Vibrant Cities Launches Sales for Alki Beach Luxury Condos
May 12, 2021
"Sales on the 37-unit Infinity Shore Club Residences condominium on Alki Beach recently launched, and five units are already under contract. James Wong, CEO of Vibrant Cities, which is developing the project, expects the 102,000-square-foot project to be complete in October."
“Right now, we are feeling pretty good,” he said. “We are getting the prices that we are asking.”
The project started right about the time the pandemic began. Shortly after groundbreaking, construction shut down for a couple of months due to Covid-19 restrictions. The work stoppage and commodity price increases — for materials including wood, steel and oil — added about 5% to 6% to construction costs, Wong said.
The development is delivering at a tenuous time for condominium sales in Seattle. Laconia Development recently relaunched its sales at Spire, a 41-story condominium tower near the Space Needle. Laconia is temporarily lowering its asking prices for units by as much as 10% after the Covid-19 pandemic depressed demand in 2020.
Wong doesn’t expect this project to be affected in the same way since it isn’t situated in Seattle’s main core and is one of the few waterfront condominium options.
The decision to develop in West Seattle was personal, he said. Wong attended middle and high school in West Seattle, so to him developing in this area is the fruition of a longtime dream.
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