Over the last decade or so, Bellevue has really been coming up in the world. What was once known primarily as Seattle’s sister city on the East Side is rapidly becoming a full-fledged metropolis in its own right, and the skyline is expanding daily.
While apartments, office buildings and town-homes have been popping up all over the East Side for the last several years, there (surprisingly) has not been a condominium development in Bellevue in almost a decade.
With condo sales reaching new highs in the greater Seattle area of late, it’s surprising that Bellevue hasn’t seen any new condo complexes dotting its skyline, that is until plans for One88 were recently announced.
Bosa Development, the Vancouver B.C. based company and the folks behind Seattle’s already successful Insignia condo towers, has set their sights on Bellevue to build a 21-story condo development, dubbed One88.
One88 is slated to open in 2019 and will feature 143 condominiums. Units will range from 1-bedroom to penthouse units. The luxury condo project will break ground next year at Bellevue Way Northeast and Northeast Second Street, putting it in a prime location near Bellevue Square and Downtown Park.
The announcement of the One88 project is a big deal for Bellevue, as there has not been a new condo development in the city since 2008. After the housing market crashed, condo sales were severely down. So much so in fact that many condo developments were turned into apartments with developers finding renters easier to acquire than buyers.
But, times have changed. Condominiums sales have been on the rise in recent years all over the greater Seattle area. Home-buyers are turning their heads in this direction more and more as single family home prices continue to soar throughout the city, and nationwide as well. And while condos may prove to be a more affordable option there are not enough available to keep up with demand. You may remember the group of people camped out over night to buy condo units in a building that has yet to break ground. If that’s any indication, condo sales are poised to explode even further in the coming years.
One88 is touted as a luxury development which suggests that the units will be on the pricey side, and, as it is a Bosa Development project, is sure to have a host of outstanding amenities and a stylized aesthetic to boot.
Information about the project is limited at the moment, but more will become available as the project progresses. If you’re looking for your piece of the Bellevue skyline, stay tuned.