Don't Forget the Tour of Urban Living (13. October 2006, 21:43 by Derek Young) ~ Time to Move?
Tacoma’s 4th Annual Tour of Urban Living is this weekend. Check it out. Tell us what you think of it all. Are you ready to move downtown?
Previously on Exit133
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Interesting. The sale model for Chelsea Heights is located on Pacific Avenue, they were just finishing it up on Friday. I have a feeling that Prium will be selling condos from a number of different buildings from that space.
Looking forward to seeing the Old City Hall Building model which is located on the Commerce side of the building.
My sister-in-law was down visiting today from Seattle. She started talking about all the condos going up in Belltown and how crazy the prices are. She said she saw one small studio condo advertised at $150,000! I never thought I would see the day when my reply would be, “You think the prices in Seattle are high, you should check out Tacoma!
I’ll ask here what I asked while taking the Tour of Urban Living: are there enough empty-nesters and rich, urban, 20-something “creatives” to fill all these new condos? Where are all the waiters, waitresses, and baristas of all the hip new restaurants, bars and cafes going to live? Seattle?
2 | Posted by morgan | Oct 15, 10:17 PM
Good questions Morgan.
To answer you directly, “are there enough empty-nesters and rich, urban, 20-something “creatives†to fill all these new condos?”
No.
The current crop of condos that are in the ground or in permitting stages are all products generated from “before the housing slowdown”. So you’ll inevitably see a glut of condos when they are all standing.
However, Tacoma is in a very unique position in that we have the Tax Abatement Program incentive which will continue to be a huge selling point for our units for years to come.
Another thing that is happening is that as the skyline changes, people from outside our immediate area will catch wind of it and will naturally gravitate to the new city wanting to become part of it. This will sustain the core growth until the next wave of building occurs when the housing market turns hot again.
Either that or it’ll be a real neat ghost town with tumbleweed rolling down Pacific avenue.
My bet is on a new thriving community though. Just an opinion of course.
3 | Posted by Steve Hurley | Oct 15, 11:17 PM
“are there enough empty-nesters and rich, urban, 20-something “creatives†to fill all these new condos?â€
The people coming to buy condos in Tacoma are coming from alot of different sources.
Seattleites and people from other cities see Tacoma’s market as extremly inexpensive. With many jobs now more mobile, they are able to move to Tacoma to work.
Retirees are also moving to Tacoma having sold their house in another state like California.
Many of the condos in Seattle are selling at statopheric levels compared to Tacoma like the Fifteen Twenty-One Second Avenue:
If one is lucky, there’s a time in life when simplicity takes on new meaning. It becomes less about style and more about the ability to appreciate that which is rare and true.
At Fifteen Twenty-One Second Avenue, the architectural profile is tall and lean, the residential windows floor to ceiling, the water and city views a daily gift. Modestly put, it’s a downtown home for the confident few.
Private preview appointments available upon request. Priced from one-million dollars.
Oh my.
Once the current batch of Tacoma condos are built, the downtown has the potential to get on its feet and become much more attractive for additional residential, retail and commercial buildings. With the amount of available land, I think we have a long ways to go.
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