The Emerald, a 40-story condo at Second and Stewart Street, joins a growing list of luxury condo projects in downtown Seattle.
The 265-unit residential tower features studio to three-bedroom and penthouse units, with prices ranging from $500,000 to more than $3 million. The project, which was developed by Daniels Create World Seattle, Julia Nagele, principal and director of design at Hewitt Architects, and Susan Marinello Interiors, is slated to open in the summer of 2020.
The project joins a growing list of luxury condo projects coming online in the greater downtown area, including The Koda in the International District, Solis in Capitol Hill, First Light in Belltown and Spire in Denny Triangle, according to a market report by Polaris Pacific, a residential real estate sales and marketing company based in San Francisco, but with an office in Seattle.
All told, 1,746 condo units are under construction throughout Seattle. It would take three months to fill the current supply of vacancies. Six months is considered a balanced market, which points to a growing and robust condo market in the city.
"Downtown is a hot market for both condos and apartments," says Josh Nasvik, vice president regional manager at Polaris Pacific. " So many people are tired of commuting and want to be within a walkable distance to work."