Condo sales picking up at Burien Town Square
May 03, 2012 :
Until recently, just 19 of the 124-unit Burien Town Square condominiums were sold. However, five more units have sold over the last two weeks, and more are scheduled to close shortly. That, according to the development's sales team of Tracey O'Brien and Stacy Phipps.
To help promote the development, they are making five "homes-of-the-month" available with no HOA (homeowners association dues) for the first year, ranging from a one-bedroom, 527 square foot unit at $132,950 to a two-bedroom, 1095 square foot unit at $278,950. That will save the buyer about $2,000 to $4,300 accordingly.
So far only one retail space is committed, SUBWAY, at the southeast corner of the building.
"Regarding the retail space, we have just relaunched bringing what I call uses that activate the community, and attract people to come to Burien, like restaurants, coffee shops, dog grooming, art stores," said John Tippins, Regional Director, ST Residential, the development's owner. He is currently in town from his Las Vegas office, and lent a hand at the development's booth during the opening of the Farmers Market May 3.
"Our goal is to tell everybody that the condos are for sale," he said. "Some think it is turning rental, but it is not. Once we hit about 30-percent sold, we will be able to offer even better financing than we now have.
We are going to implement a buyer's reward card for buyers linked to local retail businesses. We are looking at a bicycle program, supplying buyers with some bikes, and offering bocce ball.
"I've been going into markets, including downtown Las Vegas and Reno and generate interest that wasn't there before," he said. "To me everything is about culture and finding out what the community needs. Seattle as a whole is becoming hot in the real estate market that will push people into Burien in a good way. It's such a value compared to most of Seattle. There are big companies in Seattle that are growing and we are hoping to bring some of those people here."