None of the architecture in Seattle is ancient, but some neighborhoods are older and more central than others. Japantown is one of these history-rich downtown areas. It's also the site of one of the most popular new developments in the International District. With superb walkability and transit, the address is likely to appeal to people who are looking to buy into the urban live-work-play lifestyle.
If you think owning in Downtown Seattle is unattainable, this new development might change your perspective. Koda Seattle will be a 200-plus unit high-rise right in the center of the city. Reservations began in early 2018 for the condos, which were priced from the $400,000 range for a studio up to around $1.3 million for the larger units.
Buyers rushed in to secure the homes. The high demand for condos makes sense. Investors and potential homeowners are ready to invest, but the amount of inventory available in the downtown condo market hasn't been growing at the same rate as it has for other categories, namely rentals.
Taiwanese developer Da-Li apparently sees this lull in condominium tower development as an opportunity. Koda is the company's first project in the city. Da-Li sees the homes as accessible, livable and human-scale options for everyday professional people.
One of the biggest drivers for this new long-term demand is the ongoing Seattle waterfront improvement. The docks are being transformed into a series of neighborhood amenities, such as parks, shops and restaurants. Many of the changes are slated to take effect around the time that Koda will be move-in ready.
Koda's efficient floor plans and great cultural location are sure to hit home for prospective urban dwellers when the project is complete. However, there's already a huge variety of property on the market in the Seattle real estate market, from efficiency studios to lavish hotel tower aeries. You can fins a rundown of what's currently available here.