Downtown Rental Market Update

The rental market has continued its hot trend as we head into the start of spring. Downtown condo’s are renting fast and at a premium rate. With companies continuing to expand in the Downtown area it is becoming more attractive to move back into the city after years of growth in the suburbs. Within the last 30 days Ewing and Clark Inc. has assisted our clients in leasing out their units to quality tenants at competitive prices.

 Recent units that we have leased:

 

2000 Alaska Way #335

1415 2nd Ave #2401

1240 Terry Ave #1702

 

If you are considering leasing your property but need assistance with the process, contact one of our leasing experts who can assist you throughout the process.

Pioneer Square Board Aproves 25 Story High Rise

The rumors circulating around downtown are true; the city board who has been in charge of keeping the historic presentation of Pioneer Square afloat, cast their votes and approved the modern sleek design of a 25-story apartment high rise just North of the Sodo stadiums. The all glass and steel tower will be sectioned into 2-4 story boxes, that will be positioned at varying angles. The building is part of a larger project named Stadium Place, in what previously was the North Parking Lot of Century Link Field.

Photo Courtesy of the Seattle Times, ZGF Architects

The collaborative developers Daniels Real Estate and R.D. Merril released the design the the public back in December and were met with mixed reviews, some stating that the design was far too modern to fit in with the historical appeal of Pioneer Square. But most members of the Pioneer Square Preservation Board actually had positive reviews of the design, and were all in agreeance with the new construction. The “South Tower” would be just a little shorter than the stadium, at 240 feet tall, and will have 333 units. Other projects are in the planning stages for the first phase of Stadium Place, such as a 20 story condo tower, and an office and hotel tower as well. For more information on these apartments, visit the Seattle Times.

Scams in Seattle Rental Market

The Seattle Times has announced that there are currently scams in the housing market to be aware of when browsing for your new home. Online scammers are advertising listed homes and foreclosures as "For Rent" that they most likely do not own, and very likely have never even seen before. These homes are usually For Sale, or currently being foreclosed, and scammers are taking advantage of the new vacancies right and left. Potential renters are asked to send a deposit before receiving their keys. This scam may seem like an obvious one, but these kinds of scams have been on the rise along with unemployment and desperate apartment seekers looking for a low price ticket. Be wary if a manager asks for wired funds through Western Union or Money gram without letting you into the Unit first. For a detailed description, read the extended article here.

Twin Tower Apartments Breaking Ground Soon

According to the Seattle Times, a Seattle developer plans to start construction on a twin tower apartment complex in Denny Triangle. This apartment complex, Sixth & Lenora Apartments, will have 654 units available for rent and will also have approximately 18,000 sqft of ground floor retail available. This article is further truth to our last blog "Seattle Rental Market Is Hot". To get more details on the project, please click the link above.