Seattle & Northwest + Seattle + Apartments | February 16, 2023

Vander Hoek Plans $140M Multifamily Complex in Old Bellevue

Bellevue, WA-based developer Vander Hoek Corp. has submitted plans for North of Main, a six-story, 137-unit multifamily project in Old Bellevue. The complex, located at the corner of Main Street and 103rd Avenue Northeast, will also include ground-floor retail and an underground parking garage.

According to the Puget Sound Business Journal, the project is being designed by Weber Thompson while W.G. Clark Construction is doing pre-development work. North of Main still has to go through Bellevue’s approval process, so will not likely break ground until Summer 2024.

The immediate North of Main area in Old Bellevue has seen significant development and investment activity. Vander Hoek and Wolff Co. developed Venn at Main which sold in 2017 for $177 million to Equity Residential and in 2021, Bay Area-based Virtu Investments acquired Blu Apartments for $109 million or $770,370 per unit, a record price at the time.

Image courtesy of Weber Thompson and Vander Hoek

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Stu Vander HoekWeber ThompsonW.G. Clark Construction

About Mark Nieto

Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.

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