Green and Beautiful

Let's take a closer look at the up and coming 5th and Madison construction. Not only is this one fittingly green in the middle of the Emerald City, but she's looking pretty nice.

The 24-story condo describes its goal as making "the line between indoors and outdoors thinner." A beautiful courtyard features a tranquil river that tumbles into a waterfall at the main entrance to the building.

Energy efficiency in the building has been streamlined so that usage is 20% better than industry standards. The floor to ceiling windows will maximize natural light, reducing the energy toll even more.


A green roof plaza will simultaneously reduce and filter runoff that dumps into Seattle's drains while using its garden to infuse the city air with fresh oxygen.

The green theme even extends as far as fuel-saving transportation. Ample bike storage space as well as on site Flexcars are promised here.

Construction is said to finish this year. The 5th and Madison was named among the top 10 green condos in America in September 2007.

The Seattle Street Car Arrival

If you have found yourself in Downtown Seattle the past couple days, you may have noticed that the new Seattle Street Car has been doing some test runs. With its official opening around the corner, December 12th, residents of several downtown projects will be able to take advantage of the new service. So what does this mean for the condo market? A couple things actually, the first being, we will see many projects use this new addition to downtown as a selling point for their condos. Secondly, and more importantly, the streetcar is expected to create jobs for an already expanding Seattle job market. In the next 15 years it is projected that 15,000 to 23,000 jobs and 8,000 to 10,000 housing units will be created in the downtown area alone. Along with building an infrastructure for new jobs and housing, Mayor Nichols hopes that the Seattle Streetcar will help create a more vibrant and eclectic mix in downtown urban neighborhoods. For more information on the streetcar, such as route maps and schedules head over to its website.

Too Close for Comfort

A hubbub regarding Seattle's Cosmpolitan has created a stir. A new, incredibly close development is sprouting up right next to it with the spacing between the two buildings amounting to a mere 18 feet. 18 feet is acutally less than the length of a 2008 Chevrolet Suburban which is 18'6". That's pretty tight.

This issue with the Cosmo isn't the only problem of its kind. It is most likely the first of many. There are proposals out for two more 500 ft towers that also hold a threat to breathing space and views. One of these possible encroachers is destined for the spot behind the now-under construction 31-story Escala and the other, planned as a residential tower of 39 stories, will lay south of the Cristala building.

Take a look at the map at the top of this article. The dotted red line encloses the zone where there is nothing that stops the buildings from being built close to one another. Or maybe it' should be called the zone of "license to smoosh."

The PI article notes that some developers have already thought ahead and are attempting to preserve the views that they have. For example, the developers of the Four Seasons and Harbor Steps jointly purchased the air rights above the Lusty Lady in 2005 in order to keep this space clear.

What can buyers who are afraid of this view obstruction and space squish do? The PI article (read more from link at bottom) offers some tips:

• Ask the developers what they know about nearby proposals and what zoning would allow, and whether they have bought air rights for surrounding lots to protect views and privacy.
• Look up the zoning of surrounding sites and understand what that zoning allows.
  
• Check surrounding addresses for project applications already filed, sign up for the notification lists for those projects so you get notice of any changes and check back regularly to look for new applications on other sites.
  
• Ask city planners about possible upcoming changes to what zoning would allow nearby.
  
• Comment in writing and at design-review hearings about proposed projects.
  
• Hire a land-use lawyer to do all this for you.
  Find information for Seattle by going to seattle.gov/dpd and clicking on "Research" for zoning maps, and "Notices" and "Permits" for information on proposals, or go to the Seattle Department of Planning and Development Public Resource Center, on the 20th floor of the Seattle Municipal Tower, 700 Fifth Ave. The center is open from 7:30 a.m. to 5:30 p.m. Monday, Wednesday and Friday, and from 10:30 a.m. to 5:30 p.m. Tuesday and Thursday, and can be reached at 206-684-8467.
  
• And remember, it may not be possible to promise nobody ever will be able to build in front of your condo.
  

Read more:
Condo Owners Struggle For Views as Seattle Rises

Buy Your Groceries Before You're Hungry

I'm staring into my refrigerator wondering why I have to go to the grocery store again--there's still food in the fridge. It's amazing that I still have to talk myself through the simple logic. Of. Course. It. Will. Get. Eaten. Before. Friday. (Friday is my shopping day). I'll run out by Thursday, or by Wednesday if I get the munchies. Then I'll starve on Friday. Grumbling, I head to the store and shell out the cash (oh, so expensive!)to buy more yogurt and granola before my stomach turns into a growling monster. Why in the world am I talking about the contents of my fridge?

How about another question: Why is now the time to own rental property? Because the food's not going to last till Friday. There are tons of condos being built as we speak. I have 1/2 a container of maple yogurt still in my fridge (I love dairy). But the condos won't be finished till 2009, said the Seattle Times last Friday. The demand for rentable space is going to skyrocket as predictions show that the all-time low for Seattle rental vacancies in 2000 is expected to shrink to an even smaller amount of vacancies in 2008.

And while we're on the business of food, a word of advice: Don't go shopping when you're starving. You'll buy more than you need and spend too much. Think in advance, and it's sweet (hint: you can get that chocolate and toffee bar before the craving cripples you). Really sweet.

Seattle Times Article: For Seattle Landlords, '08 Looks Sweet.