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August 5, 2008

Planned condo towers likely to be apartments

  • Laconia Development had expected to start work in 2007 on two condo high-rises, but after financing dried up plans are changing.
    • By LYNN PORTER
    Journal Real Estate Editor

    Image courtesy of Weber Thompson [enlarge]
    Work could start early next year on a 32-story building with 283 units at Sixth Avenue and Wall Street in Belltown.

    A California firm that was planning to build two Seattle high-rise condo projects instead will likely build apartments on the sites because of the difficulty with financing condo projects and Seattle's strong rental market, a company official said.


     
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