We may be the Seattle Condo Review, but a new construction condo tower in Bellevue is still important news for the condo market overall.
According to the PSBJ, Create World America, the Chinese real estate company who bought the property in Downtown Bellevue, will be building a condo tower and apartment tower as part of one development project. They have teamed up with a Seattle development company, Daniel's Real Estate, general contractor Lease Crutcher Lewis and design firm GGLO for the project. The site for the development is located at 10230 NE 10th St, where the Papa John's currently sits.
They will build the 6 story apartment building as the first phase and then the 17 to 19 story condo tower in the second phase. Phase one is expected to begin at the end of this year and phase two they hope will start by the end of 2016.
Because the Chinese culture is a driving force behind the design, they will build 110 three bedroom condo units to accommodate extended and multi-generational families. It will be interesting to see how these larger format condo units get gobbled up by the market. If they go fast and demand is high, we might see more units with this higher bedroom count coming our way in future projects.
Source: PSBJ, photo courtesy of PSBJ
By Marco Kronen with Seattle Condo Review: A guide to Seattle downtown condos.
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