THE SEATTLE PIVOT
According to research by O’Connor Consulting Group, annual apartment demand in 2017 fell by 4,500 units (unexpectedly) throughout King and Snohomish counties and this decrease was concentrated into the second half of the year. Meanwhile, sales of single-family and condos in the same area swelled by more than 5,000 units—rising from 40,825 homes closed in 2016 to 45,949 in 2017. It would seem that renters are increasingly positioning themselves for capital appreciation, mortgage interest deductions and attainable ownership options for fear of being priced out with rising home prices compounded by interest rate hikes.
TWENTY-MONTH HOME PRICE LEADER SEATTLE WIDENS GAPS WITH COMPETING CITIES
This was the first instance of back-to-back monthly index gains of more than 2.25 percent since May 2013. It was also enough to expand the year-over-year advance to 13.1 percent, bringing Seattle’s nationwide lead to 20 months—second-longest in the history of the index.
Thousands are reading about The Pinnacle at Alki, as a special feature was hand delivered to 1,500 broker mailboxes throughout the Seattle area, and was included in select copies of Puget Sound Business Journal, Wall Street Journal, Madison Park Times, Capitol Hill Times, Queen Anne & Magnolia Times, Magnolia News, City Living Seattle, The Monroe Monitor, Valley News, Eatonville Dispatch and Marketplace.
PORTRAIT OF Seattle Magazine
Seattle is the fastest-growing large city in the US with home prices rising more than any other metro area in the nation. That means developers are building new condominiums at a record clip, right? Nope, it's actually the opposite.
Realogics Sotheby's Int'l Realty
The lack of affordably-priced condominiums in downtown Seattle has prospective buyers turning to reservations and presales.
In 1907, when Seattle annexed Ballard, Ravenna and West Seattle, transportation meant nothing more than sail routes, roads, bridges, and sometimes cow paths.
"A new condo building is coming up at the northernmost tip of West Seattle. Unlike the condo buildings popping up around the city's core, the project is staying pretty small, with just six floors and 11 total units."
"Prospective homebuyers and brokers are invited to attend a design preview event on Nov. 18 a The Pinnacle at Alki, an 11-unit luxury condominium community being constructed on Alki's northernmost perch."
THE SEATTLE TIMES
The Seattle Times
"Scores of prospective homebuyers and brokers attended a design preview event recently for Pinnacle at Alki, an 11-unit luxury condominium community being constructed on Alki’s northernmost perch."
"Representatives of Realogics Sotheby’s International Realty, ReMax Northwest Realty and Attollo Development jointly announce the commencement of construction and home reservations for The Pinnacle at Alki – an eleven-unit, luxury condominium development located at 1118 Alki Avenue SW in West Seattle."
The Seattle Times
"Broker representatives will begin accepting reservations for priority presales on Oct. 14 at 1 p.m. at Pinnacle at Alki, a planned collection of 11 condominium estates. A design preview event is being hosted in the Admiral Room at Salty’s on Alki Beach restaurant, 1936 Harbor Ave. S.W. in West Seattle."
The Seattle Times
Boutique Collection Will Offer Iconic Alki Viewpoint
"The Duwamish Head, the northernmost point along West Seattle’s Alki shoreline, offers iconic views that range from downtown Seattle’s skyline across Elliott Bay and westward to capture inspiring sunsets over the Olympic Mountains. Soon, this panoramic view will be available to buyers of 11 condominium estates planned at Pinnacle at Alki."
Portrait of Seattle Magazine
The Pinnacle at Alki is highlighted within a 16-page waterfront living spread in the current edition of Portrait of Seattle Magazine, a luxury lifestyle publication centered around Pacific Northwest living.