On Sunday our partner, The Seattle Times put together a report for how Downtown Bellevue is well positioned for another building boom. The article made several references to planned construction in 2013. Below are the highlights of the expected development in Downtown Bellevue.
Downtown Bellevue Construction Pipeline Highlights
- 5 Residential properties in the pipeline with 1,100 units
- 3 Office towers in the pipeline with 1.5 million square feet
- Currently 222 apartments are under construction in Downtown Bellevue, while 4,000 apartments are under construction in downtown Seattle, Belltown and South Lake Union
- Downtown Bellevue’s current average apartment rent is $1,657
Residential Projects featured
- Lincoln Square Expansion – 2 towers with 545,000 square feet of office space, 392,000 square feet of retail, a 120-room hotel and 200 residences that are likely to be condos. Construction is expected to start next summer (Developer: Kemper Development Co.).
- Alley 111 (NE 8th St) – 13-story, 259-unit complex on NE 8th St (across from The Bravern). It’s anticipated that they will have the building permits in by this spring (Developer: Skanska).
- Old Bellevue Project – 160-unit complex in Old Bellevue that’s anticipated to break ground by the end of March (Developer: Cantera Group).
- Main Street Project –260-unit complex on Main Street that shows intention of starting in the summer (Developer: Alamo Manhattan).
- Corner of Bellevue Way & Main St – 262-unit complex that also has 33,000 square feet of shops and restaurants. This project should begin by July. (Developer: SRM)
