Having recently celebrated the “topping off” of the 41-story tower, NEXUS has returned to market with its remaining condominiums.
SEATTLE — NEXUS has sold 361 of its 389 homes, and first occupancy at the high-rise is scheduled for late 2019 — the soonest among all of downtown’s new construction condominiums, according to Julie McAvoy, the project sales director with Realogics Sotheby’s International Realty (RSIR).
Robust presales prompted the retirement of the NEXUS sales center in June 2018 as the developer, Burrard Group, focused its attention on construction. Having recently celebrated the “topping off” of the 41-story tower, Burrard is now returning to market with the 28 remaining homes. New listings include one-, two- and three-bedroom condominium flats and Skylofts priced from less than $1 million to more than $2.7 million.
Previously, McAvoy worked on several other Seattle projects, including the 229-unit Olive 8 in the retail and theater district and the 261-unit 2200 in South Lake Union. More recently, she led the marketing and sales of 168-unit LUMA on First Hill.
McAvoy points to more than two dozen high-profile projects under construction and planned near NEXUS, located at the corner of Howell Street and Minor Avenue. They include several million square feet of office space; hundreds of thousands of square feet of retail, including new grocery stores; and the expansion of the Washington State Convention Center.
She says more than 10,000 high-rise apartment units have turned the immediate neighborhood into a vertical residential enclave; however, NEXUS remains the only community where individual homeownership is offered.
“I remember selling new condominiums more than a decade ago when consumers couldn’t comprehend the impact of the South Lake Union Streetcar or the planned growth of the area,” says McAvoy. “Fast-forward to today, and the northern migration of downtown Seattle is in clear view, with billions of dollars of capital investment building a city within a city. It’s all very exciting, and soon, hundreds of NEXUS homebuyers will own an interest in this growth while enjoying a convenient and walkable urban lifestyle.”
McAvoy says the remaining homes at NEXUS will be particularly attractive to move-up buyers who are seeking the “next-generation condominium,” or downsizing empty-nesters looking for a convenient “lock-and-leave” lifestyle.
“The remaining collection at NEXUS presents our largest home plans, including penthouses and Skylofts, with premier specifications and commanding views,” says Billy Mainguy, vice president of strategy for Burrard. “We feel reintroducing these homes for presales now will stand out in the marketplace with inherent advantages. We offer homebuyers enviable market timing, ample parking and competitive pricing compared to our peer group. We also want to provide new homebuyers with sufficient time to sell a home, if necessary, and move into NEXUS later this year.”
Mainguy notes that Burrard broke ground on NEXUS two years ago and occupancy is expected by late 2019, approximately a year before other condominiums in the pipeline.
“We are fortunate to have locked in construction costs in 2016, when the market was 15 percent less expensive than it is today,” he says. “As a result, we have been able to pass off much of this savings to our homeowners and price our homes significantly less than what they would cost on a project commencing now.”
To showcase the evolving neighborhood and introduce new NEXUS team members, Burrard will celebrate with an event for existing and prospective homebuyers on April 11. For more information, visit NEXUSseattle.com.