Investors crunch the numbers and talk to insiders to get ahead of the curve when planning to put their money down on something of high value. They anticipate what will be the next great investment before the rest of the market catches up – whether with commodities, fine art or real estate.
Savvy investors may wish to consider a long-term real estate bet right here in Seattle. It’s called Gridiron, a contemporary condominium that delivers proximity to live sports, historic connections to the city’s past and dramatic, Instagram-worthy vistas.
Gridiron is imminently unique. The brick-clad, steel and glass condo combines seven stories from the original Seattle Plumbing building circa 1903 with an additional five floors of modern living. It is the only triangular historic structure in the rejuvenating neighborhood of Pioneer Square.
What makes this place special is that it is the closest residential building to the sports stadiums – Lumen Field and T-Mobile Park. Gridiron is so close to the action that residents can easily hear chants from stadium crowds, the screech of ceremonial flyovers and fireworks, as well as the distinctive voices of live performers during stadium concerts when residents are enjoying the condo’s massive rooftop social space.
Amenities at Gridiron are centered around that 12th-floor expanse. It includes outdoor areas with 360-degree views, fireplace and BBQs, as well as a cozy indoor gym, gourmet kitchen with dining and lounge area, and private wine lockers. There’s also a 5th-floor garden terrace for peaceful getaways, as well as designated areas for your dog, and 24/7 lobby-level concierge support.
Gridiron is not new. It has been around since 2018 and about 85% of the 107-unit inventory is sold. That means opportunities remain today for people seeking a smart investment.
And what an opportunity it is. Seattle is about to complete an ambitious urban renewal along the waterfront from Belltown to Pioneer Square. The focus is on a new pedestrian bridge – Overlook Walk – that connects people from Pike Place Market down to the expanding Seattle Aquarium. The effort also includes improvements from ferry terminals on the south end of downtown and the addition of public spaces.
One of those areas taking shape is Railroad Way Park located just outside Gridiron’s front door. The hardscaped promenade will feature areas to casually socialize and hold organized events. The park will include young trees and wide-berth walking paths that allow ferry riders and tourists to seamlessly move from the waterfront to the stadium for games, concerts and other major events.
The location is ideal for fans of football, soccer, baseball and music. The address can be either a primary residence for new buyers or a weekend retreat for people living further afield. There are no limits on the number of rental units in the community and leases can be as short as three months. And speaking of community, residents hold regular social events with neighbors from the Florentine condos.
The building’s street-level commercial spaces are in development for food and drink establishments, complementing restaurants, pubs, galleries and an eclectic mix of shops within a short walk. The location is a 10-minute stroll to the city’s train and light rail stations and is ideal for drivers to hop on and off SR-99.
As of this writing, four units are listed for sale on the Northwest MLS. They include three on the 7th floor. For example, #701 is a comfortable 1-bed, 1-bath, 844 sq. ft. home with stainless steel appliances, quartz countertops and stunning west-facing views of the city’s busy waterfront and Olympic Mountains.
About another dozen homes have yet to be sold from the original inventory and are available through the builder’s sales team. In all cases, traditional buyers and investors should work with a condo specialist who knows the city, the community and the condo. Contact me with your questions about Gridiron and to schedule a visit.