According to developers, what will be the most sustainable mixed use space in Bellevue is planning on opening in late 2009. Tonsing Properties LLC of San Francisco and ProNet Capital LLC of Denver bought the one acre site at 111th Avenue Northeast and Eighth Avenue Northeast for $10 million to build the Vida Condos. The 12-story, 242-unit condo tower will replace what is now small retail and some residential units.
Vida condo units will range in size from 400 square (about the size of nine ping pong tables) feet to 900 square feet, with the average size being 650 square feet. Prices will start at $275,000 for the smaller units, with the largest priced up to $800,000.
No stranger to living small, Raymond Tonsing, the CEO of Tonsing Properties LLC says he happily spend a recent summer living in a 325-square foot apartment in downtown Vancouver, BC.
So what does this mean? Do smaller units mean Bellevue is getting big? Is there really a market for what Tonsing is offering? Note, this is the same architectural team that created the Moda condo project in Seattle and it sold out in less than a week!
I would be more interested in this project if it wasn’t on such a busy road.
Yes, it will be very interesting to see how the road evolves with the Bravern, and all the shoppers/ Microsoft employees / Residents coming in and of that area.
I hope the city is taking a look at this…It could become a HUGE issue. Large bottleneck getting on and off the freeway.
This is NOT the same team that created Moda. Where’d you read that?
Moda’s units started at 150k. Over half the units were under 250k. I doubt Vida would sell anywhere nearly as fast as Moda did.
Correction:
“…this is the same team that created the Moda…”
should read,
“…this is the same architectural team that created the Moda…”
Source: http://www.vidacondos.com/news/vida071307.pdf
Oh okay, thanks for clearing that up. The wording in the post made it sound like its the same developer as Moda.
thanks – good looking out!
I hope the city is planning to make walking / biking easier to do, as traffic will be terrible once all of these projects are completed.
Have any of you walked from DTB to whole foods? It’s just plain scary.
The NE 10th extension over 405 should help ease traffic and maybe help improve the pedestrian experience to Whole Foods as well. The new overpass should be a little more pedestrian friendly than the NE 8th one since it won’t be as wide and won’t contain any freeway on and off ramps (at least I don’t think it will).
I guess that’s better than the puppy mill thats on that location now….
Still, the side and back units are going to look right into the windows of the hotel, and vice-cersa.
There is a a slick new pedestrian overpass over 405 in Bothell at the park and ride. Maybe something similar in downtown Bellevue over 405 wouldnt be such a bad idea. The city needs to start separating bicycle/pedestrian traffic from cars.