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Seattle & Northwest  + Pacific Northwest  + Apartments  | 

More Multifamily Housing Coming into Bellevue, Wash.

The multifamily-development train has definitely left the station in Puget Sound. Legacy Partners (via its Seattle office) is adding nearly 300 units of multifamily housing near the light rail station at Bel-Red and 130th Street, an industrial area of Bellevue, Wash. 

The nearly 1.8-acre former industrial park at 1525 132nd Ave. NE was purchased for $18.2 million. A portion of the property will become part of the Bel-Red neighborhood’s new road network, leaving Legacy with a 1.5-acre development site, according to reports.

Legacy’s intention is to enroll with Bellevue’s multifamily tax exemption program, which requires a fifth of the units will be reserved for lower-income households.

Legacy has yet to complete the entitling of the site, also according to reports.

The group that sold the site to Legacy is DMC Assets LLC, which according to public records is governed by CCD Enterprises.

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