Seattle Times Digs into Thornton Place Condo Issues

Thanks to the Seattle Times for digging further into why Thornton Place discontinued condo sales in, A year later, Northgate condos still all unsold:

But in mid-December, Ainge says, he noticed a suspicious half-inch gap between the wallboard and flooring in one unit. That touched off a chain of events that led engineers to conclude by mid-January that part of the project had a settling problem.

It afflicts 20 of the 109 units, Ainge says. They share a concrete base with Thornton Place’s parking garage, and apparently December’s cold snap caused the concrete to contract, leaving cracks and gaps in spots.

The developers notified the 18 first-phase buyers of the problem Jan. 26, Ainge says. Then, three days later, they learned the FHA had denied Thornton Place’s application for approval, concerned the project had more nonresidential space than agency rules allow.

After that one-two punch, Ainge says, the developers decided to give the buyers the opportunity to back out of their contracts. The FHA reversed itself and approved the project a few weeks later, but by then most of the buyers had rescinded their offers, Ainge says.

As for their apartment units, they’re 94% leased.

Bonus link: Icon Grill facade falls off and injures three.

About Matt

Matt , Urbnlivn's publisher, has a love for lofts, floating homes and mid-century moderns.

For years Matt resisted becoming a real estate agent preferring to be an executive in the startup world but he recently caved in the spring of 2014 and became an agent.

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  • seattlesavvy

    Wow! It's been a year!? Friend of mine at Site 17 said he just got an assessment for $33k ($4 million) because of concrete issues.