Curbed Seattle on the 'Rush of Demand' at KODA Condominiums
In a recent feature on Curbed Seattle, Sarah Anne Lloyd writes that KODA Condominiums "experienced a rush of demand" during the launch of unit reservations over the last weekend in February, and that the project is now already 95% reserved. The article describes that "condo-seekers put down a refundable $5,000 deposit for the first right of opportunity," which is held until Da Li Development USA finalizes the product offering.
"We have an opportunity to further anchor Japantown and its contribution within the International District," Yang Lee, a director with KMD Architects, tells Curbed. "We are paying homage to a historic past while participating in the renaissance taking place in the International District."
As one of few new condominium buildings planned in downtown Seattle, the fast speed of reservations showcase the high demand for in-city condos, a demand that is not often met because of the stringent regulations within the Washington State Condominium Act. Lloyd cites architect Blaine Weber, who recently told Daily Journal of Commerce that condo projects are "a guaranteed lawsuit," which deters many developers from building them over apartment buildings.