Rendering: SRM Development
Rendering: SRM Development

Alco Investment Company of Federal Way recently sold their property at 1051 108th Avenue Northeast. The buyer was SRM Development, according to public records. The development company paid over $14 million for the site.

The location, which is known for its skinny shape, is 0.92 acres. It currently has multiple buildings and a parking lot on the site, which is being used as residential space.

The plans that were originally submitted to the City of Bellevue included a 220-unit apartment building, made up of eight-stories, plus two-stories of below-grade parking. The multi-family residential project is named Brizo. The designer is Runberg Architecture Group.

The amenity plan, submitted to the City of Bellevue, shows bike barking, dog/bike wash area, fitness center, package and mailroom, entry plaza, lobby, club room, and a rooftop deck.

Alco Investment Company purchased the site in 2020 for $12.8 million, as stated in public records.

The apartment project was submitted for design review in 2021. It was included on the City of Bellevue’s fourth quarter downtown major projects list.

SRM Development
Photo Credit: SRM Development

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