Downtown Condos: Middle Class Need Not Apply

Here’s a detail in today’s Seattle Times article about Insignia—the first new construction condo project to break ground in five years—that caught my attention: While condo prices at Insignia haven’t been set, Bosa said, “they’ll be more than you can buy anything [downtown] for now.” More than anything that’s for sale right now? Yikes. One […]

Olive 8’s Unconvincing “Reset” Marketing Strategy

There has been a lot of buzz in the local real estate scene recently after Olive 8 announced their “reset” marketing strategy for 2011, following the developer’s switch from Coldwell Banker Bain to Realogics just before Christmas. One of the cornerstones of the campaign appears to be the “Reset at Olive 8” video at right […]

Friday Flashback: “Seattle isn’t like other cities.”

Time for another Friday Flashback! Today’s flashback comes at you from February 2007, as the Seattle Times declared 2007 to be “The year of the condo in downtown Seattle” (emphasis mine). [Condo developer David] Thyer insists that Seattle isn’t like other cities, where developers are struggling with an oversupply of new condos. There’s a demand […]

Friday Flashback: Olive 8: “We’re going to wait this out.”

Today’s flashback comes from… just over a year ago. July 2009: Photo by Flickr user paperjam At Olive 8 in downtown Seattle, county records indicate only 28 of 229 units have closed. But David Thyer, president of developer R.C. Hedreen, said his firm has no plans to cut prices. “We’re not inclined to discount the […]

Renegotiating and Walking Back to Olive8

I posted this to the Twitter news wire yesterday, but since the original story merited a full blog post back in May (Walking Away at Olive8), I thought that Andy’s thoughtful follow-up would be worth posting as well. As it turns out, local internet entrepreneur Andy Liu didn’t end up walking away from Olive8 after […]

Some Luxury Condo Developers Finally Dropping Prices

Another great story in the Seattle Times today by Eric Pryne: Bellevue Towers, other new condo projects cutting prices The developer of the region’s tallest luxury condo towers says it’s cutting prices an average of 20 percent in hopes of kick-starting sales. Only 43 of the 539 units at Bellevue Towers in downtown Bellevue have […]