Bellevue Breaks Decade-Long Hiatus with Ground Breaking
- Sep 18, 2017
The groundbreaking of One88, a luxury tower developed by Vancouver, B.C.-based Bosa Development in downtown Bellevue, Wash., signals a milestone. The 21-story tower is the first new condominium development in the city in almost 10 years.
One88 will offer 143 one-, two- and three-bedroom apartment homes, along with penthouse residences. An indoor pool, third-floor outdoor terrace, children’s playroom, fitness center and ground-floor retail are highlights of the luxury amenity package.
Vancouver, B.C.-based Amanat Architect is the project architect. Interiors are being designed by Santa Monica, Calif.-based Hirsch Bedner Associates.
“Bellevue has experienced tremendous growth over the last year, becoming a hub for many of the region’s new jobs and residents,” Bosa Development director of sales and marketing Bemi Jauhal told MHN. “Downtown Bellevue specifically is the fastest growing neighborhood in the city. It’s changing and evolving as an urban core where more and more people want to live, not just work and shop.
“One88 is ideally located to what’s new and trending in Bellevue including [Bellevue Downtown Park], which recently completed a nearly $18 million renovation and has become a major amenity for the city. The Shops at [the] Bravern is also just a few blocks away and is home to a number of luxury and designer retailers. The growth of the city on all levels has created an incredible demand for condominiums. We feel our luxury offering is exactly what the market needs.”
As a company, Bosa is known for trailblazing new markets and creating developments that are catalysts for change, Jauhal noted. “We are the first developer to break ground on a condominium project in Bellevue in nearly a decade,” she added. “We are excited to be the first and excited to enter a new market.”
Bosa Development found the location and growth of the area encircling the One88 site exceptionally appealing, Jauhal explained. “The site fits our focus on creating vibrant communities for buyers that understand urban conveniences,” she continued.
“Our only wish is that other developers would start building condominiums in the area again so that buyers can truly see the value. While I’m unable to share exact details on the bidding process, I can tell you we negotiated a deal that met all parties’ needs.”
What Bellevue wants
Located at the crossroads of Bellevue Way Northeast and Northeast Second Street, One88 will provide residents with views that include Lake Washington, mountains and surrounding green park areas. Sales are scheduled to commence early next year, and the development is slated for completion in early 2020.
Bosa Development expended a considerable amount of time developing a special product for the market, understanding that’s what city residents want, Jauhal reported.
“The level of luxury, amenities and unique architecture and design we combined to create One88 comes with a cost, but with that we have to make sure it’s still attainable to our target buyer,” she added. “We are building something special, that will have a higher price tag, but we know that Bellevue will appreciate it and respond to it.”