Archive for the ‘New Construction Complexes’ Category:

I just received an email from the sales team at the John Ross in the South Waterfront.  The units are sold out.  There are six resale units listed in RMLS.   It’s taken five years to sell through the 303 units.  Back in September of 2005 I wrote about who the buyer’s of the John Ross were according to an Oregonian article.  After two weeks on market more than 200 units had sold.  Then the market turned.   A great many of those deals didn’t close and the John Ross developers were amongst a few that said they were going to enforce earnest money deposits.  I never heard any follow up about how that turned out. (more…)

Real Estate Auction post graphic

Real estate auctions in the Portland area are no longer surprising.  The Atwater Place auction led the way last year with an auction that sold off 40 units in under 90 minutes.  The John Ross resisted for awhile by initially lowering prices and then holding their own auction of  luxury condominiums earlier this year. (more…)

If you are buying a new construction condo you may want to investigate when you will start paying the full HOA dues that have been quoted.  If the developer has not turned the HOA over to the home owners yet, the full amount may not be due- lower occupancy translates to lower utility bills for instance. (more…)

The John Ross graces the cover of this week’s Portland Business Journal.  2121 Belmont is on the cover of today’s Oregonian.  Neither story tells a happy tale.

2121 Belmont was built to be sold as luxury condos at the peak of Portland’s real estate market. Nearly nonexistent sales dictated a conversion to apartments but the income from the rentals is not enough to service the debt. The bank has issued a notice of default to the owners of the 123 unit building. (more…)

Accredited Marketing Partners has launched a new promotion for the South Waterfront’s Atwater Place Condominiums.  “Auction Prices” through November 15th according to the commercial on KGW.  The new website is www.atwaterplacesaleevent.com.  (more…)

It was all over by 5:30.  In 80 minutes, Accredited Marketing Partners sold 40 of the 41 Atwater Place South Waterfront condos on the auction block to a standing room only crowd.  I clocked the shortest auction at 31 seconds.  The longest was 160 seconds.  They move through a property, from brief description to “sold to bidder number [XXX]“, on average every two minutes!

The only unit that did not receive a bid was the penthouse.  First listed for $1,300,000 it did not garner the $899,000 minimum bid.  It was not the most expensive property available.  The previously offered at $1,539,000 unit sold for $897,000 (58% off asking and 128% of its minimum bid).  At the lower end, four units sold between $240,000 and $242,000 that all had minimums of $169,000. (more…)

My property search of the Portland’s South Waterfront shows 110 active listings in RMLS.  They range in price from $170,000 to $1,999,000.  Both units are in the John Ross. (more…)

There have been a lot of recent hits on the blog looking for information on the Wyatt. Culled from various sources on the web (primarily Skyscraperpage.com) we know the following:

The site is known as the Cronin Block
The condo complex to be named The Wyatt
15 stories – 244 condominiums
Pearl District/Hoyt Yards – NW 13th & Marshall St. The block next to the site is the home of the new Pearl District Safeway (which will be a mixed use space with residential space on top)
Completion: Summer to Fall 2007. I’d lean towards the latter.
Architects: Fletcher Farr Ayotte Architects
Developers: Robert Ball (more…)

The Wyatt is one of the newest towers going up in the Pearl District. The site is next to the Bridgeport Brewery at NW Marshal and NW 12th. I can’t tell you much more than that. The only instructive signage on the site is a banner that references www.thewyatt.com. The site has a front page with “coming soon” and no other information. (more…)

I visited both the John Ross and The Strand showrooms today. The John Ross was holding a Realtor’s open house and I wanted to see the models of the Strand to get a better idea of how the three buildings are situated on the lot. There will be some great views from the West Tower looking north towards the city and Willamette over the existing Riverplace development.

(more…)