Eastside New Construction Update – Feb 2021
Say hello to Land Cook who is taking the lead on covering the Eastside new construction condo market. To get started he visited all the projects to get an update on how things are going so far in 2021. – Matt
2021 has gotten off to a mixed start for the condo market in Bellevue, with the market still feeling the effects of the pandemic. One88 is running low on inventory but has also had a few customers change their minds, likely to buy a house instead as the stay-at-home state of affairs carries on.
I stopped by Avenue this weekend for a peak at the model units for both the Residences and the Estates – if you want luxury, Avenue has it! The team has also converted some of the hotel rooms to condo units to increase the inventory. For the Residences prices start at $949,000. For the Estates $849,000.
Mira Flats is nearly sold out, with only 13 units left out of 162. Prices start at $819,000. Situated right down the street from Avenue and One88, I expect these units to sell out relatively soon as the more affordable option for downtown Bellevue.
The Lofts at 15th have laid the foundation for the first building and are getting ready to start the others. 4 units have been sold of the 22 planned. Prices start at $1,186,995. Completion in 2022.
Jade is progressing with their pre-sales at about 50% pre-sold and pending-under-contract. They’re estimating a late summer 2021 completion date. They’ve recently staged up a photo-ready kitchen and bathroom, and we’ll report again when they have a unit ready to show.
For a complete list of current and upcoming projects on the Eastside (and Seattle!) check out our New Construction Pipeline!