Some parts of the market in the greater Seattle area may be slowing down, but nobody told the condo developers in Puyallup:
After several years of public investment in downtown Puyallup, private money is now pouring into multilevel condominiums around Pioneer Park.
It appears to be money well spent. Some units are expected to sell for around $500,000.
"When we started, we were not predicting prices that high," condo developer Bill Schuur said. "It’s clear that there’s a strong housing market in downtown Puyallup."
In recent years, Puyallup has brought pedestrians and shoppers back downtown with its new library, farmers market and businesses that have replaced empty storefronts. But some say a sure sign of downtown revitalization is when people choose to live there.
"Seattle, Bellevue, Tacoma – everybody is moving downtown," said Tony Benson, 52, who was having early dinner with his wife, Julie, at a picnic table at Pioneer Park on a recent afternoon. "That’s the way to the future."
Developers say the demand shows no sign of abating.
"Our experience in marketing Pioneer Park Condominiums tells us, anecdotally, that demand will continue to increase, and prices will rise steadily," Cochrane said.
Demand never decreases, and prices never decline. Nope. Not ever.
(Eijiro Kawada, Tacoma News Tribune, 03.23.2006)