Chinese company plans 42-story hotel-condo tower on Stewart

As Featured in the Daily Journal of Commerce

Written by Nat Levy

Image Courtesy of the Article

The article regarding the new condos coming to 1121 Stewart street reads, "Dean Jones, principal and owner at Realogics Sotheby's International Realty, said most lenders still view high rise condos as a tough sell. Lenders see high-end apartments as a safer investment than condos, Jones said, and that's why many of the condo projects planned or under construction now are financed with foreign money. Jones said more condos could be on the horizon. There is a bigger pool of buyers than a few years ago, he said, with empty nesters who want to move into the city and first-time buyers looking to move up, so investors are coming back into the market. 'I think that's important because everyone is targeting those Amazon workers because they are coming in droves,' Jones said. 'Realistically, many of those newbies to Seattle are more than likely going to rent for a year or two before they get comfortable with their jobs, the city and their environment, and are ready to lay down some roots and become a buyer.'"