By Kate Snyder
The multifamily market in Bellevue could soon see additional development as preliminary plans for a three-tower residential project were recently submitted to the city. The plans were submitted by Hossein Amanat, principal at Amanat Architect, and Bosa Development is the project’s developer, according to Bellevue city records.
Located at 102 Bellevue Way NE, the approximately 431-unit project is slated to be south of Bosa’s One88 development, which is a 21-story condominium property in the city’s downtown. According to city records, the project is proposed to be phased at an approximate east-west line just north of the existing OrangeTheory Fitness building. The first phase to the north would consist of one residential tower with ground level retail as well as above- and below-grade parking. The second phase would include two more residential towers connected at the south with ground level retail and below-grade parking. A pedestrian connection is proposed to be enhanced with public gathering spaces.
City records also describe the project as three new residential towers of 27 stories each with ground floor retail, above- and below-grade parking and a through-block pedestrian connection. Proposed retail space would total approximately 29,000 square feet, and the project would also include 800 vehicle stalls.
Bosa purchased the site in 2021 for $127.5 million, or approximately $2,955 per square foot, according to previous reporting from The Registry. The 43,140 square foot retail and restaurant property that is currently onsite was built in 1976 on nearly three acres and was last acquired by an entity associated with Cosmos Real Estate Investment Group in 2017 for approximately $120 million.
Based in Vancouver, Canada, Bosa Development is an international real estate development firm. According to its website, the company was founded in 1986 and has developed thousands of homes throughout Canada and the western U.S. The firm’s other major project in Bellevue, One88, was recently completed and is located at 188 Bellevue Way NE. That 147-unit development was designed by Amanat Architect and Hirsch Bedner Associates.
Bellevue has seen a number of residential projects coming to the downtown area.
Earlier this month, Wallace Properties in collaboration with architect GGLO submitted revised plans for the construction of a 466-unit project located at 1000 and 1100 NE Bellevue Way. Wallace owns the property and is the project developer. The development blueprint entails a 28-story tower housing 308 workforce housing units, accompanied by a seven-story building housing 158 units. Additionally, the plans include approximately 20,000 square feet of retail space. This new complex will replace Wallace’s Bellevue North shopping center, which will be demolished.
Bellevue officials also recently granted approval for the design of two five-story buildings, marking a significant boost to a mixed-use multifamily project planned for a prime downtown location. The development will be situated on a two-acre site, with the buildings set to rise atop an existing parking garage. Located at 10850 NE Eighth St., the project has been in the pipeline for seven years and encompasses 312 apartments along with retail spaces.