posted 08/10/08 03:44 PM | updated 01/04/09 04:22 PM
Views: 188 | Comments : 2 | News, etc.

Denny Triangle Development Update

By rick.s
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Hugeasscity has put together a helpful guide to keeping track of Denny Triangle's rapidly changing landscape.

A number of projects in the area have been shelved or scrapped all together due to the housing and credit market downturn. The most recent building to enter this category is AVA, a 36-story hotel/condo.

Other sites slated for condo buildings have since converted or are considering converting to apartments (Aspira, Carbon 56, Icon Tower, 1200 Stewart). These projects will now compete with other luxury units at the The Olivian (under construction) and Kinects (planned).

Other developable land has gone the office route (see West 8th, 1918 8th and 818 Stewart).

In fact, only a few condo projects will be coming online in 2008 and 2009 in the D.T., including Olive 8, Enso and nearby Rollin Street.

28-story West 8th. Photo: Hugeasscity

In a similar vein but in a slightly different market (West Lake Union), urbnlivn wonders if the failure of Domaine as a condominium project and subsequent conversion to apartments preempts Unico's modular housing project "Inhabit".
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Hey. That's why I said shelved or scrapped. We shall see how slight the delay really is.

Icon is in there, too.

There has been a lot of talk that the condo pipeline has dried up so much that there will be a lack of supply going forward, but that analysis doesn't account for the glut of supply from ill-timed flips that will still be on the market.
Comment by Rick 10 months ago (0 votes) (report abuse) (reply)
Hello Rick. In the interest of accuracy, the AVA project has not been "scrapped" - in fact plans were submitted to the Seattle Building Department [DPD] last week for the building permit. I am a buyer there and it has been made very clear that the project is slightly delayed but fully intending to be constructed. One project that is not on your list is the ICON Tower / aka 600 Wall project in the corner of the DT. That one has gone high end apartment. This trend of converting to apartments from condos will result in a lack of supply on the condo side in a few years - the pendulum always swings too far to one side or the other!
Comment by Blaine Weber + 10 months ago (0 votes) (report abuse) (reply)
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