Transit-Oriented Condos Coming to Seattle
- Apr 27, 2018
DA LI Development USA has commenced capitalization of the $125 million Koda Condominiums project in downtown Seattle. Construction of the 204-unit, transit-oriented community is slated to begin in October this year, with a planned completion in July 2020.
The property is located at 450 S. Main St., two blocks away from the International District/Chinatown light rail and bus station. In recent years, the area has generated a large number of new retail, cultural and dining options. The site is surrounded by 22 million square feet of office space and companies, such as Dropbox, Pixar or Intel. The development features a 98/100 walk score and a transit score of 100/100.
Wide range of amenities
Designed by KMD Architects, the community will offer studios, urban one-bedroom, one-bedroom, urban two-bedroom and two-bedroom units. All apartments will include in-line kitchens with optional islands. The upcoming Seattle condo development will provide common-area amenities, such as:
- coworking space in the lobby
- retail space
- health and wellness center
- outdoor Zen Garden
- business center
- conference room
- event space
- movie theater room
CBRE Capital Markets’ Debt & Structured Finance team, led by Senior Vice President John Lo, is arranging the financing on behalf of the developer.
“High-end finishes, technology-focused improvements, attractive amenities coupled with an exceptional cost/commute value proposition have helped generate immense interest and demand for Koda Condominiums,” said Lo, in prepared remarks. “Over 97 percent of the inventory was reserved within the first week of marketing, with more than 30 percent of the inventory double or triple covered.”
Rendering courtesy of KMD Architects