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Eleven Eleven East Pike – 1111 E. Pike St., Seattle, WA 98122

1111 E Pike CondosA select group of real estate professionals have been invited to attend an event which will unveil plans for 27 new residential homes designed by Tom Kundig. Principal at Olson Sundberg Kundig Allen Architects (architects for the Pike & Virginia Building), Mr Kundig’s laundry list of credentials include:

  • Recipient of a 2007 Academy Award in Architecture from the American Academy of Arts & Letters.
  • Princeton Architectural Press released Tom Kundig: Houses in 2006.
  • Finalist for the 2005 National Design Award for Architecture, sponsored by the Smithsonian’s Cooper-Hewitt National Design Museum.
  • Recipient of a MacDowell Colony Fellowship.
  • One of eight North American Emerging Architects by the Architectural League of New York and was elected to the College of Fellows by the American Institute of Architects (AIA) in 2004.
  • Awarded a total of twenty-three AIA awards, including four recent National AIA awards (for The Brain, Chicken Point Cabin, Delta Shelter and Tye River Cabin).
  • Eleven Eleven InteriorPublished in over 250 publications and exhibits featured in many locations worldwide.

This is Tom Kundig’s first condominium project and their public relations company has boasted that although these would “normally have a hefty price tag,” Eleven Eleven East Pike will be a “rare opportunity(ies) for high design at a more affordable price.”  You can view more renderings and project description on the OSKA website.

Here are some award-winning buildings by Kundig:

[youtube=http://www.youtube.com/watch?v=P9VLvmY7dk4]

What’s Your Walk Score

March 11, 2008 by  
Filed under ALL CONDOS

walkscore sampleWhile surfing the Internet, I found this fun new link that scores an address based on how convenient it is to walk to nearby stores, restaurants, parks, etc..  WalkScore.com uses a patented algorithm that characterizes walkable communities by density, housing types, public spaces, overall accessibility and well connected streets.  However, there’s no real need to use this for Seattle’s downtown condo addresses.  Nearly every address got a score of over 90 with the exception of a few buildings down by the waterfront.  Also, it came to no surprise that Olive 8 scored 100, but I was surprised to see the Cosmopolitan score a 98.  Here are some other scores I tried just out of curiousity:

  • 98 Union = 98
  • Bellora = 88
  • Concord Condominiums = 92
  • Cosmopolitan = 98
  • Ellington = 89
  • Four Seasons = 98
  • Harbor Heights = 92
  • Lumen = 94
  • Madison Tower = 95
  • Matae = 89
  • Olive 8 = 100
  • Parc = 88
  • Seattle Heights = 92

Results show icons that identify what type of business is located within walking distance in addition to contact information and reviews.  What Walk Score does not do is score an address on topography, public transportation, street/sidewalk width, weather, and/or safety.  Regardless, this is a great new site for getting to know an addresses neighborhood and was awarded for being one of the Top 10 Websites by Planetizen Urban Planning, Design and Development Network.

Watermark Tower – 1107 1st Avenue, Seattle, WA 98101

watermark tower

Address: 1107 1st Ave., Seattle, WA 98101
Neighborhood: Downtown

CONDOS FOR SALE

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DESCRIPTION

Designed by Bumgardner Architecture, the Watermark Tower is located on 1st Avenue with SAM, Pike Place Market, Benaroya Hall, fine restaurants and shopping right outside the front door. The first five floors are offices with the residential units on the upper floors. This ensures that most units in this luxury building command some of Seattle’s best sound views and home feature oversized decks to enjoy them. Residential units tend to be larger than most other buildings downtown with floor plans ideal for entertaining. Amenities include an exercise facility, party room with kitchen, rooftop deck, secured entrance and parking, resident manager and tennis court. The building was built by Sellen Construction, landscape architecture was by The Berger Partnership and engineering by Putnam, Collins, and Scott.

BUILDING DATA

  • Year Built: 1983
  • Number of Units: 95
  • Number of Stories: 22
  • Exterior: Cement/Concrete
  • Parking: Common Garage
  • Pets: Subj to Restrictions
  • H/O Dues Included: Cable TV, Earthquake Ins., Garbage, Water/Sewer
  • Common Property Features & Amenities: Athletic Court, Cable TV, Disabled Access, Elevator, Exercise Room, Fire Sprinklers, Game/Rec Room, Lobby Entrance, Sauna, Security Gate

NEIGHBORHOOD BUSINESS

  • Cicada
  • Diane’s Market Kitchen
  • Isis on First
  • John’s Wok on Western
  • KidsCentre
  • Las Margaritas
  • McCormick & Schmick’s
  • Nijo Sushi Bar & Grill
  • North Face
  • Nubia’s
  • Online Coffee Co.
  • Pike Place Market
  • Post Alley Pizza
  • Riveted a jeans store
  • Seattle Art Museum

VIEW NEIGHBORHOOD MAP

ADDITIONAL OPINIONS & REVIEWS

nwsource biz journals emporis stroupe blog entries

*Data is deemed to be reliable, but not guaranteed. In some cases, number of units may include commercial and residential spaces and/or height may or may not include a 13th floor.

