Last year, InHaus Development found success in the Ballard condo market with Solo Lofts. And so, they decided to up the ante and build Salt Condos with an eye on an early 2015 opening. It's safe to say we're past "early 2015" at this point and it appears now we know the reason Salt hasn't licked the Ballard condo competition yet. Per Urbnlivn, the never-ending construction boom coupled with rising builder premiums has caused InHaus to switch gears and turn Salt Condos into Salt Apartments. As PSBJ notes, this was a move common in the Great Recession when the market crashed but it's rather shocking right now considering the shortage of condo inventory around town. A rep from InHaus told reporters that they had signed leases on seven Salt condos before the switch. Salt Apartments will include 38 units ranging from one-bedroom to three-bedroom with plans to begin pre-leasing next year.
· Ballard's Salt Condos is now Salt Apartments [UL]
· Developer shifts gears on Ballard condo project, goes with apartments [PSBJ]
· InHaus Hoping 'Salt' Licks the Ballard Condo Market [CS]