More Bellevue Development in the Works

After just driving down this path yesterday, I ran across this article from the Seattle Times about a plan for a 36 acre “urban village” to be developed right smack in the central Bellevue to Redmond corridor!  As many as 800 apartments with ground-level retail shops and 3 million square feet (eventually) of office space are included in this development plan.  Supposedly, there would also be 16 acres of open space including roads and trails and enough room for other amenities including a transit station (bus or possibly light rail) one day.  Of course this is all subject to Bellevue’s approval of zoning changes that would clear the way for this project, so this is all speculation at this point.

This should be interesting, as the area is not currently residential, but home to an assortment of warehouses and tile and flooring dealers.  What’s your take on the development? Do you think this will be good for the area?

In the meantime, here are some Bellevue properties that have closed in the area recently. There are some low numbers here, but my guess is that 11410 NE 20th St. and 11401 NE 20th St. are adjoining properties that sold to the same new owner.

12700 NE 8th St #C304
2 br/1 ba, 922 sq.ft.
SOLD $101,089 @ $110/sq.ft. (11/26)

11410 NE 20th St
3 br/2 ba, 1,660 sq.ft.
SOLD $54,200 @ $33/sq.ft. (11/15)

1215 120th Ave NE #304
1 br/1 ba, 807 sq. ft.
SOLD $380,000 @ $471/sq.ft. (11/8)

11401 NE 21st St
3 br/2 ba, 1,940 sq.ft.
SOLD $1,057,600 @ $545/sq.ft. (11/7)