News

$20 Million in Sales Made in Two Hours During Atwater Place Auction

Portland, OR (Sunday, Sept. 20th, 2009) – On Sunday, September 20, Accelerated Marketing Partners (AMP) successfully sold 40 units during a two-hour real estate auction for Atwater Place Condominiums (Atwater Place), a 23-story luxury condominium development located in the South Waterfront District of Portland, Oregon.

“With the exception of one penthouse unit, everything offered for sale during the Atwater Place auction was sold for 30 percent to 40 percent off original prices,” said Ken Stevens, co-founder and west coast chief executive officer of AMP.

Two hundred fifty interested buyers attended the event, which was held at the Marriott Portland Downtown Waterfront. Prices generated resulted in a great opportunity for homebuyers to purchase homes at a significant discount as well as providing ownership with a one-day event that resulted in approximately $20 million in sales.

Previously priced up to $379,000, one-bedroom residences had a minimum selling price of $169,000. Two-bedroom garden view residences, which were originally priced up at $579,000 had minimum selling prices starting at $269,000. Two-bedroom river front residences, which were originally offered at $1.5 million, started at $699,000.

Located in the South Waterfront District, Atwater Place is a modern glass sculpture situated along the river’s edge. The location offers a short, two-block walk to the streetcar system and community park, as well as easy access to restaurants, services and shops offered in this emerging neighborhood. Just outside the front lobby runs a riverfront walkway and The South Waterfront River Greenway.

Designed by nationally recognized architect Thomas Hacker, Atwater Place features large floor plans and premium finishes, including engineered hardwood flooring, wool carpets, and granite and quartz countertops. Many homes are upgraded with Sub-Zero refrigerators and Viking appliances, while bathrooms feature marble and limestone countertops. Dedicated recycling stations and waste receptacles are located on every floor.

All units feature floor-to-ceiling windows and a balcony or terrace, which showcase picturesque views of Ross Island, Mt. Hood, the West Hills, city lights and the Willamette River.

In addition to 24-hour concierge service, residents have access to a large community room for private events, which features a kitchen as well as sitting and dining areas that open to the courtyard. A private, landscaped courtyard with bocce ball court and outdoor seating area gives residents additional space for entertaining.

A LEED Gold certified building, Atwater Place features a number of sustainable practices such as eco-roofs, efficient irrigation of bioswales incorporated into the natural landscape, high efficiency glass window systems and the use of low emission materials for better indoor air quality. Low-flow devices are utilized in each home, which effectively reduce water consumption. Energy Star appliances and other energy saving features are expected to provide residents with more than a 30 percent energy reduction over code requirements. Renewable building materials, such as agri-fiber doors, agri-fiber casework, wool carpets and linoleum, are used throughout Atwater Place. Native adaptive plants are incorporated into the development’s landscaping to ensure limited consumption of water resources.

Atwater Place enjoys a variety of transportation options in the immediate vicinity, encouraging less car dependency and a more sustainable lifestyle. The neighborhood features over six options, including the country’s first commuter aerial tram to be built since 1976. Combined with the streetcar, a 40-mile bike path loop and three Zipcar spots, the variety of transit options means less need to use a car.

“The success of the auction is due to the fact that Atwater Place is a trophy building,” said Stevens. “Buyers got a great value on a premier building and a one-time opportunity to set their own prices for a high-end riverfront home.”

A new sales release of homes will be announced shortly with new pricing levels established at the auction. For more information on Atwater Place, please call (888) 818-8186 or visit www.AuctionAtwaterPlace.com.