Update Oct 2008: Tonsing Development is proceeding on the project as an apartment rather than a condominium.
With most of Bellevue’s new condo developments focusing on the very high-end market, it’s refreshing to see a developer offering a more reasonably priced option for condo buyers. Proposed by Colorado developer Tonsing Properties, the Vida Condominium (website), located in downtown Bellevue, will offer 238 homes within its 12-story structure. Prices are expected to range from $300,000 to over $800,000, though most of the homes will be available between $350,000 and $450,000.
One way the developer is able to offer homes at these price points is by reducing the size of the units which will likely range from 400 to 850 square feet. In many ways, Vida is reminiscent of the Moda Condominium project in Belltown. Moda provided an affordable alternative with homes ranging from a very cozy 300 square feet to about 1,000 square feet. Moda was a hit with buyers and sold out within a couple of weeks.
Bellevue is realizing significant job growth, particularly with technical and professional workers with the expansion of Microsoft and Google, who will be perfect homeowner candidates for a project such as Vida.
Vida will be hosting design preview events later this fall, along with an updated website, providing prospective buyers an opportunity to view architectural designs, floor plans, views and finishes. The events will also provide buyers an opportunity to reserve a home.
Be sure to check back later as we’ll provide more information as it becomes available. Vida is expected to be completed in 2009.
View early renderings of Vida. Designs are not final and subject to change.