THE SEATTLE TIMES
By Amy Martinez

“After its own research revealed Eastside residents have the ability — and desire — to buy designer labels, Neiman Marcus signed on to become the Bravern’s biggest retail tenant.

Since then, Schnitzer’s massive mixed-use project off Interstate 405 in downtown Bellevue has announced four smaller tenants, including a Jimmy Choo shoe store, two restaurants and a New York-based gym with the motto “Look Better Naked.”

THE SEATTLE TIMES
By Amy Martinez

“The Bravern is part of a downtown Bellevue building boom that counts about 1,500 condos and 1,800 apartments under construction, representing a near-doubling of city center housing units.

Developer Schnitzer West started selling the Bravern’s 455 planned condo units in February at prices ranging from $400,000 to more than $5 million. Like other condos, the Bravern promises prospective buyers mountain views, stylish fixtures and ample parking — but it’s the only one that can also give them Neiman Marcus.”

THE SEATTLE TIMES
By Eric Pryne

“Lexas principals John Midby and Eric Midby said prices are going up partly to send a message to prospective buyers: If they’re waiting to buy until prices drop, they’re reading the local market wrong…

…Seattle’s economy is strong, he said. Housing prices here have held up fairly well while those in much of the rest of the country have plummeted.

What’s more, he said, demand for new downtown condos soon will outpace supply because many proposed projects that haven’t broken ground are having trouble getting financing.”

PUGET SOUND BUSINESS JOURNAL
By Kirsten Grind

“That’s why Kathie and John Truax, in their 60s, plan to sell their 3,700-square-foot home in Richland and move into a condo half that size in downtown high-rise Escala.

The 275-unit building, developed by Lexas Cos., is scheduled for completion in 2009. The Truaxes’ condo has a price tag of more than $1 million.

The couple wanted to live closer to stores, restaurants and city life. “We just decided, you know, this is a great life, but let’s go do something crazy,” said Kathie Truax.”

PUGET SOUND BUSINESS JOURNAL
By Jeanne Lang Jones & Kirsten Grind

“With 40 condominium projects in the pipeline for downtown Seattle one might expect a glut of new units on the market. But tight-fisted lenders and hesitant buyers, both reacting to the nationwide credit crunch, have severely hobbled the once high-stepping market.

The pace of development has slowed so sharply that local experts predict a shortage in 2010 that could drive prices up. One consultant forecasts delivery of just 189 new units that year—down from an average of 1,100 anticipated in each of the prior three years.

Behind the prediction: No new condo project has broken ground downtown since the last two buildings—275-unit Escala and 204-unit Equinox—got under way last summer, said the consultant, Dean Jones, president of Realogics Inc., a Seattle-based condo research and marketing firm…

...Ironically, the slowing market just might protect condominium prices, by reining in supply at a time there is uncertain demand from buyers, said Jones.”