New condominiums for sale in downtown Seattle, WA

New construction of apartments and condos in Seattle has been booming. According to a 2017 study, the city has been growing faster than any other major city in the United States. In the decade up to that point, 21,000 new apartments had been built in the city, which means that 12% of all apartments in Seattle were new. The only other major city that came close was fast-growing Austin, Texas, at 10%. By comparison, in Long Beach, California, new apartments made up just 1% of the total. Today, Seattle’s record development boom, the building construction should yield 3,500 units this year and 5,600 in 2020, according to The Seattle Times.

What type of new construction can be seen across Seattle?

According to government records, the city’s construction boom focuses heavily on condominium growth. As recently as 2018, only 350 condos in the city went up for sale, compared to the 2,000 condo average in most years. There’s a flood of apartments, and condos have become the hot-ticket item.

Seattle hasn’t seen growth like this since 2005, before the housing bubble. As of 2018, 2000 new condos had opened in Seattle, but new projects estimate 6,000 more condos will be coming on the market in the next few years, according to a study by Polaris Pacific. 1096 condos became available in 2019, and 2020 is expected to be the same, but that will increase by 50% in 2021 and increase 100% in 2022.

Why choose new construction?

There are various reasons why many new buyers or renters opt for a new construction building, especially when looking for a luxury residence.

For starters, luxury condos are very low maintenance (and will have much fewer maintenance fees) as everything is new, and everything is high-end. They’re built to please and to last, and you’re not going to be kicking the radiator to get heat because of drafty windows.

New construction can also put you in an area that you couldn’t get with an older condo. If there’s a location that you have your eye on in a particularly popular area, such as near Pike Place Market or the Amazon campus, you’ll be strapped to find a new high-quality luxury condo in that location.

When speaking about cleanliness, a ground-up, new construction tower provides owners a fresh, clean slate. Many future residents opt for a complete blank canvas as a way to truly make a residence their own.

Regarding luxury, new buildings often offer a higher level of design, finishes and amenities. Often luxury towers will feature designs from a notable interior designer, not typically found in older buildings. Additionally, brand-new stainless-steel finishes compliment the sleek interiors. Lastly, new buildings offer the best in amenities including fully equipped resident lounges, state-of-the-art fitness centers, convenient pet-spas, and more!

Lastly, a new luxury apartment will more often rise in value making it a great investment for the future.

What are the newest luxury condos in Seattle?

Some of the hottest properties in Seattle are just coming on the market, or are in the final stages of construction. They offer luxury amenities, sought-after locations, and beautiful designs that make you drool. Some of these soon-to-be unveiled luxury apartment and condominium buildings are:

The Emerald
Rising 40 stories above Seattle’s most coveted location, The Emerald sits just one block from the iconic Pike Place Market, moments from the waterfront and all of the magnificent restaurants, bars and nightlife. Offering a hotel-inspired living experience via a partnership with award-winning management company, Columbia Hospitality, The Emerald offers 262 luxury condos and penthouses with unrivaled views and the best-in-class design and finishes. Luxury amenities include full-floor rooftop amenity space with indoor/outdoor lounge offering panoramic views of Elliott Bay and downtown, a resident media room with catering kitchen, state-of-the-art fitness center with open terrace, yoga room, outdoor pet run and spa, and more. Through a unique partnership, The Emerald also offers owners exclusive offerings at adjacent Thompson Seattle hotel, as well as on-demand luxury electric vehicle carshare through Envoy.

The 8 Tower
This 42-story condo tower in the Denny Triangle neighborhood, which gives it gorgeous views of Denny Park, the Space Needle, Lake Union, and Elliott Bay. The condos will range from one- and two-bedroom units and penthouse suites. The architects say that the design was meant to bridge between the growing South Lake Union and Belltown neighborhoods. It’s already a foregone conclusion that the building’s distinctive shape and sculpted roofline will add another landmark to the Seattle skyline.

Spire Luxury Condominiums
This building, originally planned for apartments but later changed to luxury condos, stands 440’ tall. With real estate at a premium, the Spire is in a narrow site that borders Uptown, South Lake Union, and Denny Triangle. The design was intended to complement and enhance the look of the revitalized 6th Avenue. It will have 360 units, and be approximately 400,000 square feet.

1200 Stewart Street
This pair of luxury condo buildings are designed to have a “continuous sculptural balcony” that will look like a wave across the north side of the two towers, the balconies bedecked with manicured trees. The project will have 876 condos. Originally planned as part of a hotel project, that was later scrapped, but the building will keep its main floor retail space.

BB6 Apartments
The BB6, named for Bell, Battery, 6th Street, will be a 42-story tower that will house 479 units, including a massive 7-story below-ground parking garage. Located near the Amazon campus, the building is expecting to draw upscale downtowners. The building, which splits into two towers part way up, is expected to have commercial space available on levels 11 and 12.

Why is new construction better than older buildings?

There are so many reasons why new construction is better than old, especially when you’re looking for luxury.

For starters, luxury condos are very low maintenance (and will have much fewer maintenance fees) because everything is new, and everything is high-end. They’re built to please and to last, and you’re not going to be kicking the radiator to get heat because of drafty windows.

New construction can also put you in an area that you couldn’t get with an older apartment. If there’s a location that you have your eye on in a particularly popular area, such as near Pike Place Market or the Amazon campus, you’ll be strapped to find a high-quality luxury apartment in that location.

And let’s just talk about luxury: if you want the best of everything, moving into an apartment from ten or twenty years ago will give you the best of back then, not the best of now. Older appliances without all the features, older amenities–fitness rooms, spas, pools–that just don’t live up to the amenities you can get from the latest and greatest.

Finally, if you’re expecting to move in a few years, a new luxury condo will be easier to sell, easier to get a better price for, and better to recoup your investment. New condos will only go up in price, giving you a better ROI.

How busy is new construction in Seattle?

Frankly, the construction business in Seattle is moving like a rocket. Seattle hasn’t seen growth like this since 2005, before the housing bubble. As of 2018, 2000 new condos had opened in Seattle, but new projects estimate 6,000 more condos will be coming on the market in the next few years, according to a study by Polaris Pacific. 1096 condos became available in 2019, and 2020 is expected to be the same, but that will increase by 50% in 2021 and increase 100% in 2022.

And the boom is in condos, not apartments. In fact, much of the growth is coming in buildings that were originally slated to be apartments that changed to condos during development. And this is because, despite all of this growth, there’s been a shortage of condos. As recently as 2018, only 350 condos in the city went up for sale at all–compared to the 2,000 condo average in most years. There’s a flood of apartments, and condos have become the hot-ticket item.

For information on The Emerald luxury condos, please visit https://theemeraldseattle.com and follow us on Instagram and Facebook at @theemeraldseattle.