Bravern turns one condo tower into rentals

As Featured in The Seattle Times

Written by Eric Pryne

Image Courtesy of The Seattle Times

"'Almost no new condo projects are under construction or in the pipeline in downtown Seattle or downtown Bellevue. When the market for condos does recover, developers who have converted their buildings to apartments will be poised to switch them back and capture that demand,' said James Stroupe, a condo specialist with Realogics Sotheby's International Realty. ‘Let's face it — these guys don't want to hold product,’ Stroupe said. ‘They're just biding their time.’"