Construction at Bellevue’s newest neighborhood, The Spring District, is moving along as 790 residential units are currently under construction. Selected by master developer Wright Runstad & Company and Shorenstein Properties to build the bulk of the residential units for The Spring District, Security Properties is currently working to get their units move-in ready.
Security Properties is building two of the three phases of residential development for the neighborhood which will provide multifamily units. AMLI Residential Properties is building the third phase of residential development, which includes a single residential building.
Security Properties recently completed The Sparc, a 309 residential unit complex across five buildings with best-in-class amenities including spacious floor plans and a Bright Horizons childcare center. The building is located in the southwest corner of the development and sits on a 2.5-acre parcel.
“The first phase of those units will get a certificate of occupancy this month and will likely be open to residents starting in March,” said Cooper Engst, development manager with Wright Runstad & Company. “The rest of those apartments are in various stages of completion,” he added.
The group is also working on the second phase of residential development that will include multifamily housing built to LEED standards. The 367,000 square foot mixed-use development will have a total of 279 units across three buildings. Plans for these multifamily housing units include a nine-story building and two six-story buildings. Units will range from studios to one, two and three-bedroom apartments and offer rooftop decks, a fitness facility, a pet salon, bike maintenance and storage areas. There will also be about 3,700 square feet of commercial real estate and two levels of below-grade parking for 255 cars. The site is about 1.8 acres and is directly east of The Sparc along N.E. 12st St. between 120th and 124th Avenues N.E. The second phase is scheduled for completion in late 2018.
While there are currently no tenants in any buildings, Engst said there will likely be residents living in the apartments as early as March and April of this year at the latest. He added that Security Properties will be setting up a model unit and leasing office staffer either this week or next week. Security Properties’ team also includes equity partner HAL Real Estate, financial partner Pacific Life Insurance Co., general contractor Walsh Construction and structural engineer Swenson Say Faget.
The third and final phase of residential construction is being built by AMLI. In February 2016, AMLI purchased a 1.47 acre parcel of The Spring District for residential development. The group plans to develop a single residential building of about 220 units on the southwest corner of neighborhood. AMLI is working with GGLO Architects and Rafn Construction to design and develop the site. Construction is set to begin in early 2017 with a completion date early 2019.
While construction of many components in The Spring District are nearing completion, the expected completion date for the entire master plan isn’t set until 2028.
Overall, Engst said he is happy about the progress of the development. “It’s coming along very quickly,” he said. “It’s been in the works for ten years now. When we bought the land in 2006, we laid out an initial vision for it but then hit a financial crisis.” Engst added that once things began to kick off over the past two years, progress has been really fast.