Chinn topped out on 20-story Bellevue condo tower.
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Chinn topped out on 20-story Bellevue condo tower.

November 03, 2023

Seattle Daily Journal of Commerce

Original Article by Brian Miller

The crane from Morrow is gone, replaced by a manlift in recent weeks, and Chinn Construction has topped out on the 20-story Mari condominium.

The builder broke ground at 10232 N.E. 10th St. in Bellevue almost exactly two years ago. That’s about a block north of Bellevue Square, and a short walk to the future Bellevue Downtown Station.

Architect MZA designed the 138-unit project. 

Developer Create World has now set up a sales website, and there’s a sales office nearby at 1105 Bellevue Way N.E. Polaris Pacific is marketing the units. Buyer incentives now include discounts of $10,000 on a one-bedroom, and twice that amount for a two-bedroom or three-bedroom.

Prices aren’t listed, nor is a prospective opening date offered. Outside brokers say next spring, which seems possible, based on a recent site visit. Gibraltar, representing the commercial space, says the second quarter of next year. There’s no sign yet of a legal declaration of a condominium, necessary under state law before any future sales are to close.

The boutique luxury building now divides its units into three tranches: Select, on floors three through 15; Aire, from 16 through 18; and finally the four penthouses on 19. (Level 20 is all amenities, with a double-height ceiling.)

Condos run from about 431 square feet, for a rare studio, to 2,179 square feet for a penthouse with three bedrooms. Most units have one bedroom. Outside brokers put the pricing in a range from about $590,000 to $2.3 million. So one might extrapolate a price per square foot in the realm of $1,400 to $1,600.

Amenities are to include a large roof deck and club lounge, gym, concierge services from Columbia Hospitality, yoga studio, smart entry controls via the Latch app and rain-sheltered dog run.

Three levels of underground parking are to have 160 stalls. In addition, says Gibraltar, 42 more stalls are reserved for shoppers and diners. A promised bike-washing station may imply bike parking for residents, too.

Besides the lobby and amenities, levels one and two are to have some 5,700 square feet of retail/restaurant space. Laura Miller and Tracy Cornell are the brokers at Gibraltar.

The team also includes B+H, interiors; DCI Engineers, civil and structural; Stateside Power, electrical; Holmberg Mechanical; KPFF Consulting Engineers, surveyor; Pangeo, geotechnical engineer; GCH, landscape architect; IF Studio, branding and design; and Madison Realty Capital, which provided an $86 million construction loan.

See the full article here.