The Seattle Condo Blog

The AVA condo and hotel project at 8th and Pine has become the latest development to officially be put on ice. At least for the time being. According to the Puget Sound Business Journal, AVA has suspended active sales and is holding off opening its sales center until the market improves. However, the developers plan to file for a building permit soon, though construction, assuming the permit and design reviews are approved, likely won’t begin until mid-2009.

The same article mentioned that Stewart and Minor, a lofts and hotel project, might get a makeover. The developer, GIS International, has indicated they are exploring other options for the parcel - apartments, an office building or an all condo project. GIS recently put its European Tower development on hold.

Coincidentally, AVA’s marketing team just sent out an update. Here’s what they have to say:

…As we prepare to submit for the final building permits from the City of Seattle, we continue to work closely with our contractor to secure the best possible construction pricing for our future owners. We anticipate receiving final project costing and entitlements by the second quarter of 2009, and will be in position at that time to finalize the construction schedule and occupancy date.

Later this summer, private preview appointments will be available for all Realtors and their interested homebuyers to tour the sales center. You will be among the first to preview the contemporary and sophisticated design palettes which have been custom created for AVA as well as explore home décor options.

GIS International announced they’re putting European Tower on the back burner due to current economic conditions. The exclusive one-home-per-floor tower currently has reservations for 6 of its 16 homes available which start at $2 million. The developer plans to wait till late this year before moving forward.

GIS is also the developer of the Stewart & Minor hotel and loft project in Denny Triangle. There hasn’t been any movement or information on that project since last Autumn. Given the news regarding European Tower, it’s likely Stewart and Minor went into deep freeze along with number of other downtown condo projects.

Source: DJC

The next stop on our Bellevue tour is European Tower (website) located at 930 109th Ave NE. Of all the new condominium projects in Bellevue and Seattle, European Tower is destined to be the most exclusive and distinctive.

Developed by Russian-based GIS International Group, the 17-story tower will be home to only 16 chic condominium homes, just one home per floor with a two-level penthouse.

With its European heritage, the developers have created a very modern and sleek residential property. Based on renderings, the home designs are open with clean lines and include stylish imported finishes and European fittings.

Each two-bedroom home features a separate den area, 360-degree panoramic views, two decks, two elevators and two spaces in the underground mechanical garage. Residents drive into the secured car port area and the automated garage whisks the vehicle away and stores it in a space underneath the building.

Residents will also enjoy memberships at three exclusive Bellevue clubs - The Harbor Club, Pro Sports Club and the Bellevue Club.

The property is located just blocks from Bellevue Square, Lincoln Square and the upcoming retail development at Bravern which will include a Neiman-Marcus store.

Homes are priced from around $2 million and higher. Please contact us if you’d like to learn more about this project.

Open Living & Dining area

View from master suite