel with 14 stories of condos above.  They were planning on having 150 cube-shaped units that would be customizable in terms of adding mezzanine levels (or lofted spaces) within each unit, possible due to 16 foot ceiling heights that were potentially planned. We even participated in a focus group with the Developers back in 2007 so it is interesting to see this pop up again in the market.  (Photo of original design from 2007)

Today, the future of the development is not clear but the Developers, GIS International Group, said that they are pursuing a development on the site according to the PSBJ article. In other words we do not know what will be built on the lot but perhaps the old plan for a condo/hotel tower is still on the table.

We will keep you posted as we hear more.

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

Condo Review – Madison Tower in Downtown

Madison Tower is a condominium community perched atop Hotel 1000 in Downtown. Built in 2006, this building has modern interiors, great amenities and many of the units boast lovely water and city views.

The stats:

• 47 units
• 25 stories
• Built in 2006
• Units range from 1-3 bedrooms and have 1.5 or 3.5 bathrooms
• Range in size from 805 to 3,740 square feet
• All have 1, 2 or 3 parking spaces in the Valet  run garage
• 5 units sold in the last year ranging in price from $425,000 to $4,000,000
• 1 condo is available at the time of this article – 1 2bd 2.5ba home listed for $899,000
• Amenities: Rooftop deck with BBQ, fire pit, pet area and water views, gym, business center, priority for meeting room bookings and hotel restaurants reservations, 24 hour concierge (shared with hotel) and access to the hotel amenities (for a discounted fee) including virtual golf simulator, room service, in home catering, housekeeping, laundry and dry cleaning, in home massage, car wash and treatments at Spaahh in the hotel
• HOA dues include: water, sewer, garbage, central hot water, cable TV, earthquake insurance, 24 hour concierge, master insurance policy

2200 Condominiums in South Lake Union Settles with its Developer

After approximately two years of warranty investigation work and negotiation, the 2200 Residential Homeowner Association and the 2200 Master Association (that represents the hotel, retail and the Whole Foods) received an early holiday gift of sorts. A settlement was reached for the 2200 Association's claim for repair of construction defects. The settlement summary was discussed with owners at the annual meeting of the HOA held earlier this week. The $26 million dollar settlement represents what is rumored to be the largest construction defect settlement of its kind in the state for a residential condo building.

This settlement comes at a good time for the owners in the 2200 complex who have been somewhat limited from being able to refinance or sell condo units for some time due to the fact the resale certificates and condo questionnaires needed by lenders disclosed issues related to the construction defects and its mediation.  These can now be changed, which should open up some possibilities for sales and refinances to happen since buyers and their lender might be more confident about the long term financial health of the building and the HOA.

Early indications are that the 2200 community will start to see the work start some time in 2013 but it’s not known exactly when, nor exactly how long the work will take.  It also remains to be seen which of three condo towers will be first and if a full wrap of each building will be needed. The board indicated at the meeting they will be working hard with the project contractor to try to make the repairs as efficient as possible and with the least amount of impact on the residents and businesses within 2200 as possible. It is not yet officially known who that contractor will be.

Although none of us owners at 2200 are looking forward to the inconvenience of the repair work that follows, it is likely that the settlement amount will cover the expenses of the needed repairs and there will not be a need for additional funds from the owners through an increase in dues nor a special assessment, which is the silver lining to the whole thing and a relief for many. In fact, the new budget for 2013 reflects a decrease in dues now that the settlement has been finalized.

By Marco Kronen with Seattle Condo Review: A guide to Seattle Condos exclusively for buyers and sellers

Olive 8 Update - Including its Debut on Top Chef Seattle

You may or may not already know but the Bravo show, Top Chef, was recently filmed in Seattle for season 10, which is now airing.  The chefs compete in a number of challenges that feature local cuisine, restaurants, and events in the host city. The show also puts the chefs up in a posh residence for their stay during the competition.

Guess where the chefs stayed? Downtown Seattle’s Olive 8 Condominiums! The “cheftestants” all lived in a unit on the 38^th floor of the Olive 8 tower giving this condo a great national stage to be seen on. The program showcases Olive 8 with scenes of the chefs lounging around, using the gourmet kitchen and shows off the beautiful view as the chefs sit out on their private deck. Olive 8 was a good choice, I would say.

So what’s going on at Olive 8 in terms of condo sales you might ask? Here is the latest update on Olive 8’s Developer owned condo units:

• 90% sold
• 196 closed sales
• 9 pending sales in November
• 19 developer owned units left: 10 one bedrooms and 9 two bedrooms (all on floor 30 or above)

There are also a couple of units being sold by individual owners (resales) in the building:

• 1 active resale unit
• 2 pending resale units