SEATTLE-Locally based Lexas Cos. this month began clearing a 12,400-sf lot just north of the Downtown core here en route to a $350-million condominium development. The 30-story, 280-unit Escala is slated for completion in 2008.

The development site is located at Fourth Avenue and Virginia Street, one block north of Westlake Center. Bellevue’s Mulvanny G2 Architecture is the chief architect.

The unit mix will range from 950-sf one-bedroom units to 16,000-sf penthouses. Asking prices range from the mid-$500,000s to more than $5 million. Ownership includes membership in a 25,000-sf club on the second floor that includes a gym, pool, spa and lounge. Two restaurants also are planned for the building. A little more than half of the units have been reserved with refundable deposits, according to Lexas. A presentation center is slated to open later this fall.

Lexas is led by Joeseph Stroeble. The company has completed several other condo projects in the region, all of them much smaller in scope than Escala.

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