Bellevue’s Spring District Kickstarts Development with Two Office Buildings
By Alex Girda, Associate Editor
The city of Bellevue approved permits for two new office buildings to be part of the Spring District project in Bellevue. Developed by Wright Runstad & Co., the the mixed-use Spring District will constitute a 36-acre, environmentally sustainable urban area that will replace the old Safeway Distribution Center in the Bel-Red Corridor. The development comes in response to the area’s rising technology market and growing interest in the Puget Sound area overall. An appeal deadline was set for July 25th.
The two office buildings will be situated at 1227 124th Ave., N.E., and will total nine and 11 stories, respectively, with both featuring a ground-floor retail component. According to the city of Bellevue’s “Weekly Permit Bulletin,” the combined area of the two buildings will stand at around 525,140 square feet, excluding the space taken up by parking facilities. The development plan also features five levels of underground parking, with 1,272 parking stalls.
For the two buildings to take shape, the developer will need to conduct a demolition process on existing buildings totaling 358,310 square feet. Site and street improvements will be made to the area before the actual construction can begin. Approval has been given for a 14.75-acre site, with other projects to follow.
According to the developer’s Web site, the Spring District will total around 5.3 million square feet and will include a hotel, 1,000 residential units, street-level retail, green areas and plazas. The area is being developed to meet LEED-Neighborhood Development standards. Surroundings offer views of the Cascade Mountains, downtown Bellevue, Lake Washington, Seattle, the Olympic Mountains and Mt. Rainier. Security Properties is under contract to build 316 apartment units on a 2.5-acre site, while 1.8 acres will probably go under contract for another 239 residential units.Tags: Bellevue development, Commercial, Developers, Development, economy, Finance/Investment, Financiers, Investors, LEED-Neighborhood Development, Local, National, Office, Owners, Policy, Professional, Puget Sound office market, Regional, Seattle Lead Story, Security Properties, Spring District, Wright Runstad