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Bridge-Essex-Touchstone JV Selected for $500M Bellevue TOD
Nonprofit Bridge Housing and development partners, Touchstone and Essex Property Trust, were selected by Sound Transit to develop a $500-million TOD in Bellevue. The JV plans to build roughly 500 units of housing, more than 400,000 square feet of office space, retail and resident amenities and a public park.
The 6.88-acre site is located across from the Spring District-120th Station. Bridge will serve as the qualified entity, master developer and affordable housing developer. Essex Property Trust will develop the market-rate housing. Touchstone, a URG Company, will develop the commercial office component.
The city and Sound Transit each contributed roughly an acre of land at no cost, valued at around $12 million, while project partners King County and ARCH offered a combined $14 million to support the development of affordable housing.
Sound Transit and Bridge will now negotiate business terms, which the Sound Transit Board will consider for approval in early 2021.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Development



