Posts tagged Blaine Weber
Just 7% of Homes in Seattle’s Multi-Family Pipeline Will Be Offered for Sale

As a recent Curbed Seattle article outlines, the abundance of luxury construction projects cropping up around downtown Seattle make it “easy to look around and think, condos. But the majority of new residential projects going up in the city – and downtown specifically – are destined to be rentals.” Of all the new homes under construction, there will be 6,324 units available for rent, and just 489 (7.1%) offered for sale.

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Blaine Weber & Daily Journal of Commerce on Solving Seattle’s Condominium Conundrum

As Blaine Weber, Senior Principal of Weber Thompson Architects, proclaims in a recent Daily Journal of Commerce article, “the affordable housing crisis is one of the more perplexing problems facing rapidly growing cities like Seattle.” One proposed solution is to add to the supply of small, affordable condominiums in the city, yet as a 2016 paper published by the University of Washington Runstad Center for Real Estate Studies notes, condominiums in Seattle are overwhelmingly “beyond the means of the average-income individual.” So, Weber asks, why is there a lack of supply amidst rising demand in the Emerald City? Though there are myriad reasons, a main one can be attributed to the liability associated with building multi-family units for sale in Washington state, given regulations outlined within the Washington State Condominium Development Act.

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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. 

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