KODA UPDATE: Sales Center, Presale and Ground Breaking Schedule Announced; New Renderings and Future Cityscape Tours Released
Representatives of DA LI Development USA recently released a collection of new renderings following the design confirmation of the interior specifications and common areas while the construction entitlements continue to process with the City of Seattle. Meanwhile, the KODA Discovery Center has been secured and is under development at 510 Occidental Ave S. Seattle WA, in Pioneer Square, just north of Century Link Field.
“We are looking forward to opening the KODA Discovery Center to showcase the dramatic interiors that KMD Architects have been curating,” said Richard Jee, Development Manager with DA LI Development USA, LLC. “We are scheduled to break ground in the Fall 2018 and will commence presales then. We recognize our reservation holders have been awaiting this opportunity to experience and fully appreciate our inspired vision for KODA. We won’t disappoint.”
Jee notes that reservation holders have secured a fixed price range for their future purchase opportunity despite the fact median home prices continue to increase in the region. According to the most recently released S&P/Case-Shiller Home Price Index, the median price of a home in the greater Seattle metro area rose by 13.6% year-over-year as of May 2018 – that’s the 21stmonth in a row that the region topped the US for residential appreciation. According the Seattle Times https://www.seattletimes.com/business/real-estate/seattle-area-home-prices-this-spring-rose-at-fastest-rate-since-2006-bubble/, a typical house in Seattle now costs $813,000, $978,000 on the Eastside and even $511,000 in Snohomish County. KODA has been designed to offer efficiently-scaled studio, urban one bedroom, one and two-bedroom home options that average more attainable price points for a brand new home and avoid long commutes.
Among the recent updates Jee provided an early preview of a virtual reality tour being developed. The future visualization tool will illustrate the evolution of the immediate community including the new Seattle waterfront as it will soon emerge following the planned 2020 removal of the Alaskan Way Viaduct and retail renaissance that will soon been surrounded by parks and open spaces that will link Pioneer Square to Belltown.
ABOVE: A digital illustration of the future cityscape of downtown Seattle’s waterfront promenade and new developments in the International District.
Among the other helpful tours being developed for homebuyers, Jee confirms a collection of dynamic interactive tours are being rendered to provide a building orientation in an immersive virtual environment. The combination digital model home perspectives and a full-size vignette of the kitchen and bathroom specifications will assist in the and home finish selection process when the Discovery Center opens.
“This is it – owning at KODA is now just around the corner,” said Dean Jones, President and CEO of Realogics Sotheby’s International Realty – the listing brokerage firm representing the eagerly-anticipated condominiums. “In just a few weeks we’ll be releasing more information on the presales process and begin welcoming our newest homeowners to this transformative development.”
Jones refers to KODA’s first-of-a-kind redevelopment of a former surface parking lot, which is enviably located among a bounty of new projects and residential amenities coming soon to the neighborhood. By example, Reddit.com recently revealed permits for 85C Bakery Café http://www.85cbakerycafe.comwill soon be opening at the corner of 5thAvenue and Jackson Street just a block away. And surrounding this important transit area, Historic South Downtown, Alliance for Pioneer Square and a group called SCIDpda (Seattle Chinatown International District Preservation and Development Authority) is exploring pedestrian improvements in the “Jackson Hub” bound by 2ndAvenue, 5thAvenue, South Jackson Street and surrounding Union Station.
“The International District is one of Seattle’s most coveted neighborhoods given the historic significance, rich culture and conveniences afforded to residents – not the least of which being proximate to King Street Station – the terminus of the $50 billion+ Sound Transit expansion,” adds Jones. “KODA offers attainably-priced home ownership opportunities where owning a car is an option rather than a requirement.”
According to Walkscore.com, the corner of 5thAvenue and South Main Street is a “Rider’s Paradise” scoring a perfect 100 points and 97 points as a “Walker’s Paradise”. Much of downtown Seattle’s attractions are accessible within a 20-minute walk.
Reservations for priority presales remain available with a limited collection of studio, one and two bedroom homes offered from below $400,000 to more than $1.5 Million. Prospective buyers can still secure their new home with a $5,000 fully-refundable deposit held in escrow. Reservations provide future owners a first right of opportunity to enter into a Purchase and Sale Agreement within a set price range and without concern of multiple offers or price escalation once the developer is prepared to commence with presales.
Occupancy is scheduled for Fall 2020.