The Seattle Times is reporting that the first Bellevue high-rise in four years has broken ground. Su Development, an Eastside and Seattle apartment developer, has begun work on a 21-story apartment tower in downtown Bellevue. This will be Bellevue’s first new, multistoried building construction since the real estate crash. The development is located at Northeast Second Street and 106th Avenue Northeast. The paper reports that this is phase one of the project that Su Development has named Soma Towers.
Liz Stead, City of Bellevue’s urban design planning manager is quoted by the Seattle Times as saying, “We’re all very excited to have it going up,” referring to the Soma Towers project.
The initial 21-story tower will include 142 apartments, about 10,000 square feet for retail, a 3,400-square-foot exhibition hall, 5,300 square feet of office space and 198 below grade parking slots, according to Bellevue building permit information. Phase two of Soma Towers will include an 18-story apartment building, an additional 124 apartments, 15,000 square feet of retail space, as well as underground parking for 197 vehicles.
The Times was unable to reach Su Development officials, for comment regarding the project. The paper reports that Dupre + Scott, a local real estate research company, indicates the first tower is scheduled for completion in spring 2014, with the second tower to be completed two years later.