Located on 2nd Avenue in downtown, the Millennium Tower is a staple of Seattle luxury.  It stands 20 stories tall and is home to 19 distinct residences.  Designed by Zimmer Gunsul Frasca Partnership and developed by Martin Smith Development Corporation, these exclusive homes range from 2,300 to almost 10,000 square feet.

Millennium features concrete and steel construction, and was designed by renowned Olson Sundberg Kundig Allen Architects.

EXCLUSIVE WEBSITE
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www.milleniumtowerseattle.com

UCS PROJECT GRADE
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WALKSCORE
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Just for fun, I thought I would share two different units for lease.  One in Bellevue and the other in downtown Seattle.  If you are in the market for a rental, bring your checkbook .

Madison Tower Condos

$12,500-See Here

Lincoln Tower

$17,500-See Here

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If you have a condo that you want to lease, we would be thrilled to talk to you about our UCS leasing program.  We have developed a service that reaches far more potential tenants then any other leasing service in Seattle.

Madison Tower is comprised of 47 units units that sit above Hotel 1000 in Downtown Seattle.

Madison Tower is a boutique condo/hotel project that offers luxurious amenities and functional floor plans.  Completed in 2006, Madison Towers was the first hotel/condo project built in Seattle.  Located at 1st Ave and Madison Street, Madison Tower offers an exceptional location.  Amenities include a spa, gym, business center, room service, housekeeping service, virtual golfing, private elevators, exclusive roof-top deck and 24 hour valet.

There are five units per floor with the exception of the penthouse.  All the units are located between the 15th through the 24th floors.

The building is located between Pioneer Square and Pike Place Market on the corner of 1st Ave and Madison St and occupies a quarter block.

Overall, Madison Tower is class A project, good location and a great offering for Seattle residents.

EXCLUSIVE WEBSITE
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www.madisontowercondos.com

UCS PROJECT GRADE
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WALKSCORE
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This is a fun post for me to write.  I have been so excited to share with you some recent updates to the blog.  As you will see in the picture below, we have added a category of links titled “UCS Exclusive Sites”.  I think this is an incredible addition to the site.

For the last 2 months, I have been working tirelessly on building individual sites for the major condominiums projects in Bellevue and Seattle.  The objective was to bring each project to you!  This hyper-local approach, delivers “building” specific information.  Each website is loaded with great info.  You can search units for sale, units that have sold and within a few weeks you’ll be able to search for rentals as well!  In addition, you will find the following:

• Neighborhood information
• Amenities
• Walkscore and much much more.

Each site is fairly interactive as well.  For example, if you want UCS to send you listings in your favorite building, just fill out the email notifications form and you will receive new listings immediately when they hit the market.  As an owner you will also be able to keep tabs on the units that are for sale in your building.  We will be adding new features to the site as time goes on. For now, my hope is that you enjoy what has been created.  Please spread the word!  I’m very excited to get your feedback.  See below for a list of all the websites offered at this time:

Here is an example of the website for the Vine!

These are where the website links are located in UrbanCondoSpaces (see the picture below):

Eastside/Bellevue Condos:

Bravern Condos
Bellevue Towers
One Lincoln Square
One Main Street Condos
Astoria Condos
Washington Square
Kirkland Central

Seattle Condos:

Trace Condos and Lofts
Brix Condos
Eastlake Condos and Lofts
Enso Condominiums
Veer Lofts
2200 Westlake
The Cosmopolitan
5th and Madison
Escala Condos
1521 Condominiums
Cristalla Condos
Bellora Condos
Concord  Condos
The Vine
The Parc
Mosler Lofts
Madison Lofts
Gallery

According to my source at Realogics/Sotheby’s, 1521 second is now 70% sold and occupied.  This includes 4 sales in April and a number of other contracts in negotiation.  They are still running a program that includes a Smart ForTwo car with a purchase before April 30th.  (See here)

Other notes:

• All remaining homes start at $1.1 million.
• New website  www.1521second.com
• New Vimeo webpage with 1521 building tour
• Photo galleries
• Building Features
• Floor plans

To schedule a tour, click here:

I exchanged a few e-mails earlier today with a contact over at Realogics.  I thought I would share the update they provided on their current inventory.  In less than 18 months their group has acquired a notable amount of units.  I commend their efforts on promotions.  I think we would all agree that everything needs a big red-bow on it right now.  That means that it has to be price, promotions or perceived value that is second to none.  At any rate, see the update below:

MARKET DISTRICT – Fifteen Twenty-One Second Avenue (www.FifteenTwentyOne.com)

