Wallace Properties, a commercial real estate company, recently applied for Design Review approval and approval of the Master Development Plan for the first phase of their mixed-use project, “1000 & 1100 Bellevue Way NE”. The site is located at 1000 and 1100 Bellevue Way Northeast with businesses like Panera, Dominos Pizza, UPS, and Snapdoodle Toys currently reside.
According to the City of Bellevue, Master Development Plan and Phase I Design Review approvals include the demolition of two existing one-story commercial buildings and a portion of a third building along with 76 surface parking stalls to construct a two-building, mixed-use proposal. The first phase will be located north of Northeast 10th Street.
Construction will begin of a 28-story high-rise residential building with approximately 4,300 square feet of ground floor retail space. There will also be a 7-story mid-rise residential building constructed with approximately 15,000 square feet of ground floor retail space over below-grade parking.
The proposal will contain 466 apartment units and a total of 627 below-grade parking stalls, as well as landscaping.
The project in total is made up of four buildings, which includes 950 apartments and over an acre and a half of retail in total. “1000 & 1100 Bellevue Way NE” will be constructed in two phases.
The second phase, which has not yet received approval, will be located north of 1001 Office Towers. It will include retail shops and brownstones next to a landscaped setback. The landscaped setback is not legally able to begin redevelopment until 2027 due to lease commitments.
Seattle-based integrated design-firm, GGLO, is the architect for the project.
The residences will be both market-rate and income-restricted, following the City of Bellevue’s Multifamily Tax Exemption program. Approved in 2021, the MFTE is an affordable housing incentive for new apartment developments in targeted areas of Bellevue. It provides a 12-year exemption from property taxes paid on the housing portion of qualifying projects in exchange for setting aside 20 percent of the units for income-eligible households.
