Local Real Estate News March 31, 2021

New Bellevue Projects Promise a Busy Future

It appears bustling Bellevue has an ever-busier future on the horizon. Already the site of a growing Amazon presence outside of Seattle, the city now has quite a few significant construction projects in the works, including new office space, residential towers and a huge mixed-use project.

Set among Amazon’s leased office buildings, a new luxury residential condo project promises to bring 274 new residences to the city. The 34-story tower, called ParqHouse, will significantly increase the number of condos available in both Bellevue and the Eastside at large. The project will include at least one penthouse, with other floorplans ranging from studios to 3-bedroom units. Asking prices for the condos have not been determined yet.

Downtown, a giant mixed-use project has been submitted for design review. The proposed project includes a total of 12 towers up to 25 stories tall, 7 of which would be residential.

Split between two lots, the project would include 60,000 square feet of office space, 300,000 feet of retail space and 1,940 residential units. The development also includes plans for a hotel, underground parking, anchor stores and an internal plaza.

Amazon is also expanding its presence in downtown Bellevue, having picked a development for its next major lease in the city. The new Amazon space will be a 25-story office tower called The Artise.

The Artise offers Amazon an additional 600,000 square feet of space, bringing the company’s total in Bellevue up to 6 million square feet either leased or in development. This lease is part of Amazon’s plan to add 25,000 jobs in Bellevue over the next few years.

The tower is scheduled to open in 2024, although the project has not broken ground yet.


This post originally appeared on GettheWReport.com