Downtown Seattle: decent jobs, passable entertainment, increasingly unaffordable housing. So what's the solution? According to today's P-I, the time has come for the incredible shrinking condo.
Park two of GMC's biggest Sierra pickups next to each other. That's a lot of truck, but a small condominium — at least by Seattle standards.You have to respect a guy that can so artfully spin what is essentially a glorified dorm room with phrases like "affordable new construction" and "diversity." I guess this is what it takes to get into a home downtown. I don't doubt that there will be plenty of people anxious to get their very own 296 square feet of American Dream™.
But a local developer is betting Seattle urbanites are primed to carve out their own two-truck chunks of Belltown. The moda condos, set to break ground in October, promise "New York-style living," with units as small as 296 square feet that start at $149,950.
"I think there's unmet demand for affordable new construction in downtown," said developer G. David Hoy, president of HMI Real Estate Inc. "I also believe downtown needs more diversity."
I think I'll get a few steps ahead of the curve, and look into opening an outlet where I can sell the affordable housing of the future.
(Aubrey Cohen, Seattle P-I, 08.31.2006)