A few months ago I mentioned the Springs Living Development going in on Block 18 of the Waterfront. This project took a giant leap forward last week with the CCRA review of the project. This will be one of the most spectacular retirement communities in the entire metro area. A 12 story luxury tower perched right on the shores of the mighty Columbia River offering wonderful views of the water and the High Cascade volcanoes.
Washington's no income tax status helps retirees and this project should be able to attract people from all over the west coast. 250 units are expected and just about every amenity one could ask for. Of course a very short walk to the center of the Waterfront is a nice bonus.
Last year Washington State reduced the amount of excise tax paid on homes valued at less than $500,000 but took it out on those with larger more expensive homes above $1,000,000. This is designed to help people and in particular fixed income seniors at the entry level housing but could put a wrinkle in the plans of those sitting on larger properties. Check out the Washington State graduated excise tax below. There is a minor variable from county to county as the local excise tax is NOT included on the chart below. The local excise tax is 0.50% and the local amount in other counties varies between 0.25% and 0.75%
