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Originally Posted by horatio_the_hermit
Really. I dont know for a fact. Are you sure you arent confusing it with the 1020 tower across the street. Developed by hanover. It seems like a waste to build two apartment buildings with no condos.
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I think some new rental residential units are in order. They can't all be condos.
An article in last week's DJC said that Eastside rents went up 6-8% from 12/04 to 12/05, and that rents will increase another 4-10% during 2006. The article also says that this will bring rents back to where they were in 2000-2001 when the market peaked last.
Plus all the condo conversions have reduced the supply of apartments, and downtown Bellevue is now a desirable, higher-end market to live in.