Solis Converted from Condos to Apartments
The yet-to-be-completed building named Solis on Capitol Hill at 1300 E Pike was to be a condo building completing in 2020 but will now be an apartment building. This is a little surprising given how many reservations they had, but in this wild real estate market, nothing is surprising any more.
In August 2018, SOLIS was first introduced for reservations, with approximately half the units placed under contract at prices from the mid-$400,000’s to the high $900,000’s. Reservations had since been placed under Purchase and Sale Agreements, however under the terms of the contract, the developer reserves the right to cancel the presale at their discretion.Press release
Solis is the first purpose built condo to go apartments this cycle (someone correct me if I’m wrong!)