Amenities at NEXUS will include a ground-level lobby, lounge and restaurant and bar; and a seventh-floor common area comprised of co-work spaces, conference rooms, a fitness room, an indoor/outdoor pet lounge, an entertaining great room and an outdoor patio.

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SEATTLE — NEXUS, a condominium tower planned in downtown Seattle, will begin offering sales reservations at 11 a.m. on June 4.

“Seattle is ready for NEXUS,” says Christian Chan, executive vice president of The Burrard Group, the project’s development firm. He says home prices will start in the $300,000s at a time when other new condominiums in the urban core are sold out below $900,000 and there are just a handful of available resale condominiums priced below $500,000.

“The market fundamentals are in place, rents are high, mortgage rates are low and consumers want to own a piece of the appreciating skyline,” Chan says. “Given the rapidly increasing cost of housing in Seattle, it was time to challenge the status quo in development and introduce ergonomically-designed and attainable living spaces with expansive in-building amenities and services that enables an enhanced lifestyle.”

Amenities at NEXUS will include a ground-level lobby, lounge and restaurant and bar; and a seventh-floor common area comprised of co-work spaces, conference rooms, a fitness room, an indoor/outdoor pet lounge, an entertaining great room and an outdoor patio.

Rather than placing penthouse homes atop the building, NEXUS features a full-floor Sky Lounge and rooftop terrace with views of the city and beyond.

The building is expected to include fully furnished hospitality suites that can be leased on a nightly basis so owners only pay for guest accommodation when they need it versus servicing a mortgage on a second bedroom that gets used only a few times a year, Chan says.

“We’re in one of the most technologically-advanced, dynamic and socially-connected cities in the world,” he says. “It’s time that a condominium tower kept pace with these trends.”

Michael Cannon of Realogics Sotheby’s International Realty will serve as the community sales manager at NEXUS. He has represented high-rise developers for more than 25 years.

“I really couldn’t be more excited to be involved with NEXUS at this time in this market,” Cannon says. “I’ve been on the front lines of development cycles that reshaped cities, including Yaletown in Vancouver, B.C., in the early 1990s, Belltown in Seattle in the late 1990s, the Gaslamp District in San Diego in the early 2000s, Las Vegas in the mid-2000s and most recently back in Vancouver.”

Cannon says he believes that Seattle is following the market trends of other gateway cities such as Vancouver and San Francisco. He views thousands of recently built apartments as incubating future homebuyers.

“A recent report by Zillow states that Seattle is the fourth-most-populous city in the U.S. where wealthy millennials reside, behind Huntington Beach, San Francisco and Arlington, Va.,” Cannon says. “Market pundits acknowledge that many within the tech corridor are moving from the pricier Bay Area to Seattle for opportunities, but also because Washington has no state income tax and home prices are more affordable, albeit rising just as quickly.”

Cannon says new residents are more likely to rent at first, hence the city’s apartment boom. But increasingly, he says, they realize that with tax benefits, owning can be less expensive than renting.

“That’s what’s changing before us,” Cannon says. “New developments like NEXUS are providing opportunities for this demographic to migrate from rental apartments to homeownership as they become rooted in Seattle after a couple of years. Presales allow these savvy consumers to get ahead of the curve by locking in pre-completion prices, preferred home selection and options for home personalization.”