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Silver Cloud Plans to Develop 10-Story Hotel in Downtown Bellevue
Silver Cloud Inns & Hotels, a Seattle-based company that specializes in boutique hotels throughout Washington and Oregon, plans to develop a 10-story, 170-room hotel in downtown Bellevue.
The hotel developer and operator had effectively left the local Eastside market with the recent sale of its property at 14632 SE Eastgate Way for $28 million, according to the Puget Sound Business Journal.
Silver Cloud CEO James Korbein said that the company’s plans for the downtown hotel influenced the decision to sell their Southeast Eastgate Way property. “We could have waited to sell it, but we had an opportunity, so we took it,” Korbein explained in the report. “We are excited to get back into the Eastside market.”
The project would transform the current site into a modern hospitality property complete with luxury rooms and a rooftop pool. Silver Cloud acquired the half-acre property at 200 108th St. NE in 2013 for $7 million.
