40-story residential tower to rise near Seattle’s Pike Place Market

The Emerald is set to be Seattle’s newest luxury condominium building, rising 440 feet above Pike Place Market and the Puget Sound. In addition to the residential tower, The Emerald will also include two ground floor retail spaces.

The development will comprise 265 studio, one-, two-, and three-bedroom residences and penthouses divided into three collections: the Penthouse collection, the Panoramic collection, and the City collection. The Penthouse collection offers an elevated finish package and floor-to-ceiling windows with views of the Seattle skyline. The Panoramic collection occupies the middle and upper floors to provide the best views, and the City collection offers homes with refined finishes and open floor plans with views that range from cityscapes to the Pike Place Market and Seattle waterfront.

Emerald entry and lobby

Building amenities will include a full-floor rooftop Olympic Room, a double height glass encased club room that opens to the Puget Sound and Olympic Mountains. The Olympic room will feature indoor/outdoor lounge space and firepits.

Interior of the emerald's Olympic Room

A third-floor amenity space includes an outdoor pet run, a pet spa, a fitness center, and a chef-caliber catering kitchen. Residents will be offered on-demand access to Tesla Model X and Model S vehicles. The Emerald will also become the first building in Seattle to use Latch keyless technology for an efficient and secure flow throughout the building.

Homes are selling now with prices ranging from $500,000 to $3 million. The building is slated for completion in summer 2020. Hewitt Architects is the architect with Create World Real Estate and Daniels Real Estate as the developers. Susan Marinello Interiors is the interior designer.

North terrace at the Emerald

Emerald fitness terrace

Waterfront skyline with the Emerald

Across the country, multifamily rents have skyrocketed. Year-over-year rents are up by double digits in nine of the top 30 markets, while national YoY rent growth is up 6.3%. Emerging from the pandemic, a perfect storm of migration, enhanced government stimulus and a hot housing market, among other factors, has enabled this extremely strong growth.