A combination of attainable home ownership and unmatched location has caused the condominiums’ sales to soar.
SEATTLE — Since its official sales debut on March 30, KODA Condominium Flats is Seattle’s fastest-selling new condominium community, with dozens of unique prospective buyers touring the sales gallery at 510 Occidental Ave. S. each week.
In its first month, the new addition to Seattle’s historic and culturally rich Nihonmachi (Japantown) has experienced scores of purchases and sales agreements already under contract, with more than half of the building either sold or with reservations still pending, says Michele Liang, a sales associate for KODA.
“There’s a lot of buzz surrounding KODA — and for good reason,” she says. “This is a first-of-its-kind offering in the Chinatown-International District and introduces attainable home ownership in one of the most convenient and dynamic communities in Seattle.”
And that dynamic community is attracting a diverse array of buyers, ranging from longtime neighborhood renters looking to buy a home to second-home owners and even down-sizing empty-nesters, who are looking to enjoy a new life of streamlined, in-city convenience.
Prospective buyers have also targeted KODA from international markets, noting that Seattle is a global city on the rise, according to Matt Van Damm, vice president of new development at Realogics Sotheby’s International Realty.
“With KODA standing centered between every major neighborhood in the city and perfectly aligned to multiple modes of mass transit, purchasing homes at KODA seems like a no-brainer for buyers familiar with the city,” Van Damm says. “KODA is an opportunity like no other to ‘own Seattle,’ with priority pricing starting below $450,000 and select residences priced under $1,000 per square foot.”
Van Damm adds, “We’ve experienced sales in all of our product lines, ranging from efficient studios to penthouses valued at more than $1.3 million. Naturally, as we sell, prices will rise due to market forces. The robust sales at KODA have established a real estate microclimate.”
Central location and proximity to transportation have been enormous selling points for the new condominiums, which are a block from King Street Station and the regional transportation network. And with the LINK light rail expansion underway, KODA will offer access to Eastside job centers and major tech campuses.
The homes will be ideal for professionals and commuters, as the Central Business District is only moments away, along with the ambitious “S” project by Urban Visions — more than 7 acres of campus real estate in downtown Seattle.
KODA will be a short walk away from the city’s new multibillion-dollar waterfront — an enormous expansion to follow the demolition of the Alaskan Viaduct that will include new parks, a city aquarium ocean pavilion, and a slew of new attractions that will transform the area.
Residents will also have immediate access to Seattle’s historic Chinatown-International District, which boasts a seemingly infinite list of sites for culture and cuisine. Adjacent to the neighborhood is Seattle’s Stadium District that is home to two professional sports stadiums.
KODA offers studios; urban one-bedrooms; and one-, two- and two-plus-bedroom homes ranging in size from 353 to 1,156 square feet. The homes will feature generous ceiling heights; walls of glass; exposed concrete columns (in most plans); engineered hardwood floors; and custom kitchens with stainless steel appliances, induction cooking, quartz countertops, glass backsplashes and premium plumbing fixtures.
New homebuyers will be able to personalize their homes with one of two designer color schemes and consider additional options such as kitchen islands and smart-home automation systems for audio/visual, security, HVAC controls and window coverings. Parking is also available for some homes, ranging in value from $65,000 to $95,000 (the latter includes storage).
KODA amenities are designed to foster and inspire a collective community. These include a full-service concierge and co-working lounge; a seventh-floor wellness center with yoga and fitness studios; a Zen garden and library with conference room; and the KODA Club Sky Lounge on the 17th floor with a rooftop terrace that offers expansive views of local landmarks, the Seattle skyline, Elliott Bay and Mount Rainier.
KODA’s construction, begun at the end of February, continues at a steady pace. PCL Construction has cleared the site and is nearly finished with soldier piles and shoring installation, setting the stage to begin excavation. The building remains on schedule for occupancy beginning by late 2020.