Earlier this month, NEXUS was featured in Seattle Times as a guest author to discuss its position as a truly one-of-a-kind condominium opportunity in downtown Seattle. As the article describes, NEXUS “may look like a series of stacked cubes. But according to director of sales Michael Cannon, NEXUS will offer many out-of-the-box features when it comes in mid-2019.” NEXUS is one of few planned condominium communities downtown and is currently under construction at 1200 Howell Street, designed by architects at Weber Thompson and developed by Vancouver, B.C.-based Burrard Group.
What makes NEXUS such a unique offering? As Cannon describes, it’s far different from anything offered in downtown Seattle in the past thanks to its “progressive architecture, flexible floor plans, robust amenities and high-tech features. This is the evolution of downtown living.”
The Seattle market is seeing unprecedented demand from renters and buyers. “‘It’s a stark reminder that when it comes to new-construction high-rises, demand can rise much quicker than supply,’ says Christian Chan, executive vice president of Burrard. ‘It can take three to four years to design, entitle and build a new condominium tower, so for the foreseeable future the market will be moving faster than developers can build.’”
With only a few condominium towers in planning and construction in downtown Seattle, buyers should capitalize on the opportunities that remain as market experts say “the demand to own will only increase as new residents take root in their new jobs and eventually seek the tax benefits and capital gains associated with homeownership.”
The homes that remain at NEXUS range in price from the low $900,000s to more than $5 million. Prospective buyers can secure their home with a 5% earnest-money deposit upon contract, and a 5% deposit increase by June 30th 2018. Cannon notes that the “deposit structure is particularly attractive for international buyers who can take the next 30 months to organize their funding.” It’s also a benefit for downsizers looking to secure a residence without selling their current property right away.