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Sixth and Wall building will be condos, not rentals

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The project by California developer Laconia has been in development for more than a decade

Despite a glut of luxury apartment towers moving into Seattle, very few of them are actually the condos they appear to be—except when they suddenly switch it up. A 41-story tower coming up at Sixth Avenue and Wall Street, bordered on one side by Denny Way, will be condos and not rental units as originally planned. The building broke ground on Tuesday.

The project, now dubbed “Spire,” has been in the works since 2006, when California-based Laconia Development bought the property. Plans were ultimately abandoned during the recession, then picked back up in 2013, when it started winding through design review.

Located on a small, triangle-shaped lot, so is the building’s footprint small and triangular. According to the most recent design review deck, building amenities will include a “wine loft,” valet parking, and a roof deck.

Floor plans for level 23 and below—ranging from “open one-bedrooms” to two-bedroom, two-bath units from 520 square feet to 1,170—will be offered at between $450,000 to $1.6 million.

It grows from there: 24 through 37, ranging from one-bedroom to three-bedroom units from 550 to 2,000 square feet, will be priced between about $700,000 and $3.5 million. Penthouses will start at $1.5 million, with the biggest and fanciest going for more than $5 million.

Realogics Sotheby’s International Realty will be handing the project’s presales.

Hearing about “another condo building” is a frequent lament in Seattle—and while many of the new residential units are at out-of-reach price points, condo construction is actually pretty low. No new condo units became available in 2017, and as of this past March, units for sale were only 7 percent of downtown’s residential construction pipeline.