The recently completed Trio project started moving in home buyers this month. The project is almost 50% sold. During the initial launch, Trio did not get much attention from Realtors and homebuyers. This was largely due to what many people considered unrealistic pricing. Since then, the developer has made some price adjustments which are more in line with the market. Ironically, they probably ended up making bigger reductions than they would have had to had they launched with more reasonable pricing to begin with. (Of course, such observations are always easier in hindsight.)
I had been to the construction site a few times for hard hat tours last year but decided to take another look this weekend now that it’s done. Here are a couple of oberservations during a recent visit this weekend:
– The common areas (e.g. club room, roof top deck) turned out nicer than I expected compared to other wood-framed condos in Belltown, especially compared to the Matae (which exterior looks similar to Trio from the outside).
– One floor plan that is worth checking out is their northeast facing unit which has a outdoor deck right off the living room. You don’t get much of a view but the generous outdoor area maybe a nice hangout when you have friends over.
– The developer is offering incentives such as Plasma TV and furniture when homebuyers purchase a unit. On top of that, they are also offering a price guarantee to new homebuyers. Looks like developers are starting to pay attention and follow suit after the recent announcement of Olive 8’s pricing guarantee.
Overall, Trio is a decent condo with a slightly better amenities that its competitors. If concrete and steel prices are out of your budget and you prefer to be close to a park, this project is worth a look.
I just wonder who is going to buy the unit on the northwest corner which is about 8 feet away from the streetlamp on Denny. Unbelievable that they’d actually put a unit window right there.
What are some good concrete and steel framed condos in the Belltown/Queen Anne area?
Interesting read Wendy. Does this mean developers might be getting antsy?
What are other steel/concrete condos in Belltown/Queen Anne where I might find a 1BR+den/2BR for $400-500K? Thanks!
Here is a list of concrete and steel condos that I really like.
– Concord http://www.seattlecondoreview.com/2007/01/located_on_the_.html
– Cristalla http://www.seattlecondoreview.com/2006/06/escala_cristall.html
– Mosler Lofts
Sam, feel free to send me your email address and I’ll be happy to send you a list of condos that matches your criteria.
I’m not sure if this price guarantee should be taken as an act of desperation or a display of confidence? While Seattle’s economy looks to remain strong for the foreseeable future, it doesn’t look like condo prices can go anywhere but down considering the abundant supply and how high they already are.
By the way Wendy, after Concord your links above don’t work, I think because of the closing parenthesis being part of the link.
Thanks Amir. Updated the links.
Wendy, this price guarantee wouldn’t apply to the Trio units on MLS would it?
Last I checked, Trio had 43 sales to date out of 116. That would be 39%.
Yes, it would apply to units on the MLS.
I agree the interior looks good, but I noticed there is a lot of noise from perhaps the fans??? I’m glad my building doesn’t buzz like this. Is this due to poor construction?
Interesting, I never noticed the noise.
I’m not sure about the quality of the construction..however, before you make a commitment to the TRIO, have a friend walk on the hardwood floor in the unit above. It’s surprisingly noisy.
I noticed that Trio’s MLS listings say “Cement/Concrete Exterior” and “Metal/Vinyl Exterior”, nothing about wood-frame or stucco … what gives?