Nexus Seattle Breaks Ground, Releases Units

This morning, in the rain of course, Nexus Seattle ceremoniously broke ground at 1200 Howell on on their 382-unit condo project in the Denny Triangle (or East Village as they’d like to re-brand it). Below are a few photos from the event where those involved from Nexus, including the Vancouver developer Burrard Group, local architect, Weber Thompson, builder, Skanska, and of course the sales team, Realogics SIR were on hand.

Nexus is scheduled to complete in mid-2019, joining a number of new towers dotting Seattle’s skyline. Below are a few photos were I tried to capture the site and how it fits in with the existing towers as well as the ones under construction.

Nexus is one of 3 or 4 condo buildings under construction right now. Gridiron and Hendon will both complete this year. U-Place, we’re unsure of when it’ll complete. Urban Green Village just broke ground, but we’re not sure it’ll be condos as promised. And then we have Nexus in 2019. That’s it! All the rest of the cranes you see are building apartments or office towers.

Nexus also posted a number of units to the MLS ahead of the grand opening this weekend. It looks like their most affordable unit after the reservation holders grabbed what they wanted is $479k.I won’t be surprised if those who missed out on the first release of units last June, camp out Friday (in the rain!?) to try and grab it.

$359,950 – #804 – 0 bed, 1 bath, 375 square feet
$479,950 – #2403 – 0 bed, 1 bath, 458 square feet
$649,950 – #2305 – 1 bed, 1 bath, 607 square feet
$649,950 – #2007 – 1 bed, 1 bath, 711 square feet
$679,950 – #2513 – 0 bed, 1 bath, 683 square feet
$999,950 – #3002 – 1 bed, 1 bath, 936 square feet
$1,049,950 – #1911 – 2 beds, 2 bath, 1,032 square feet
$1,099,950 – #2809 – 1 bed, 1.5 bath, 898 square feet
$1,099,950 – #1908 – 2 beds, 2 bath, 1,040 square feet
$1,149,950 – #2901 – 2 beds, 2 bath, 1,012 square feet
$1,399,950 – #1803 – 2 beds, 2 bath, 1,211 square feet
$1,699,950 – #2700 – 2 beds, 2 bath, 1,347 square feet
$1,799,950 – #3601 – 2 beds, 2 bath, 1,327 square feet
$2,195,950 – #1905 – 2 beds, 2.5 bath, 1,732 square feet
$2,199,950 – #3810 – 3 beds, 2 bath, 1,518 square feet

I had a client with a reservation on #2007 who didn't move forward. Interesting to see they raised the price from $20k from what they offered it to reservation holders. Few things to note:

• Dues are $0.82/sf: Nexus HOA dues are $0.82/square foot/month putting it significantly above pricing at previous new projects like Insignia and Luma (though their dues are likely to rise over the coming years). So as you decide if you a Nexus condo is right for you, be sure to consider your monthly dues as part of your calculus.
• Having an agent help: If you want an agent to help you buy at Nexus, they'll either need to register you ahead of time or you'll need to bring them along to the sales center with you.
• 10% earnest money: unlike primary reservation holders who only had to put down 5%, new buyers will need to put down 10% of earnest money to secure a unit.