Marselle condominiums is the latest addition close to the South Lake Union, Downtown and Belltown neighborhood on 699 John St. This 7-story, wood-framed building will hold 132 units with the smallest unit starting at 347 square feet to the largest ones at 1,740 square feet.
The building will offer a variety of floor plans from studio, one bedroom with den, two bedroom and a penthouse level including 10 2-level homes. Marselle pricing is expected to average around $475/square foot. Studios will start at under $200,000 and go up to $600,000's.
Each home will include one parking and storage unit. Interior will feature natural walnut floors, slab granite countertops, and stainless steel appliances with many homes coming with an island kitchen.
Amenities: 3 rooftop decks, dog patch, fitness center, yoga space, and resident lounge.
The project is scheduled for completion in summer 2009 with the sales center probably opening up sometime in January/February of 2009. The developer's goal is to produce a condominium with equal or better finishes compared to other projects but at a lower price point than any other new construction in Seattle. The location was picked because of it proximity to downtown and the Seattle Center; the biggest reason was probably the price of the land. So far, 21 homes have already been sold to the developer's family and friends.
Even thought the location is close to Belltown, South Lake Union, and Downtown, the building is situated at the busy area of Aurora Ave. This would add more traffic to the already congested Denny Way. However, on the other hand, if home buyers can get it at a very affordable price point, this may be seen as a fair trade off.
Moda: Small, smaller, smallest
Does anyone know if this project is on track? (With so many price drops bad weather and the switch to rentals)
My concern is that Frontier was suppose to obtain fiancial backing to this project and is losing there fiancial backing from an East Coast Company. Frontier stock drop 24% today and the company has to find capital to secure its dept to commercail lending. Check out Puget Sould Business Journal last friday.