SRM Development
SRM Development Wins Bellevue Design Approval for 146-Unit Affordable Altaire on Stalled Hotel Site
A hotel foundation in West Bellevue that sat abandoned for six years will become the second phase of an all-affordable apartment campus. The...
PGIM Stacks $22.7MM Mezzanine Loan on SRM Development’s Brizo Apartments in Downtown Bellevue
PGIM's real estate structured debt strategy has supplied a $22.7 million mezzanine construction loan for a 220-unit SRM Development apartment project in downtown...
SRM Clears Downtown Bellevue Corner, Wins State Backing for $9.5MM Cleanup Ahead of 376-Unit 12 Bellevue
With the old Jack in the Box and 7-Eleven buildings now demolished, SRM Development has secured a Washington Department of Ecology opinion that...
SRM Development Lands $72.5MM Bank OZK Construction Loan for 239-Unit Brizo Apartments in Downtown Bellevue
Spokane-based SRM Development has lined up $72.5 million in construction financing from Bank OZK to build Brizo, an eight-story, 239-unit market-rate apartment building...
SRM Development Lands $48.5MM Refinance on 178-Unit Gridline Apartments in Seattle’s Capitol Hill
SRM Development has retired the construction debt on its leased-up Gridline Apartments in Capitol Hill, closing a $48.5 million permanent loan from a...
SRM and Urban League Cut Ribbon on 207-Home Altaire at Jackson Park in North Seattle
The North Seattle community, backed by Amazon, the Washington State Housing Finance Commission and the Seattle Office of Housing, targets workforce renters earning...
Dickson Crews Tear Down Stalled Bellevue Hotel Foundation, Clearing 4.5-Acre Site for SRM’s 146-Unit Altaire Project
The teardown ends a six-year stall on a Mercer Slough-adjacent parcel and resets the path for one of Bellevue's largest affordable housing deliveries....
Demolition Underway on Stalled Bellevue Hotel Foundation, Clearing Path for 146-Unit SRM Affordable Project
The teardown ends a nearly six-year stall on a 4.5-acre Mercer Slough-adjacent site and triggers Phase II of an Amazon-backed development designed to...
Bellevue Locks In 5,700-Unit Affordable Housing Target as Eastside Tech Boom Strains Market
The seven-year strategy more than doubles the city's previous goal as record corporate leasing collides with rising rents and a regional construction slowdown....
Private Capital Tightens Grip on Washington Multifamily as Pierce County Heats Up
A Berkadia Q1 2026 report shows mid-market investors driving deal flow, institutional buyers retreating to scale plays, and a coming delivery cliff setting...
Bellevue Commits Record $37MM to Deliver 271 Affordable Units in Largest Housing Round in City History
Four developers secured funding to advance income-restricted apartments and ownership homes across the Eastside, with two projects breaking ground this year. Bellevue is...
Bellevue City Council Unanimously Advances 2026-32 Affordable Housing Strategy Targeting 5,700 Units Over Next Decade
Updated seven-year plan replaces 2017 strategy with expanded tools, new revenue sources, and preservation targets as median home prices approach $1.6 million on...
