Condo Diversification in Downtown Tacoma
The TNT has a fairly extensive story on the condo market today. The general idea is this: condo prices are targeted at the well-to-do downsizers and professionals. First time buyers are being ignored.
Maybe it’s expectations. Folks want the new edgy industrial condo glamour, but the cost of a small footprint conversion. I said a long time ago that several neighborhoods were going to gentrify before they are ever cool and hip. At this point, I just don’t see how the economics of it would direct us any other way.
While I do feel it captures many of the questions around new construction and neighborhoods like the Stadium District and St. Helens neighborhood, it does seem to miss a few projects. Sky Terrace was priced from $180k. Several condos along St. Helens are still in the $100s. The south downtown area has several units in the $100s. Projects like City Steps have some large units in the $200s. The North Slope neighborhood has a few in the $100s. Of course, other than City Steps, these aren’t new construction…
We also have to remember – this is the beginning. There are a lot of buildings and a lot of land that still waiting to be developed. Diversification in real estate prices may be determined by the market once we see how these first projects sell over the next eighteen months. I suspect the current inventory will begin moving much more quickly once a few more projects start opening their doors to residents. We’ll see. I’m an optimist.
Link to The News Tribune
Update : 3/28/07
8 comments
T Thorax O'Tool September 9, 2008
Awesome! That’s even closer to me than the YMCA in downtown.
However, I doubt they will have a pool… a saline pool mind you. It’s great for those of us who are bothered by chlorine. I mean, if it’s cheaper than the Y’s $39, then maybe it’s a go.
If not, I’ll stick to the Y.
But it’s great to see something move in there. Right on!
A altered chords September 10, 2008
It IS great to see someone moving in. Especially a gym. Burn your calories at 400 Fawcett then replenish at Doyles, Harmon Hub or Maxwells.
C Christine September 11, 2008
@ Altered chords.
Brilliant! I’ve been looking for a workout partner and I like the way you think.
Seriously,I can’t wait to hear more about crossfit. I’m looking to shake up my workout boredom. (I will grab an ale after any workout though.)
A altered chords September 11, 2008
@Christine – In the meantime, while we wait…Run Wright park – throw in some hills and drink 2 guinesses afterward.
My fee for this workout advice is 1 Manhattan.
M Morgan September 13, 2008
Ooh, cool, hey how did you learn about us? We’ll be moving in on October 1. We are entirely focused on results-based fitness. It’s not your typical gym, you come in, the trainer (Lisa or me) tells you the workout of the day, and you work through it in a group, usually for time. I promise you will get fit, and spend less time in the gym than you thought possible. Most workouts are 20 minutes or less.
Right now we’re leading classes out of our garage and are way excited to move into 411 Fawcett. Hope to see some of you there.
K kris September 14, 2008
I’ve been training this way for the last few months at the downtown Y with trainer Troy Nesby. It’s a great workout, if you are okay with your ass being kicked all over the gym, and strangely I am. Right Jessica?
C Christine September 15, 2008
Hot damn!! I’m getting more excited. I just got home from the gym and I need a shakeup. “yawn” Looking forward to the first of October.
Now it’s time for my post-workout G&T. The lime and quinine is just like gatorade.
J Jesse September 16, 2008
Hitchhiker: Listen to this: 7… Minute… Abs.
Think about it. You walk into a video store, you see 8-Minute Abs sittin’ there, there’s 7-Minute Abs right beside it. Which one are you gonna pick, man?
If you’re not happy with the first 7 minutes, we’re gonna send you the extra minute free. You see? That’s it. That’s our motto. That’s where we’re comin’ from. That’s from “A” to “B”.
Ted: That’s right. That’s – that’s good. That’s good. Unless, of course, somebody comes up with 6-Minute Abs. Then you’re in trouble, huh?
[Hitchhiker convulses]
Hitchhiker: No! No, no, not 6! I said 7. Nobody’s comin’ up with 6. Who works out in 6 minutes? You won’t even get your heart goin, not even a mouse on a wheel.
Ted: That – good point.
Hitchhiker: 7’s the key number here. Think about it. 7-Elevens. 7 doors. 7, man, that’s the number. 7 chipmunks twirlin’ on a branch, eatin’ lots of sunflowers on my uncle’s ranch. You know that old children’s tale from the sea. It’s like you’re dreamin’ about Gorgonzola cheese when it’s clearly Brie time, baby.