• William Justen hosted an agent seminar on Tuesday, March 23 and presented “The Value of View” (LINK)
• New video building tour online (LINK)
• New interviews with William Justen (LINK)
• New interviews with Tom Parsons (LINK)
• In celebration of recent LEED “Silver” certification, all new home sales before April 30, 2010 will include a Smart ForTwo vehicle (LINK)
• Introduced a new 4,400-sq. ft., three bedroom plus den floor plan offered at $7.25 million (combines a C & J plan for half of the 34^th floor)(LINK)
• Open house this weekend (Noon – 4pm)
• Homes start at $1.1 million
• Now more than two-thirds sold and occupied

FIRST HILL – The Decatur (www.OwntheDecatur.com)

• Offering “Double the Tax Credits” up to $16,000 (select homes) for sales before April 30
• Up to 35% off original list prices
• Home start at $184,950 or just $859 per month (see agent for details)
• FHA approved –just 3.5% down payment!
• Phase II sales release happening now – see NWMLS (LINK)
• New video building tour online (LINK)
• Now more than two-thirds sold and occupied

CAPITOL HILL – Eleven Eleven East Pike (www.1111EastPike.com)

• Up to 25% off original list prices
• FHA approved –just 3.5% down payment!
• Home start at $244,950 or just $1,127 per month (see agent for details)
• Full sales release now available  – see NWMLS (LINK)
• New video building tour online (LINK)
• Now 50% sold – only 13 homes remain!

BALLARD – Hjarta (www.hjartaballard.com)

• Bulk Sales Event – March 27 & 28 (Noon – 5pm)
• Up to 35% off original list prices
• Home start at $274,950 or just $1,154 per month (see agent for details)
• FHA approved –just 3.5% down payment!
• Phase one sales release – now listed on NWMLS (LINK)

GREENLAKE – Florera (www.floreragreenlake.com)

• Bulk Sales Event – March 27 & 28 (Noon – 5pm)
• Up to 35% off original list prices
• Home start at $244,950 or just $1,028 per month (see agent for details)
• FHA approved –just 3.5% down payment!
• Phase one sales release – now listed on NWMLS (LINK)

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

As discussed in many of our previous blogs, the “wait & see” approach has continued through the middle of summer.  It is amazing to watch the natural progressions of the real estate market auto correcting.  Condo Conversions have come to a screeching halt, new construction has been put on hold, and many condo projects have converted to either Apartments or Office/Retail.  Projects like Expo 62 and most recently Moda have been turned Apartments after being fully under way with their sales processes.  Moda came as a suprise – especially due to the fact that they were sold out less than a year ago.

All of this negative news is actually positive for the local Seattle & Eastside markets.  The New Construction Inventory is shrinking, which will eventually start evaporating the oversaturation of resale inventory in the city.  Just under a year ago it was nearly impossible to keep up with all of the construction.  Suprisingly, rising gas prices and worsening traffic reports will continue to play a role in ”Urban Appreciation”.

Other Projects that are on hold or moving to apartments include:  Seneca, Icon Tower, AVA, Insignia, Candella, 1 Hotel & Residences, as well as Vida & Lincoln Tower 2 in Bellevue.

1521 Second is proud to have staked a claim in one of the nation’s top 10 neighborhoods. Pike Place Market, not even necessarily considered a “neighborhood” by most Seattleites, was recently awarded that distinction. Citing diverse occupants (high-priced condos and low-income housing), the plethora of things to do within walking distance, history and functionality, the American Planning Association was sufficiently charmed to bestow the honor. No doubt developers working with 1521 Second welcome the recognition.

Slated for completion in late 2008, 1521 Second will be one of Seattle’s premier luxury buildings. Amenities include lounge rooms, a yoga/pilates center, high-speed elevator, business center, concierge, children’s playroom and a rooftop deck that, at 400 feet in the Seattle sky, should be captivating. In residences, finishes feature 8′ solid interior doors, motorized bedroom blinds, custom cabinetry, slab granite counters and self-closing drawers. Appliances include Bosch washer/dryers, Wolf ranges and microwaves, Sub-Zero refrigerators and Miele dishwashers. There will be residential homes on floors 7-38. Each floor will have only 3-5 units – five toward the base, four in the middle and three at the top. Prices at 1521 Second start at $1 million.

Breaking ground next year at 2nd & Pine; Urban Visions is building the next luxury high-rise condo/hotel complex in the downtown corridor. Urban Visions is a locally based company with other projects in the works, including two mid-rise apartment buildings.  Conscious of environmentally savvy urbanites, the firm ambitiously seeks Gold or Platinum LEED certification on all three downtown projects.

The 36-story structure will house a 5-star hotel, 7 levels of below-ground parking and 10,000 sq ft of retail space. There will be approximately 150 hotel rooms and 150 condos. The condominium’s price point comes in at an average of more than $1000/sq ft, second only to the uber-lux Four Seasons. Urban Visions may find a decent niche in the downtown market, as the Four Seasons asks nearly $2200/sq ft.