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Marselle Raises Prices

February 24, 2010 By 7 Comments

As other buildings go to auction Marselle is raising prices:

Unit 204 went from $389k to $399

Unit 313 went from $399k to $439k

Unit 315 went from $299k to $309k.

There’s also been another listing that has increased it’s price recently. 1120 17th Ave #101 went from $274k to $277k.

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Matt , Urbnlivn's publisher, has a love for lofts with industrial features and new construction condos that is only eclipsed by his passion for outdoor sports and urban living. Phrases such as “polished concrete” and “exposed brick” are music to his ears. You can also find Matt on Twitter or skiing.

  • Chris

    Who would pay that much to live right next to Aurora?

  • cameronrex

    Can't imagine. But maybe they are betting on the viaduct replacement going through as planned. I think when its done a new lid will have Marselle looking at a new green park (a new lid on that part of Aurora). But as that is not firm and years away I don't know who would risk it by buying there.

  • phil

    The tunnel is coming out further north and west. If they close Battery St Tunnel as planned, that road section pretty much goes away, unless used for local traffic. John St will reconnect east-west giving much better access to the surrounding neighborhood. Denny Park would now be just a block away, and Whole Foods about 4.

    Of course it's still a gamble that the tunnel will go through as planned, with odds probably well in favor.

  • phil

    In case anyone is interested, here's the tunnel project map – http://www.wsdot.wa.gov/Projects/Viaduct/boredtunnelma...

  • lulo

    I've never seen a rendering of tunnel designs showing a new green space lid. The most current renderings (I believe there are 2-3 options) produced by the WSDOT show the tunnel aligning in all versions with Aurora. Phil is right that it will be further North by 2 – 3 blocks. Check out this WSDOT video where you can see Marselle in relation to what the Denny/Aurora/John grid will most likely look like: http://www.youtube.com/watch?v=rgtOTMJt-AI (skip ahead to 3min:09sec)

  • Condo Daddy

    It all boils down to desired absorption. 20 sales in the last six weeks is their claim. That is 3.3 sales per week. That seems like good not great absorption. My prediction is that sales will come to a crawl, down to 1 per week with price increases. Now if they were at 6-8 sales per week, then I'd raise prices. As far as people buying because of a potential lid, prices for condos abutting the viaduct didn't go through the roof and some of those would offer a spectacular difference. The location of Marselle, is not ideal. It wouldn't have even been permitted if it wasn't done so in the height of the market.

  • Condo Daddy

    It all boils down to desired absorption. 20 sales in the last six weeks is their claim. That is 3.3 sales per week. That seems like good not great absorption. My prediction is that sales will come to a crawl, down to 1 per week with price increases. Now if they were at 6-8 sales per week, then I'd raise prices. As far as people buying because of a potential lid, prices for condos abutting the viaduct didn't go through the roof and some of those would offer a spectacular difference. The location of Marselle, is not ideal. It wouldn't have even been permitted if it wasn't done so in the height of the market.