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.

Total development costs for the Vida project, which will also include 10,000 square feet of street-level retail space and four levels of underground parking, is $75 million, developers said.

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!

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