The owner of Seattle's history Smith Tower, Walton Street Capital, has scaled back its condo conversion plans. Initially, Walton Street planned to convert the entire building, once the tallest on the West Coast, to condominiums which would have resulted in approximately 150 units. However, no doubt swayed by the softening of Seattle's condominium market, they've scaled back plans to only convert the top 12 floors. The narrower upper floors will incorporate a single unit per floor, about 2,000 square feet each. No word yet on time frame or pricing
Prior posts: Smith Tower & Smith Tower Update
Downtown Seattle’s 2nd Avenue has been receiving quite a bit of attention lately with several condominium, apartment and office towers under construction or planned. The most notable of these include the 1521 Condominium, 1 Hotel & Residences, 2nd & Pike (hotel & condo) and the Liberty Building (office & apartment) developments.
Now, add three more potential projects to the list. On the horizon are 1915 2nd, 1931 2nd and 2015 2nd.
This is a great step forward, replacing Seattle's more seedier elements with new office and housing developments.
For more information on the 1931 2nd & 2015 2nd projects, an early design guidance meeting has been scheduled at Seattle City Hall on October 9th in room L280. The 1931 2nd project is scheduled at 5:30 PM and the 2015 2nd project is slotted for 7:00 PM.
Other new condominium & apartment projects in close vicinity include:
The downtown Seattle condo market (downtown, Belltown & Denny Triangle districts) remained stable in June. Compared to June 2006, unit sales increased 10.5% and the median price rose 9.2% to $439,500, dipping into single-digit territory.
However, downtown, like the region as a whole, is starting to show signs of a softening condo market. Compared to the prior month, median price only rose 2.8% and closed sales decreased 8.7%. With the explosion of new condominium development and increased conversions & iflipper re-sales, the downtown market will become more attractive as it transitions to a buyer's market.
Though the Seattle Animal Shelter is a city-run facility, the funds for necessary veterinarian care for homeless and uncared for pets brought to the shelter are provided through Help The Animal Fund. Supported by donations, Help The Animal Fund holds fundraising events throughout the year from bake sales to the Furry 5K Run at Seward Park.
A unique opportunity has become available through the Cash for Critters program. Cash for Critters takes in empty ink jet & laser cartridges and digital phones, and in turn, provides cash for non-profit animal organizations. The good folks at Metro Dog will be facilitating the program on behalf of the Seattle Animal Shelter. Please see the Cash for Critters website for acceptable cartridges and drop them off at Metro Dog.
Photo: Shamrock is an Alaskan Malamute Sherpard mix. She came to the shelter with her mother, Sunshine, and are very attached to each other.
Developers and visionaries are out to change the landscape and forever change Seattle's place as a big city. Around downtown 49 new condominium and loft projects have been proposed adding upwards of 10,000 new housing units to the urban core.
View a map of Seattle's skyline in the year 2010. With recent rezoning allowing for higher density and taller buildings combined with a healthy business environment what will continue to grow, developers are creating new urban centers in the Midtown and South Lake Union districts.
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Located in the Belltown district of Downtown Seattle, Ben specializes in urban real estate. Ben's the author of the Seattle Condo Blog and is your expert source for Seattle's condos & lofts.
Ben's goal is to simplify your home buying and selling experience by providing unparalled service, responsive communications and expert knowledge of the Seattle urban real estate market while maintaing uncompromising principles.
To simply the process, Ben developed his Seattle Real Estate website to provide in-depth information that includes buying and selling tips/articles, demographic information, area market updates, community resources and appreciation rates. Ben primarily real estate niche urban real estate and create a consumer-focused site called The Seattle Condo Blog. Additionally, Ben also started a blog called Seattle Housing Buzz providing commentary about market trends, news and real estate technology.
To simplify property searches, Ben has incorporated neighborhood condo Quick Searches in his website. With just one click buyers can see all available condo and loft properties for a given neighborhood.
To simplify the transaction process, Ben has partnered with expert associates. Ben's team includes Title and Escrow partners, a number of lenders to satisfy his clients specific needs (first-time buyers, presales, zero-down, etc) and a transaction coordinator to ensure a smooth, stress-free process.
Originally from the sunny shores of Honolulu, Ben has lived in Seattle for the past 17 years and now considers himself a true Northwesterner. In his spare time, Ben indulges in black & white fine art photography and volunteers with the Seattle Animal Shelter as a dog walker and foster parent.
Ben volunteers and/or contributes to the following organizations:
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In the media:
Ben specializes in Seattle real estate - condos, lofts and townhomes - in Downtown Seattle, Belltown, Queen Anne, Capitol Hill, First Hill, Pioneer Square, Ballard, Fremont, Green Lake, University District and West Seattle. Though Ben is an urban condo and loft specialist, he has a number of clients in South Snohomish County and have sold homes in Bothell, Mill Creek and Lynnwood.
Urban Real Estate:
A national trend is underway in many cities - Suburban Flight - a reversal of the decades long Urban Flight. With rising fuel costs, long commutes, restrictions on growth & rising housing costs, many people are moving back to the urban core. Faciliating this trend is the revival of the urban core - enticing business back to the cities, investing in civic projects, creation of pedestrian friendly urban centers and rezoning.
Ben Kakimoto and his associates, based in downtown Seattle, understands this movement and have intimate knowledge of Seattle's urban housing market. Keeping abreast of new developments and building relationships with developers, Ben and his team provides expert knowledge about buying and investing in urban real estate.
To keep home buyers up-to-date about the numerous projects underway, Ben has devoted an entire blog to profiling Seattle's Condos and Lofts. In addition to profiles of new and existing projects, Seattle Condos and Lofts includes informative articles on purchasing pre-constuction presale and investing.
Seattle's Long Trusted Company:
Ben is an agent and REALTOR associated with John L. Scott's Seattle Center Office in Belltown. John L. Scott Real Estate is celebrating it's 75th Anniversay this year and is the region's premier real estate services company. John L. Scott Real Estate is Washington's largest and most successful real estate company based on volume (Realtor Magazine, July 2006).
John L. Scott's success is credited upon the personal and trusted relationship it's agents build with their client. Ben works closely with his clients to understand their needs and requirements. As a full-service agent, Ben focuses on providing uncompromising service that his clients have come to expect.
Recently, Ben's office was selected to handle onsite sales for Vulcan Real Estate. Vulcan's upcoming projects include the Veer Lofts, Rollin Street Flats, ENSO and The Martin. Please contact Ben if you are considering investing in a Vulcan property.
Background:
Ben brings years of experience & business savvy to the real estate profession. As a former risk manager/underwriter for a major financial services company, Ben understands the importance of clear communications, fiduciary duty, respecting confidentiality and minimizing risks. As a former IT Project Manager, Ben provides experience in high-level negotiation, managing project workflow (the buying and selling process is a project), understanding different personalities and maintains a cool demeanor.
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If you're new to Seattle or a long-time resident, here are some help resources to living and working in the Emerald City:
"Ben helped to alleviate the stress by providing a thorough market analysis, explaining the process and walking through the steps and forms needed to make the purchase of a home a reality." -- Nancy K., Bothell, WA
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