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Taylor Morrison Plans Townhome Project at Former Verizon Building in Bellevue
A vacant office building that once housed Verizon soon will be demolished, and the site will be converted into townhomes.
The property sold for $25.2 million, and national homebuilder Taylor Morrison plans a phased, 77-townhouse project at 3245 158th Ave. SE, reported the Puget Sound Business Journal.
The building, which was built in 1985, spans just under four acres. Public records show the seller, a limited liability company affiliated with Rainier Pacific Properties of Seattle, acquired the property for $5 million in 2017. KL LHB AIV LLC is the buyer. KL stands for Kennedy Lewis Investment Management of New York City.
In 2023, Taylor Morrison filed permits with the city for approval to build 83 townhomes on the property, with revised plans scaling back the project slightly. Taylor Morrison will replace the empty office in Bellevue’s Eastgate with the townhomes, and demolition is expected to start later this year.
