With its Sparc apartments well underway in Bellevue's new Spring District, Security Properties broke ground this week on a second mixed-use complex there.
This one has no name yet, but it will have a total of 279 units in a nine-story building and two six-story buildings. About 3,700 square feet of commercial space are planned with two levels of underground parking for 255 cars. The size is about 367,000 square feet.
In a statement, Security Properties' John Marasco said, “With new residential, retail and office projects on the way, including anchors Global Innovation Exchange and REI, together with the rapidly advancing Sound Transit East Link, we're seeing the long-awaited Spring District take shape, and we couldn't be happier to be a part of it.”
Mithun designed the project, which is scheduled for completion in late 2018.
Units will range from studios to three-bedroom apartments. Rooftop decks, a fitness center, pet salon and bicycle maintenance/storage areas are planned.
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.