Seattle: 2301 6th Ave (Insignia Towers)

[Seattle FTW]

i'm in shock...never thought we would see this one get built in the next three years

and this is the place with the trader joes, right?

[Mtoes]

Originally Posted by SteveM

I saw those piles too and was worried they might be part of whatever else has been staged out of that lot for the last few months. Still, it would be fantastic to hear they were going ahead with this project.

It seems likely they are for this project. It has a pretty shallow excavation as most of the parking is above grade. The piles are pretty short and are fabricated for one tie back. I dont know of any near by projects starting soon that would have short piles.....

[WESTSEATTLEGUY]

Isn't the Battery Street Tunnel right near this project?

[Mr.Blonde]

Originally Posted by WESTSEATTLEGUY

Isn't the Battery Street Tunnel right near this project?

Yes. The tunnel (Battery St.) runs along the northern border of the site. I doubt that much of the tunnel is below the site, but I'm sure there will have to be some consideration there.

[Mtoes]

Originally Posted by Mr.Blonde

Yes. The tunnel (Battery St.) runs along the northern border of the site. I doubt that much of the tunnel is below the site, but I'm sure there will have to be some consideration there.

The tunnel is probably limiting them to only going two stories in the hole. I am currently involved in the 3rd & battery project and sdot will not allow us to go below the base of the tunnel. So we can only have two levels of parking in the hole.

[data]

Originally Posted by flotown

how about a Soldier Pyle? some great quotes in that movie

http://en.wikiquote.org/wiki/Full_Metal_Jacket

some good ones: (not sure what gets filtered on here)

Today... is Christmas! There will be a magic show at zero-nine-thirty! Chaplain Charlie will tell you about how the free world will conquer Communism with the aid of God and a few Marines! God has a hard-on for Marines because we kill everything we see! He plays His games, we play ours! To show our appreciation for so much power, we keep Heaven packed with fresh souls! God was here before the Marine Corps! So you can give your heart to Jesus, but your ass belongs to the Corps! Do you ladies understand?

and

"Tonight... you pukes will sleep with your rifles! You will give your rifle a girl's name! Because this is the only pu**y you people are going to get! Your days of finger-banging old Mary Jane Rottencrotch through her pretty pink panties are over! You're married to this piece, this weapon of iron and wood! And you will be faithful!

great movie... those quotes brought back memories of my college days for some weird reason.

[Seattleguy]

I went in Coffman Engineers today and they had a plasma screen with a pic of Insignia. I think this project is probably a go!!!!!! I think it will greatly change the skyline of Belltown and the ambiance of 6th.

[Bond James Bond]

I walked by here today and they had these big steel girder things on the site. I can't believe this is about to happen.

Are they still gonna build just one at a time? Anyone know?

[TheBellevueBoss]

According to the initial plans, yes. They are giving the first tower a year head start on the sceond tower....

This is a surprise, this can't make the people with AVA very happy though......I would rather see AVA move forward because of the Hotel component but I will take it......

[CityView Jim]

I thought this was now apartments (or for the time being). That wouldn't compete with AVA if so.

[Dancer]

I thought I had heard that as well.

[TheBellevueBoss]

that would be news to me but so be it.....

[TheBellevueBoss]

for the time being? Makes a big difference in terms of finish materials and quality....

[CityView Jim]

Yet so many of these projects move forward. Expo62 for example. Another one, Domaine is in the process of becoming the Lake Union View Apartments.

I think there is a market for luxury apartments still. Thus, no need for downgrading kitchen, bath, and building amenities. My friend who looked at Domaine said there have been no design changes, thus quality is still the same.

[TheBellevueBoss]

that is the other way around though...Insignia is apts with option for condo form what you gys are telling me.....expo 62 and Domaine were built condo quality and as a ramification of the market they will be ultra luxry apts....

its hard to build apts and push them as luxury condos (not that it sucks to build condos and rent them as apts)...not to metion that it chops your marketing time and efforts for pre sales...and you won't have a lavished sales center for pre sales with apt projects which further hinders the marketing process for condos....there is a wide gap for finish quality in the units and common areas between apts and high rise downtown condos.....

Interesting to see what they decide on and how it will affect the design/quality of the development......

if it does go apts then Seattle is sure to see a correction in the rental market, at least downtown......ton of supply coming to market......

[CityView Jim]

And a lot can happen in 2-3 years. Look how much things changed in 1!

[BoulderGrad]

Originally Posted by CityView Jim

And a lot can happen in 2-3 years. Look how much things changed in 1!

you mean how much things changed in one year, or in Hotel 1?

[CityView Jim]

Originally Posted by BoulderGrad

you mean how much things changed in one year, or in Hotel 1?

The collapse of the mortgage industry, the plummet (nationally) in home values, and the resulting reduction in 2nd home purchases locally.

[TheBellevueBoss]

and the recession, wall street investment banks kicking the bucket, condo conversions going apartments, global banks in serious trouble to stay solvent, homebuilders facing bk, commercial rents peaking out, tightening credit standards, waning consumer demand, rising fuel prices, projects getting scraped, leveraged buyers have been eliminated from the acquistion market, Sonics leaving town, among several others....

[NW Mike]

With all the condo conversions in the last two years, If Insignia goes Apts it will only relieve some of that lost. This is a great time to be an apartment owner. Property values on apartments have gone up around 12% in this region. Rents keep going up. All my properties are Full! Lets build some more!