Apartments Are the New Condos


[ Rendering of Kinects Apartments at 1823 Minor Ave. ]

If you’ve been wondering how much the Seattle market has shifted from condos to apartments, check out this mountainous list of new and proposed downtown apartment projects recently posted by the ever-industrious Seattle Condo Blog.

As with the Denny Way projects, I can’t resist doing the math:

Olivian; 8th and Olive; 224 units
Aspira; Stewart and Terry; 326 units
Kinects; Minor and Stewart; 366 units
1200 Stewart; Stewart and Denny; 400 units (est.)
2000 3rd Ave; 3rd and Virginia; 431 units
2105 6th Ave; 6th and Lenora; 644 units
3rd and Cedar; 185 units
3031 Western Ave; 78 units
Landes; 8th and Marion; 81 units
Taylor 28; Taylor and Denny; 197 units
6th and Denny Apartments; 56 units
Expo 62; 2nd and John; 114 units
The Bernard; Warren off Denny; 62 units
Borealis; Denny and Dexter; 53 units

Grand total: 3217 units.  And that’s only downtown — there are many more going up in the neighborhoods.

But is that a lot?  For reference, as of 2002, downtown Seattle had 15,695 housing units (that includes apartments, condos, and everything else).  So yes, 3217 new apartment units is a motherload to be coming online over a relatively short time period.

Many of these new projects are similar in design and amenity to typical luxury condos.  Does this mean apartments will start to receive some of the derision so fashionably dished out to condos?  Unlikely.  Apartments are for the honest, hardworking, middle class backbone of America.  And condos are for yuppie scum.  Right?

5 Responses to “Apartments Are the New Condos”

  1. Steve

    Of course, it’s not clear that all of those are going to get built. But even if you look only at the projects that are underway (Olivian, Aspira, Landes, Taylor 28, 6th and Denny, Expo 62, Bernard and Borealis, as far as I know), you’re still looking at 1116 units underway, which is a pretty substantial number of new renters in the downtown area.

  2. Density Plague Infests Bellevue | hugeasscity

    [...] For your analytical indulgence, some Bellevue data to contemplate in perspective with the number of new housing units in the Denny Way corridor noted here (2680), and the number of new apartment units in downtown Seattle noted here (3217): [...]

  3. Apartments Coming To The Neighborhoods | hugeasscity

    [...] Today’s PI had a cover story on the shortage and high cost of apartments in Seattle, reporting that average rent is at an all-time high of $1071/month. The market is already responding — see my recent post that summed up 3217 new or planned apartment units coming to downtown Seattle. Below are several more that are new, under construction, or in the planning stages out in the neighborhoods: [...]

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    [...]Apartments Are the New Condos | hugeasscity[...]…

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