A Bellevue-based developer and owner of commercial real estate, Wig Properties, recently filed documents with the City of Bellevue detailing their plans for the Red Lion and Hilton hotels. The total land area between the two properties is approximately 15.5 acres.
According to City of Bellevue records, the project is planned to have six towers up to 38 stories tall. There will be residential and retail/office space included in the mixed-use development. 1.9 million square feet of office space has been proposed, as well as 27,000 square feet of retail space, 1,350 residences, 340 hotel rooms, and 2,900 underground parking stalls. This will all be over a shared podium.
The project will have a pedestrian bridge that will go over the street of 112th Avenue Northeast to connect to the light rail station for convenience.
The predevelopment application includes information for Red Lion Hotel, which totals 6-acres. It does not include Hilton Bellevue, which will also be a part of the project, according to Wig Properties’ website. Hilton Bellevue totals 9.5-acres.
Wig Properties purchased the Red Lion Hotel at the corner of Main Street and 112th in February of 2015 for $35.4 million. They then purchased the adjacent Hilton property in December of 2016 for $122.6 million.
The location is situated on 112th Avenue Northeast, near I-405 and across the street from the future East Main light rail station.
We wrote an article in 2021, detailing the change that 112th Avenue Northeast is undergoing and will continue to undergo for years to come. The transit-oriented area has over a handful of projects in the works. The different projects that we highlighted total over 3.3 million square feet.
