Tanglewood – low-rise condominium conversion in Issaquah’s Klahanie neighborhood.
Tanglewood is a 128-home low-rise apartment-to-condominium conversion project located in the master planned community of Klahanie in Issaauah, WA. The Matrix team was hired in 2006 to manage the sales and marketing of this project.
This was a complex conversion, with multiple buildings and phases. The Matrix team consulted with the developer on phasing, tenant notifications and pricing strategy. We worked with the interior designer and developer to determine the level of specifications necessary for this target buyer, and then developed a plan for the model homes and sales office.
Marketing services included working with the graphic designer to direct the brand development, website, print collateral, sales office, signage and advertising. Our marketing manager created the marketing plan, budget and calendar, with project status reported weekly in the sales and developer meeting.
We managed the sales team, selling from the clubhouse which was near the community entrance. One challenge here was signage, very few signs are allowed in this neighborhood so we had to resort to advertising and other outreach to bring buyers in.
As this was a rolling conversion, with homes being sold in some buildings as tenants still occupied other buildings, our team helped manage the list of homes that were currently vacant, ready to convert and prepared to sell, including walking the site weekly for punch items.
Sales started out very well, but as we got into the downturn in 2008 we looked for ways to continue driving traffic and sales. These included broker incentives, sales incentives, referral programs, buyer events and special promotions. We sold out in 2008.