I bought and moved into a condominium on Seattle’s Capitol Hill in the summer of 2012. At a time when most properties on the Hill sold within a week or two, my home was on the market for a month. I suspect that many buyers were scared off by the construction site next door where Alturra, an aPodment building, was under construction.

I toured Alturra shortly before it opened in November 2012. The units ranged from extremely small (90 square feet) to small and inconvenient (a 200-square-foot, 4-story walkup). They were priced from $600 to $1,200 a month including utilities and Internet and they rented very quickly. The minimum lease of 3 months made them attractive for transplants and temporary residents. Many of my neighbors were skeptical that Alturra residents would be a good addition to my neighborhood. Continue reading →