Condo Conundrum

Like many other cities, there are condos a-plenty in Seattle. Developers are trying almost anything to get them sold. But the majority remain empty, leaving developers scratching their heads about what to do.

"Prospective condo buyers are being lured by pretty amazing incentives these days. That's because there is a veritable glut of brand new condominiums on the market. A few years ago, it seemed, every parking lot in downtown Seattle was being turned into condos. Many of those projects are coming on line now, during the worst real estate market in decades.

At Brix, which completed construction late last year, two thirds of the building's units are still unsold."

By some estimates, there are thousands more condos in Seattle than the market can currently absorb, which is putting financiers and condo developers in a tight spot.

Full Story: Condo Glut

Comments

Build Your Own Paper Block City

Urban Fold is an all-inclusive kit that allows anyone to build the city of their dreams with a few simple folds.
$24.95
building block set

NEW! Build the world you want to see

Irresistible block set for adults when placed on a coffee table or desk, and great fun for kids.
$25

Wear your city with style!

100% silk scarves feature detailed city maps. Choose from six cities with red or blue trim.
$55.00
AICP CTP Storefont Display

The first online AICP* CTP exam prep class

Are you ready to take the AICP* Certified Transportation Planner exam?
Priced at $245 for May exam!