Bellevue Downtue Downtown Magazine is a publication of the Bellevue Downtown Association

© 2006 Bellevue Downtown Association. All rights reserved.

What’s Going Up?

Have you discovered that nearly every downtown vista has a construction crane in plain view? So, what’s going up in Downtown Bellevue, anyway? To find out, check out the map below.

More than two million square-feet of office space and nearly 2,000 residential units are under construction. They include sophisticated, environmentally-efficient office towers, grand condominiums, dining additions, upscale retail, boutique hotels and specialty spas all waiting to come to life and add to the vitality of Downtown Bellevue.

What a difference five years can make. While the late 1990s saw completion of several landmark office projects, the period also marked an economic slowdown and a construction drought with unfinished business at Lincoln Square, the former Technology Tower, and a shrink-wrapped blob across from the Post Office.

The rebound has been dramatic. Last November, Lincoln Square reached new heights and added a new chapter on Bellevue’s success. The other two projects are nearing completion. And there’s much more on the way.

Concentrating new development in Downtown Bellevue has been a consistent strategy for three decades. In 1979, a new plan for downtown called for greater density of jobs, housing and retail activity to fuel the city’s economy and protect single-family neighborhoods from growth. This move led to Bellevue’s first skyscrapers.

Today Bellevue remains on track with its planning targets despite a few recessionary bumps. Demand for space in Downtown Bellevue is strong. Vacancy rates have dropped, stores are busy, restaurants are packed, and homes are selling out. Until last year, eight buildings had reached the 20-story mark or beyond. Downtown will see 15 more in the next four years.

This wave of new projects will produce an even more robust selection of stores, restaurants, homes and recreation choices in a destination that appeals to both sides of the lake.
Further, this new growth is expected to generate more than $150 million in tax revenues for the city over the next 20 years. All told, the boom will define the city’s character for future generations as a viable, vibrant and livable urban center.

For more information about current projects, please contact Patrick Bannon, BDA Communications Manager, at patrick@bellevuedowntown.org.