Community Spotlight: Shorewood

Before I dive into the spotlight this week, activity in the urban condo market was mixed with sales and new listings keeping things about the same on inventory levels. Activity was modest in volume but encouraging considering the time of year.

Shorewood: what is it? Shorewood is a large campus style condominium project that dates back to the early 1970s. There are eight buildings on the campus including the clubhouse. There is also a newer apartment complex next door to the west also called Shorewood but it is a separate campus and contains only rentals. At the north end of the project along Evergreen Blvd are two 4 story apartment buildings. At the east end are three 4 story condo buildings with interior hallways and exterior carport parking. The west end features two 7 story towers with enclosed garages on the first floor and units on the 6 floors above. The last tower at the west end was erected in 1984. In 1998 Shorewood submitted plans to erect an 18 story tower on the site. The city at the time was all-in but the FAA wasn’t having it as the tower was right under the flight path for Pearson Field.

Shorewood is a bit dated now with all of the buildings in the 40-50 year age range. These however, are larger units than most modern projects with one beds having some 900 SF and the two bed units exceeding 1200 sf and more. Many of the units in this project offer views out over the Columbia River. Some units in the two taller towers at the west end offer enclosed patio sunrooms with retractable windows for all season enjoyment.

Shorewood has an impressive array of community amenities including a spacious clubhouse with billiards and darts and other fun activities as well as an indoor/out swimming pool with a retractable roof for all season swimming. Shorewood is located in the upscale suburban hillside neighborhood of Evergreen Highlands and has easy access to the SR14 freeway. It is however a bit isolated and feels more suburban than urban. The community does have retail shops within the developments including a small store, cafe, and a hair salon among others.

The neighborhood is quiet as far as traffic and general business is concerned, but there will be some freeway noise and jet noise as it is in close proximity two both Pearson Field and PDX and is perched on a bluff overlooking SR14 freeway and the River below.

Views from Shorewood feel like hi-rise views due to the bluff location From the 7th floor the height above the river is about 200 feet which has the feel of about 18-22 stories. Shorewood is still one of my favorites because cosmetically dated units can be found under $300,000 and that’s a value opportunity. Shorewood offers an urban feel in a suburban environment that splits the difference and for some, that could be ideal.

Pros and Cons to Shorewood:

Some units have views of the river Most views are at a 45º angle or peek-a-boo
Some units have deeded garage spaceMost parking is carport and exposed to weather
Local on campus stores and servicesLess convenient to activities and attractions than other urban condos
Easy access to three freewaysFreeway and Airport noise well above average
Adequate free guest parking on siteno-cons
Reasonably quiet neighborhoodA little disconnected from Downtown and Columbia Shores
Units are larger and well priced against peersUnits are often cosmetically dated
Surrounding neighborhood is high end SFHno-cons

So there it is Shorewood is a solid option for a value condo with some nice views.

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