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Alexandria Real Estate Receives Approval for 116-Unit Bellevue Project
Alexandria Real Estate Equities has received a conditional environmental approval from the city of Bellevue for the development of a seven-story residential building west of the Spring District.
The 116-unit project at 1299 120th Ave. NE is part of Alexandria’s planned Center for Science and Technology campus, reported the Puget Sound Business Journal.
The project would replace an 27,380-square-foot office building slated for demolition. The new building would have below-grade parking for 89 vehicles. Weber Thompson is the project’s architect. The Alexandria Real Estate Equities Inc. Center for Science and Technology in Bellevue would span 8 acres, with three lab and office buildings and two apartment buildings with approximately 430 residences.
The property would be one of three residential buildings on the campus. There would also be site infrastructure improvements, including new roads. Alexandria acquired most of the site for $77.5 million in May 2021 from Bellevue-based Pine Forest Properties.
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