38-Story Condo Tower Opens in Downtown Seattle
- Dec 15, 2008
By Anuradha Kher, Online News EditorSeattle–Opus Northwest has opened Fifteen Twenty-One Second Avenue, the company’s newest condo high-rise, located in downtown Seattle. Residents will begin moving into the 38-story building next week. The project is about 95 percent sold. “There is some softness in the market, but it’s fairly stable” Tom Parsons, senior vice president and general manager of Opus Northwest, tells MHN. “But after our project opens, there will not be a new project opening here for nearly two years.”Located next to Pike Place Market, Fifteen Twenty-One Second Avenue is the first residential high-rise developed under the city’s new downtown zoning code. The code encourages density through development of taller, more slender buildings. The code also requires the project be constructed to a Leadership in Energy and Environmental Design (LEED) Silver standard. Under the updated zoning code, developers may choose to build taller, thinner buildings in exchange for contributions to the city’s affordable housing fund. Through this project, Opus Northwest is providing $1.88 million to the fund, which will help create about 40 affordable housing units in the city. The two-bedroom units range from $800,000 to $5 million, depending on size and view. The smallest unit is 1,650 sq. ft. and the largest one is 2,800 sq. ft.“Right now, everything closing is of the lower price range,” Andy Taber, senior real estate director for Opus Northwest, tells MHN. “The bulk of the units bought are by 35 to 65 year olds.” The lobby includes 21-ft. ceilings in some areas, a fireplace, a 10-ft. locally crafted chandelier and original artwork. Susan Marinello of Seattle-based Susan Marinello Interiors designed the chandelier. Instead of traditional balconies, residences have an indoor-outdoor glass room with a folding window system. This makes the space available for year-round use by creating a solarium when the windows are closed during cold weather and leaving only a protective rail when the windows are opened.