Marselle – new condominiums in Downtown Seattle.
Marselle Condominium completed its construction in 2010 in the midst of the worst housing recession in modern history. When the team at Matrix headed by Warren Ballard began work with the developer in 2008 to create the unit mix, product type and marketing strategy the market was just beginning its downturn. As housing started its downward spiral, the team realized we would be launching the project in the midst of the downturn.
The local developer decided to continue as a condominium while many others were handing their projects back to the bank or converting to apartments. Given the difficult situation, the team needed to first convince buyers to step into the market and then convince them to make Marselle their home of choice.
The location is right on Aurora which is very noisy but the homes on the Aurora side also offered the best views of Lake Union. We marketed the views, the location close to South Lake Union, downtown and Queen Anne and the excellent finishes. We found our market in the young professionals who wanted to be in the city and we were able to appeal to them with high-end finishes and an array of good floorplans to choose from.
As condominiums around us either went apartment, were lost to the bank or held auctions, this team stuck it out together. Matrix worked closely with the developer to keep the prices consistent and to sell slowly but surely. We worked with a very efficient marketing budget, with very little paid advertising, by using e-mail marketing, broker outreach, blogger outreach and social media as well as networking with agents and buyers throughout the Matrix system.
By keeping an eye on the market and buyer activity and staying consistent during the downturn, Matrix helped the developer market Marselle from before the first sale until the last closing was final in 2012.