With recent press coverage in the Wall Street Journal and in the Seattle Times, the $120 million Four Seasons Seattle project remains a prime example of robust condo hotel development, even in a soft housing market. From the developer’s perspective, selling condo units helps financing the land and construction. For the buyer, condo hotels offer luxury amenities managed by prominent brands.

Consequently, these projects are finding their way into urban neighborhoods that are sometimes under gentrification (as witnessed by the strip-club neighbors by the Four Seasons Seattle). Revitalized urban neighborhoods are attractive to the affluent for their convenience and city environments. In Seattle, owners have the opportunity to buy luxury properties in the $2 to $10 million range, and to be near the historic Pike Place Market, the Seattle Art Museum and Washington Mutual’s new headquarters.

Local residents who live outside of the city can trade gated-community living for an amenity-rich lifestyle within the urban fabric of downtown. Think: trading manicured lawns for cityscape panoramic views and nightlife. It’s no wonder then that nearly all the buyers have been from the local Seattle area, just as the Ritz-Carlton Club in San Francisco was sold primarily to area residents.

Mini Guide to Condo Hotels

• Part 1: Condo Hotels Explained
• Part 2: Financial Analysis
• Part 3: Brands and Projects
• Part 4: Key Questions