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.