NEXUS — a 382-unit, 41-story condominium project — sold more than 270 homes in the week following its public sales event on March 18.
SEATTLE — The Rubik’s Cube-like architecture of NEXUS isn’t the only thing stacked up in downtown Seattle. So are the buyers.
In another sign of Seattle’s white-hot real estate market, NEXUS — a 382-unit, 41-story high-rise condominium project — sold more than 270 homes during the past week, which officials call a record for new home unit absorption in the Northwest.
The public sales event for NEXUS, which occurred on March 18, marked the opening of the project’s sales center at 2609 First Ave. in Belltown. Prospective buyers reportedly arrived by 5 a.m. to secure their place in line.
“NEXUS blew through Seattle like a hurricane last weekend, exposing the pent-up demand for homeownership in a city that seems otherwise for rent,” says Dean Jones, president and CEO of Realogics Sotheby’s International Realty. “The good news is we still have about 95 homes to offer, so it’s not too late for those that want to own their slice of this expanding skyline.”
Remaining homes include one- and two-bedroom home plans from around $800,000 to two-story SkyLofts for more than $2.5 million.
NEXUS buyers can lock in their purchase price now and personalize their interior design options for occupancy by mid-2019. Jones says NEXUS, which broke ground this month, is likely the only high-rise condominium to deliver homes before the start of the next decade, noting the protracted permitting process and challenging construction market that developers are facing with high-rise construction.
“We are thrilled to have this overwhelming sales endorsement for what’s now become a shared vision in the next generation of urban living,” says Christian Chan, executive vice president of Burrard Group, the developer of NEXUS. “It would appear the market has been waiting for this opportunity, and for those who act soon, they too can join in the excitement and the benefits of a rapidly ascending market.”
Burrard has built a 5,000-square-foot sales center facility that includes a full-scale, fully furnished two-bedroom model home. With interiors designed by Weber Thompson, the space features many of the attributes available at NEXUS, including oversize windows and European-inspired kitchens.
The kitchens are seamlessly integrated into the home thanks to built-in appliances with matching cabinet panels. The model includes a German-engineered Blomberg refrigerator and dishwasher, Italian-designed Fulgor Milano range and induction cooktop, Blanco undermount sink with Grohe facet, and quartz countertops with matching full-height slab backsplash.
The living rooms feature wide-plank oak floors with the option of extending them into the bedrooms. Buyers can choose from three color schemes and personalize their storage with California Closets.
A collection of home entertainment, security, climate control and window covering offerings by Wipliance is available. And the exclusive-to-project app “XEN” being developed by Sirqul ties in preferred vendor hardware and controls with a touch of the button, and connects homeowners to participate in building and neighborhood amenities and special offerings.
“Buyers are certainly drawn to the design features of the homes, but also love the extensive amenities provided in the building and the throughout the neighborhood,” says Michael Cannon, the sales director at NEXUS.
Common areas comprise more than 21,000 square feet and span multiple levels of the tower. A lobby lounge includes a concierge, package storage and access to both a café retail and destination restaurant space that flanks the entry.
On the seventh floor, the Podium Club will have co-working spaces, meeting rooms, a media lounge and theater, a wrap-around veranda, a dog lounge with both interior and exterior spaces as well as a dog wash bay, and a fitness center.
Above it all is the 41st-floor Sky Lounge, which boasts penthouse-level benefits for all homeowners. Features include a fireside lounge overlooking South Lake Union, an exhibition kitchen, a covered Sky Parlor with firepit, a Sky Garden sundeck, a barbecue area with outdoor seating, a catering kitchen and private dining room, and a games room — all with expansive views of downtown Seattle and the surrounding neighborhoods.
Cannon says homebuyers at NEXUS are keeping close tabs on community and political momentum for a new “lid” over I-5 that would span the distance between the east and west side of the freeway and between the bridges of Denny Way, Olive Way and Pine Street, effectively extending Freeway Park northward to Denny Way. If constructed, the cavity caused by I-5 would be replaced with a massive public park and recreational development, linking four neighborhoods. More information can be found at LidI5.org.
Cannon encourages anyone considering a purchase in downtown Seattle, at any price point, to visit the NEXUS sales center. He says it’s not uncommon for changes to occur with inventory because presale buyers consider other homes in the building, and some won’t be approved for financing purposes.