Seattle Condo Authority Network · Belltown
459-unit new construction condo tower at 2000 3rd Ave, completed in 2024. Seattle's newest large-scale residential tower with rental-friendly policy.
Belltown · Seattle
| Building Name | First Light |
| Address | 2000 3rd Ave, Seattle, WA 98121 |
| Neighborhood | Belltown, Seattle, WA |
| Year Built | 2024 |
| Total Units | 459 |
| Stories | Data to be verified |
| HOA Fee Range | $700–$1,500/month |
| Rental Policy | Rental Friendly |
| Pet Policy | Pets Allowed |
| Amenities | Full amenity package, fitness center, rooftop terrace, concierge |
| Parking | Secured garage parking available |
First Light is Seattle's most recent major condominium tower, completing construction in 2024 at 2000 3rd Ave on the Belltown edge of downtown. With 459 residences, First Light is the largest new condo delivery in Seattle in several years and represents a significant addition to the city's ownership housing inventory. The 3rd Ave address positions residents at the crossroads of Belltown and the downtown retail core.
First Light's rental-friendly policy sets it apart from many of Seattle's established buildings, making it accessible to investors and buyers who want flexibility. The full amenity package includes a fitness center, rooftop terrace, concierge service, and secured garage parking. HOA fees ranging from $700 to $1,500 per month reflect the building's new construction quality and comprehensive service level.
For buyers seeking new construction with no rental restrictions in an established urban location, First Light is the most significant opportunity in Seattle's current condo market. Contact Jeff Reynolds for current listings, floor plans, pricing, and HOA documentation at First Light.
Buyer Analysis
First Light is Seattle's newest large condo tower—459 units completed in 2024 at 2000 3rd Ave in Belltown. As a rental-friendly building with a brand-new HOA, it occupies a unique position in the market. Jeff Reynolds's assessment covers the building's advantages and the specific cautions that apply to any new construction.
First Light delivers the latest building systems, materials, and design standards. Construction warranties are active. There are no deferred maintenance cycles to inherit and no 15-year-old mechanical systems approaching replacement.
First Light does not restrict rentals, which is increasingly rare among Seattle's larger condo buildings. This gives buyers maximum flexibility: owner-occupy today, rent later. The rental policy is a meaningful differentiator against rental-restricted competitors.
As one of Seattle's largest new condo buildings, First Light will generate substantial comparable sales data quickly. Resale liquidity will be strong and appraisals well-supported as the building's transaction history accumulates.
North Belltown at 3rd Ave is steps from the Olympic Sculpture Park, waterfront, and Belltown's primary amenity corridor, while being set back from the noisiest stretch of 1st Ave.
The reserve fund is just beginning to accumulate. Buyers are relying on projections and the developer's initial reserve contribution, not on 10–15 years of demonstrated HOA financial performance. This is inherent to any new building.
$700–$1,500/month HOA fees reflect the full-amenity, full-service model of a 2024 tower. Model total carrying costs carefully against your budget.
In the first 1–3 years, new buildings work through construction defect resolution and punch-list items. Verify that your specific unit's punch-list has been fully resolved by the developer before closing.
Is the rental-friendly policy codified in the CC&Rs or subject to HOA vote? Confirm how protected the current policy is from future restriction.
What is the initial reserve contribution from the developer and what is the HOA's current reserve fund balance and monthly contribution rate?
Advisory
First Light attracts buyers for whom new construction, rental flexibility, and Seattle's newest building amenities are the primary purchase criteria.
First Light is complete and delivering. Buyers who want 2024 construction standards without the timeline uncertainty of buying pre-construction or off-plan get the building they expected at the price they committed to.
The rental-friendly policy makes First Light one of Seattle's most attractive condo buildings for investors. Buyers who want to owner-occupy now but retain the option to rent later—or who intend to rent immediately—will find First Light's policy rare and valuable in Seattle's current market.
The building's 2024 amenity stack is calibrated for how Seattle's professional class actually lives: co-working spaces, fitness facilities, curated social amenities, and building technology. Buyers who have toured 2009-era buildings and found the amenities dated often find First Light's offering distinctly current.
Some buyers have a clear preference for new construction finishes, new systems, and a building without the accumulated wear of 15–20 years of occupancy. First Light is the only building in Belltown that satisfies that criteria in 2025–2026.
Market Data
First Light is in its initial resale phase, with developer sales and early resales establishing the building's pricing baseline. As a 2024 delivery, the range reflects new construction pricing.
Entry-level new construction Belltown pricing. Lower floors anchor the range; mid-tower units with partial water views move toward the top.
Primary resale segment as the building's transaction history grows. Upper-floor units with Elliott Bay or Olympic Mountain views command meaningful premiums.
High-floor units with panoramic views represent the top of First Light's pricing range. These units are the most directly comparable to other Seattle luxury towers.
First Light is establishing its comparable sales base. Early resale pricing will be heavily influenced by developer pricing discipline and initial buyer demand. As the building's transaction history grows through 2025–2027, comparable sales data will become more robust. Contact Jeff Reynolds for current listings and early resale data.
Knowledge Base
Before buying any Seattle condo, these guides answer the questions every buyer should resolve about HOA finances, financing eligibility, and closing requirements.
What condo HOA fees cover, how they're calculated, and what to look for in a building's fee structure.
How reserve funds work, what percent-funded means, and why the reserve study matters before you buy.
How rental caps, owner-occupancy ratios, and HOA delinquency rates affect your loan eligibility.
What the resale certificate contains, why it matters, and the key red flags buyers should watch for.
Explore More
Other condos at a similar price tier, with full building profiles, buyer analysis, and current market data.
See all buildings: Browse all Downtown Seattle / Belltown condo buildings →
Common Questions
First Light is located at 2000 3rd Ave in Seattle, at the boundary of Belltown and downtown. The location provides walkable access to Pike Place Market, Seattle Center, and the downtown retail and transit corridor.
First Light has 459 residences, making it the largest new condo tower in Seattle's recent construction cycle. The building completed construction in 2024.
First Light was completed in 2024, making it Seattle's newest major condominium tower. As new construction, it offers the most current building systems, energy efficiency standards, and warranty coverage.
HOA fees at First Light range from approximately $700 to $1,500 per month depending on unit size. Fees reflect new construction quality, full concierge service, rooftop terrace, fitness center, and secured parking.
Yes, First Light is rental-friendly with no rental cap. This makes it one of the most investor-accessible buildings in Seattle's 2020s new construction cohort. Contact Jeff Reynolds for current HOA rental policy details.
Jeff Reynolds is Seattle's condo specialist at Compass Real Estate. Contact Jeff for current listings, off-market opportunities, HOA financials, and building-specific guidance at First Light.
Seattle Condo Authority Network