Private Equity firm, Crescent Capital Partners, recently applied for Design Review approval to the City of Bellevue. The project, Crest Holdings Bellevue, is located at 929 109th Avenue Northeast, which is on the existing Pacific Regent parking lot along Northeast 10th Street.
The design review application includes an 8-story multi-family building with 200 residential units. It will feature ground-level residential amenities and 234 vehicle parking stalls in a three-level below-grade parking garage.
The project is planned to happen in two phases. Phase 1 is slated to begin in March 2025 to August 2027, and Phase 2 is slated to happen from September 2027 to December 2029, according to the Master Development Plan.
Phase 1 includes an 8-story mixed-use, multi-family building and associated site improvements on the existing Pacific Regent parking lot. Phase 2 features a 22-story mixed-use, multi-family building and associated site improvements on adjoining lots along 109th Avenue to the east. The architect for the project is Weber Thompson.
Noted within the Master Development Plan is that when both phases of Crest Holdings Bellevue is complete, there will be a total of 506 apartment units.
The existing Pacific Regent Tower building will remain on the property.
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