Commercial real estate company, Wallace Properties, is planning a new project at what is currently Place Bellevue North. The site is located at 1100 Bellevue Way Northeast with restaurants like Panera and Dominos Pizza, as well as stores like UPS and J. Lewis Jewelers.
The company recently submitted a pre-application conference memo to the City of Bellevue to redevelop the property with a mixed-use project consisting of four buildings, 950 apartments and more than an acre and a half of retail, as noted for the first time by Puget Sound Business Journal.
“Bellevue Nord” will be built in two phases. The first phase will be north of Northeast 10th Street with a tower, mid-rise, and plaza providing connection across the block.
The second phase of “Bellevue North” will be located north of the 1001 office towers that Amazon leased in 2019, and will include retail stores, which will phase an aisle. Brownstones are also planned alongside a “generous” landscape setback. The Landscaped Retreat is not legally able to begin redevelopment until 2027, due to lease commitments.
Bellevue North Mall also currently includes Adventure Kids Playcare, BevMo!, Sterling Bank & Trust, Pet Pros, Blue Sky Cleaners, Elements Massage, Vision Plus and The Coder School. The property was built in 1979 and renovated in 1996.
Residences will be both market-priced and income-limited in accordance with the City of Bellevue’s Multi-Family Tax Exemption Program. Approved in 2021, the MFTE is an affordable housing incentive for new apartment developments in targeted areas of Bellevue. It provides a 12-year exemption from property taxes paid on the housing portion of qualifying projects in exchange for setting aside 20% of the units for income-eligible households.
GGLO is the architect of the project.
In June 2021, Wallace Properties applied for design review approval for its 8-story apartment building, including affordable housing. 111th Ave NE Apartments is located at 11027 Northeast 4th Street. There is a planned total of 140 apartments, as well as 112 parking spaces.