Residential developer Securities Properties has finalized a deal to begin construction on a 316-unit apartment complex in Bellevue's Spring District. The company is planning to acquire 2.5 acres of land to build their project on while also maintaining the option to build another 225 units on a property adjacent to theirs.
The entire project will consist of five apartment buildings and will join Wright Runstad's first phase plans for the district, which include six office buildings and a park.
The Spring District is a 36-acre industrial area that the city wants to turn into a a walkable, mixed-use area, not unlike the recent plans in Seattle's SoDo neighborhood. With a prime location near downtown Bellevue and plans for a light rail station, the long-term potential for the district is huge.
· Security Properties strikes deal for residential project in Bellevue's Spring District [PSBJ]
· The Spring District [Wright Runstad]