Another quick note on 200 West Highland.  I’ve included the invitation for the brokers/public open next Tuesday.  See below for some additional pictures of the project as well.  I would not expect to see pricing for all 17 units.  They will be unveiling 5 units and will probably make adjustments to the remaining units based on the initial demand and feedback.

Get in touch if you have any questions.

200 West Highland is back on the market.  See the press release below.  This is months after the project was to be foreclosed upon in August (Foreclosure Update at 200 West Highland)

The offering will consist of:

• 2 and 3 bedroom homes
• price at $700,000-$1,700,000

According to the MLS, the last sale was recorded on June 25th for 1,775,000.  It was a 2,398sf (2) bedroom at $740psf. There should be 17 units remaining.

Highly Anticipated 200 West Highland Relaunch Event Hosted by HGTV & Apprentice Star Kendra Todd this Tuesday, November 16th

FOR IMMEDIATE RELEASE

HGTV Star & Donald Trump’s Apprentice Winner, Kendra Todd, Hosts the Highly Anticipated Relaunch Event of 200 West Highland this Tuesday, November 16th

A special Brokers Event will be held on Tuesday at 3pm before the public Buyers Event at 5pm.

Seattle, November 11th 2010 – Join Kendra Todd, Donald Trump’s Apprentice Winner and HGTV Star, in celebrating the official rerelease of the residences at 200 West Highland in Seattle, WA.

Known for their extreme luxury, coveted location and unparalleled views, the homes at 200 West Highland are the focus of this special evening event dedicated to previewing Seattle’s most luxurious condominium project.

The first group of units back on the market will be unveiled at 200 W Highland’ s rerelease event on November 16th at 5pm. A special Brokers Event will be held on Tuesday at 3pm before the Public Event at 5pm. Private showings are available.

Perched high on the south slope of Queen Anne, this 25-home condominium development is a new landmark for Seattle, and a compelling alternative to high-rise downtown living.

“This is truly a one-of-a-kind development,” says Kendra Todd. ”It’s a rare opportunity for buyers to purchase new construction homes on historic Highland Drive with this level of quality and views.”

Situated across from historic Kerry Park, these spacious condominiums offer views of downtown, Elliott Bay, the Space Needle and Mount Rainier. The timeless architecture is designed with classic materials to complement the upscale neighborhood. Units are characterized by high-quality finishes, from marble and granite countertops to custom hardwood flooring.

Available in 2- and 3-bedroom units, floor plans range from 1,500 to 2,800 square feet. Prices will range from $700,000 to more than $1.7 Million.

Home sales are facilitated by The Kendra Todd Group at Keller Williams Greater Seattle, and led by Kendra Todd and Stacey Brower.

For more information, visit www.200westhighland.com <http://www.200westhighland.com>

A green home may be classified by LEED, Built Green, Energy Star or another 3rd Party classification.

I thought I would highlight a few environmentally certified new construction projects and those still seeking some form of green building classification:

Trace North/Trace Lofts – Capitol Hill

Brix – Capitol Hill

Rollin Street – South Lake Union

Enso– South Lake Union

Veer Lofts – South Lake Union

Parc – Belltown

Mosler Lofts – Belltown

Cosmopolitan – Downtown Seattle

Olive 8 – Downtown Seattle

1521 – Downtown Seattle

5th & Madison – Downtown Seattle

220 West Highland – Queen Anne

Hjarta – Ballard

Florera – Greenlake

Bellevue Towers – Downtown Bellevue

We just received an e-mail from Lorig Associates in regards to the status of 200 West Highland.  Many of you have read about their recent foreclosure notice.  As you will see below, the e-mail blast seems to want to assure pontential buyers and current owners that the project is stable and has potential to “weather the storm”.   Per the e-mail, Bank of America will take title of the remaining “unsold” inventory on August 6th.

Over the last 38 years, Lorig Associates has had a strong presence in the Seattle real estate community, building market rate housing, renovating historic structures, and consulting with nonprofits and universities on their housing and service facility needs. We are proud of our work, and of the condominiums we have developed – Market Place North, Market Court, The Willis, The Victoria and, most recently, 200 West Highland. In many respects, 200 West Highland is the culmination of all of our knowledge and resulted in the best building, in the best location – brought on line, unfortunately, at the worst possible time. As you may know, on May 5, 2010, Bank of America served us with a foreclosure notice on the remaining unsold homes at 200 West Highland.  Rumors abound.  Here are the facts, as we know them.

• The building is complete.
• Since the first of this year, we have closed 7 condominium homes, all owner occupied, and will be closing our 8th on June 25.  We are 32% sold.
• Bank of America intends to take title to the unsold units on August 6.
• We have been told by Bank of America that they will NOT be auctioning units, but rather will continue to sell them one by one.
• We also have been told by Bank of America that they will be holding the current pricing.  There will be no major price reductions.
• We have been instructed to continue our sales activity.

We believe that this remarkable building will survive the current turmoil and will, over time, be a smart investment and an exceptionally desirable place to live.  We are encouraged that our existing homeowners share this sentiment. If you would like more information about 200 West Highland or would like to schedule a showing, please contact our marketing agents for an appointment. Sincerely, Bruce Lorig

A few quick facts about 200 West Highland:

• 25 condominium homes
• 1,500 to just over 2,800 square feet
• Located across from Kerry Park

Developer:  Lorig Associates
Website:       200 West Highland

Ever wonder if buying a green home is a sound financial investment?  A recent article in the Seattle Times discusses recent statistics and the benefits of buying a green home.  It cites a study by GreenWorks Realty which reviewed the NWMLS King County condominium sales from September 2007 – May 2008 and included only new construction built in 2007 and after.  The statistics reflect that 18.7% of condominiums bought during this period were environmentally certified.  When priced per square foot, these green condominium homes were 28% more valuable than non-classified homes.  A green home may be classified by LEED, Built Green, Energy Star or another 3rd Party classification.   Check out the article regarding green homes and condominums…Buying Green.

In addition to this article, I thought I would highlight a few environmentally certified new construction projects and those under construction seeking some form of green building classification:

Trace North/Trace Lofts – Capitol Hill

Brix – Capitol Hill

Rollin Street – South Lake Union

Enso – South Lake Union

Veer Lofts – South Lake Union

Parc – Belltown

Mosler Lofts – Belltown

Cosmopolitan – Downtown Seattle

Olive 8 – Downtown Seattle

1521 – Downtown Seattle

5th & Madison – Downtown Seattle

220 West Highland – Queen Anne

Hjarta – Ballard

NoMa – Ballard

Florera – Greenlake

Bellevue Towers – Downtown Bellevue