Overview

Rising 39 stories above the corner of 8th and Olive, Olive 8 is one of downtown Seattle’s original hotel-meets-residence towers. The lower floors are home to the Hyatt at Olive 8, and the 229 condos sit above the hotel. That means even the lowest residential floors start well above the street, with views of Puget Sound, Lake Union, the Olympics, and the downtown skyline. Homes range from efficient one-bedrooms to three-bedroom penthouses, with floor-to-ceiling windows and open layouts throughout, and many have private balconies. We’ve followed this building closely since the developer’s auction days (we were on site covering it live), and it remains one of the most unique ownership experiences in the city.

If you want true lock-and-leave downtown living with hotel-level convenience, or you’re looking for a building with real flexibility on renting, Olive 8 belongs on your shortlist.

Our Take

The Good:

• Hotel Perks at Home: Living above the Hyatt gives residents access to hotel conveniences like housekeeping, valet, and room service. It’s a great fit for frequent travelers, part-time residents, and anyone who wants a home that runs itself.
• No Rental Cap: Olive 8 has no rental cap, which is increasingly rare downtown. That flexibility is a big plus for investors, pied-à-terre owners, and buyers who may relocate down the road.
• Resort-Style Amenities: The building has an indoor pool, sauna, yoga room, and fitness center, plus a rooftop deck with an outdoor kitchen, a resident lounge, a club room, a dog run, and 24/7 concierge. There is an extra monthly fee for use of the shared fitness center, pool, sauna, and yoga center.
• Walk-Everywhere Location: You’re steps from Westlake Center, the light rail at Westlake Station, and Pacific Place. Capitol Hill, South Lake Union, and Pike Place Market are all an easy walk away.

Things to Keep in Mind:

• No Rental Cap Cuts Both Ways: The flexibility is great for owners, but it also means more renters and more turnover in the building than you’d see in a mostly owner-occupied tower. A higher rental ratio can also matter for some loan types, so check with your lender early.
• Shared Building with a Hotel: Living above a hotel means a busier lobby and entry, and some building systems and costs are shared with the hotel. Ask how shared costs are split when you review the HOA documents.
• Downtown Core Energy: You’re in the middle of downtown, close to the Convention Center, so expect event crowds, traffic, and street activity that varies from block to block. Visit at a few different times of day to see if it suits you.