It was also a celebration for hundreds of current and prospective homeowners at NEXUS, a 41-story tower at the corner of Howell Street and Minor Avenue.
SEATTLE — On April 11, a series of events at the Peak Lounge atop the Kinects Apartment tower transformed the sky-high venue into an informative neighborhood showcase. It was also a celebration for hundreds of current and prospective homeowners at NEXUS, a 41-story tower scheduled for occupancy this year at the corner of Howell Street and Minor Avenue.
“Burrard Group hosted an extraordinary event that illuminated how the northern migration of downtown Seattle positions our homebuyers at the nexus of all,” says Matt VanDamm, vice president of Realogics Sotheby’s International Realty (RSIR). “We certainly share in the excitement for this pivotal development to begin occupancy by late 2019.”
The events kicked off with a broker open house, followed by a GeekWire podcast presented by the FutureCast Forum on “High-Tech, High-Rise Living.” Moderator Brian Westbrook hosted a panel that included urban-living specialist Julie McAvoy of RSIR, development strategist Billy Mainguy of Burrard Group, home-automation expert Lee Travis of Wipliance, and real estate economist Brian O’Connor of O’Connor Consulting Group. (Watch the FutureCast Forum: “High-Tech, High Rise Living.”)
During the event, NEXUS was referenced as the archetype of a next generation of development. It was also noted that NEXUS is the only residential opportunity offered for individual homeownership in the burgeoning Denny Triangle neighborhood.
“We forecast strong job growth and housing demand to continue well into the next decade as Seattle’s tech hub resists any slowdown that may be experienced in the national economic cycle,” said O’Connor. “The challenge, however, will be affordability. New developments like NEXUS are experiencing construction hard-cost increases of 6–8% per year, which increases the price of supply ahead.”
Fortunately for NEXUS homeowners, presale pricing was locked in so they are insulated from the rising market conditions.
Attendees learned about the more than $6 billion in capital investment taking shape in the Denny Triangle neighborhood, including millions of square feet of commercial office space, hundreds of thousands of square feet of retail and residential services, nearly 2,000 new hotel rooms and the $1.7 billion expansion of the Washington State Convention Center.
NEXUS homeowners received lapel pins and Burrard Group made $250 donations, on their behalf, to Seattle’s Low Income Housing Institute.
“It was a pleasure to meet so many of our NEXUS homeowners in person,” said Jessica Kameron, program manager for Burrard Group. “We’re looking forward to the homeowner-orientation event this summer and to beginning the closing and resident move-in process later this year.”
Members of Caliber Home Loans, the preferred mortgage lender for NEXUS, were also available during the event to help homeowners begin their financing applications and take advantage of historically low interest rates.
Mainguy of Burrard Group recounted the many development and construction milestones that culminated with the recent topping-off ceremony at NEXUS.
“At Burrard, our philosophy goes well beyond the development of concrete, steel and glass,” he said. “We are creating a spirit of place and a sense of community with all of you.”