Picture above: SPIRE’s newly released penthouses, the likes of which Seattle had never seen.
The Puget Sound Business Journal said northwest newcomers are spurring a new luxury market.
It’s been a year since Laconia Developments announced their decision to sell luxury condominium homes for individual ownership at SPIRE while downtown filled itself with rental buildings. It was a bold, trailblazing decision that resonated with the real estate market, and others quickly followed suit after Laconia pioneered a new standard of luxury-high-rise living for Seattle that had previously never existed.
Last Friday, the Puget Sound Business Journal featured a new trend in Seattle: an influx of new residents from major cities such as San Francisco, Los Angeles, and New York City are building an increased demand for luxury condominiums. With Laconia ahead of the game, having already broken ground in June and building at a rate of one floor per week, interested homebuyers are setting their sights to SPIRE, which will have the earliest occupancy of a new luxury development in late 2020. And with 25 percent of the condominiums already pre-sold, those new arrivals to Seattle have been encouraged to act quickly.
In the midst of incoming competition, SPIRE still takes the crown on supplying elevated lifestyles that are a cut above the rest. In the planning phase of the 41-story tower, Laconia decided to eliminate one floor from the plans to enable market-leading ceiling heights—ranging from nine to ten feet—with maximum glass coverage for a wealth of natural light and openness. They also combined several units to produce larger floor plans up to four-bedrooms at a total 2,635 square feet and even larger living spaces.
The PSBJ pointed to SPIRE—erecting on an enviable perch at the northernmost lot in Belltown before a down-zone to 85% that provides enduring views from South Lake Union, the Space Needle, and Elliott Bay—as the noteworthy golden standard of Seattle’s new trend of luxury, noting that its condominium estates target “affluent buyers looking to upgrade, […] as well as downsizing empty nesters and retirees seeking more space.”
Read the full article in the June 14, 2019, Puget Sound Business Journal.