Increased Loan Limits

March 7, 2008 by  
Filed under ALL CONDOS

FHA has published their increased loan limits effective 3/5/08. King, Pierce and Snohomish Counties have increased to $567,500, and San Juan County to $593,750. Jefferson, Kitsap and Skamania counties all saw significant increases. Please visit https://entp.hud.gov/idapp/html/hicostlook.cfm to view all the changes.

Condo King County Weekly Sales Ratios for Mar. 3rd, 2008

Condo Only, NWMLS Area 701 (Belltown & Downtown Seattle)

3-3-08
weekly statistcs, 3-3-08, odds

Comprehensive Plan Amendments Meeting for 2008

March 7, 2008 by  
Filed under ALL CONDOS

The Seattle City Council’s Planning, Land Use, and Neighborhoods Committee (PLUNC) will hold a public hearing to decide which proposed Comprehensive Plan amendments should be considered in the 2008 annual Comprehensive Plan amendment process.

Amendments of interest may include:

View all

The public hearing will be on Monday, March 31, 2008 at 5:00 p.m. in the Council’s Chamber, 2nd floor, Seattle City Hall, 600 Fourth Avenue. The entrances to City Hall are located on the west side of Fifth Avenue, and the east side of Fourth Avenue, between James and Cherry Streets. For those who wish to testify, a sign-up sheet will be available outside the Council Chamber one-half hour before the public hearing.

1 Hotel & Residences Reduces Number of Investment Opportunities

March 5, 2008 by  
Filed under ALL CONDOS

1 Hotel and Residences LogoOnly a small fraction of 1 Hotel & Residences have sold, and the project has been delayed again.  However, even though the Seattle market hasn’t expressed acceptance of the hotel/condo concept as hoped, the developer still remains positive the project will be built with some consideration that 100% of the retail space has already been filled.  The major problem doesn’t appear to be lack of interest in owning a hotel room, but the nationwide credit crunch condo-hotel projects are seeing from lenders.  Therefore, plans are being redesigned to be more appealing to lenders.

If you have been considering 1 Hotel & Residence as an investment, we’re not sure all this hype is reason enough to look away from it. But, here are a few pros or cons to help differentiate between owning a hotel/condo versus owning a condo as a 2nd home.

  1. Revenue – This is one of the biggest reasons someone considers such a project.  The majority of hotel/condo projects are more established in areas like Florida and Las Vegas and anyone considering the purchase should research tourism trends.
  2. Pre-furnished – Most all successful businesses have some consistency in service and appearance.  As a business, hotel/condo projects will rarely allow you to change anything about the room including fixtures, paint color or even blinds.
  3. Convenient Space – A common trait among hotel/condo projects is that they generally offer a superior location than a traditional condo and are generally larger than nearby hotels.
  4. Check-In – Unlike owning a condo as a 2nd home, hotel/condo projects require a notice in advance that you’ll be staying in your room (in some cases up to 60 days in advance).
  5. It’s a Business – But you generally don’t have the responsibility other than the equivalent of paying an HOA-type fee.  In addition to having management and staffing to service the guests and property, hotels are generally experienced in marketing.
  6. You Just Don’t Know – …what the return will be.  The U.S. Securities and Exchange Commission prohibits hotels and real estate firms from making any predictions.  Therefore you’ll need to know what types of property has the highest probability in appreciating.
  7. Consistency – Tourism is generally seasonal. Despite a large increase in overall tourism to Seattle, there’s not nearly as many potential visitors in the Winter as there is in the Summer.  Also, keep in mind that rates can and will change.

If you have any questions regarding this type of investment, but sure to contact an experienced expert before making making any decisions.

Open House Sun, Mar. 2nd 1:00 pm – 4:00 pm

March 1, 2008 by  
Filed under Grandview

1 Bedroom 1.5 Bath $2,000,000


Grandview Exterior Price: $2,000,000
MLS#: 28030119
Bedrooms: 1
Bathrooms: 1.5
Square Feet: 2,815

SLIDESHOW/PICS

Perched high above Seattle, enjoy spectacular views from Elliott Bay to Lake Union. Designed by renowned architect Jim Olson. Graceful spaces with exposed concrete floors & ceilings; art window shelves; gourmet kitchen with rolled steel countertops & top of the line appliances; stunning master suite with corner views featuring a dramatic walk-in glass encased shower/statuesque tub retreat with fixtures by Philippe Stark & an oversized WIC. Secured proven building with 2-car parking and storage.

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