The Bravern Condominiums in Downtown Bellevue announced yesterday that they will be turning 1 of their 2 condominium towers into apartments. Their 2 office towers are both fully occupied by Microsoft and the retail space is filling up nicely so the condo sales were the weak link for the project and with their completion set for next month they decided that apartments were the best course of action.
However, they do not intend to keep the 236 units in the south tower as apartments so once the market recovers they will be put up for sale as condos again.
The Developer has also indicated that the prices of the units available in the north tower will be reduced but by how much is not yet known.
Source: Seattle Times
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