Living along the Sound Transit line in Bellevue, Wash., will be more available after a 288-unit, multifamily project gets underway.
Cushman & Wakefield arranged the joint venture equity for the development of Bellevue Station, a mid-rise transit-oriented apartment project located at 1525 132nd Ave NE in the fast growing Bel-Red corridor submarket, according to a news release.
The project addresses lower-income housing as it plans to deliver amenities for tenants per the release:
Bellevue Station will feature 288 rental units, including 230 market rate units and 58 below market Multifamily Tax Exemption (MFTE) units. Amenities will include a gym with a separate yoga zone, coffee bar, rooftop club room with associated terrace, and an indoor/outdoor/games room. The lobby will also include co-working space complete with open booths for residents.
Amazon is one of several technology companies that permeate the Puget Sound region, alongside Facebook, Google and more (often startups).
“We continue to see strong commercial projects in the Puget Sound region and developers command great attention from debt and equity investors,” said Dave Karson, Executive Managing Director. “Situated at a light rail station that is scheduled to open in 2023, Bellevue Station is positioned in the center of an astounding amount of office development and job growth. The Eastside has become a focus for the region’s largest tech tenants.”