Results tagged “real estate” from Belltowner

Harbor Properties Inc. may pull out of plans to build several new Belltown apartments that were scheduled to be constructed next year. "We are not sure we can attract (investment) capital or financing for the next round of building in 2009," said Harbor CEO Doug Daley.

Harbor's proposed projects encompass nearly 1,000 apartment units sprinkled across the Belltown, West Seattle, Columbia City and the Central District neighborhoods of Seattle. Ouch.

Any Belltowners have real estate hardships of their own during this financial crisis?

The old Lampreia on 1st and Battery is for sale. For only $350000 you could have your very own high visibility restaurant in the heart of Belltown's restaurant area.

Perhaps this is a good new space for the new McLeod Residence? Hey, you could lay down a pretty swanky dance floor in that space...

According to an article in Puget Sound Business Journal, the average rent for a downtown Seattle apartment rose from $1253 in 2007 to $1,350 in the first quarter of 2008. The vacancy rate fell to 3.5 percent from 5.2 percent.

Apartment Real estate company Hendricks & Partners says, "Significant job growth and above-average home prices will ensure strong renter demand. The metro area's apartment vacancy rate will remain relatively low in 2008, only to increase slightly in 2009 as more apartment product comes online. Strong renter demand will likely put upward pressure on apartment rents, with rent growth hovering between 6 percent and 7 percent through 2009,"

Yep. Sounds about right. I just received a letter yesterday from our landlord letting us know it was time to raise the old rent.

Word in the real estate world today is that Seattle law firm Patterson Buchanan Fobes Leitch Kalzer & Waechter has acquired the 2112 3rd Ave. office building in Belltown. The property sold for the property for a little more than $7 million, or about $292 per square foot.

Not too shabby.