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95 Condos Coming to 1121 Stewart St

By May 10, 2014

South Lake Union

RBF condo hotel_big

We’re a few days late on this news, but there are 95 condos coming to 1121 Stewart St, Chinese company plans 42-story hotel-condo tower on Stewart:

RBF Property Group, which says it is based in Guangzhou, China, with an office in Seattle, recently filed plans for a hotel and 95 condos in a skinny 440-foot tower. The building will have 9,500 square feet of retail and restaurant space, and underground parking for 150 vehicles and 88 bicycle stalls.

Interesting to note that lenders are still favoring apartments considering just how many have been built:

Dean Jones, principal and owner at Realogics Sotheby’s International Realty, said most lenders still view high rise condos as a tough sell. Lenders see high-end apartments as a safer investment than condos, Jones said, and that’s why many of the condo projects planned or under construction now are financed with foreign money.

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