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exclusively offered by berkadia seattle
0.99-acre fully-entitled site for 215 units
Amity Court 14400 NE Bel Red-Rd, Bellevue 98007
highlights
215
proposed units
acres
0.99
Parcel no.
2725059147
zoning
BR-CR
NRSf
144,063
investment highlights
Primary contact
Mitchell Belcher
email
Call
Fully entitled 0.99-acre development site in Bellevue, WA, the most expensive submarket in the
Seattle MSA; less than a mile to Bel-Red Light Rail Station, just over a mile to Microsoft HQ
Permits in hand for the 215-unit property with construction able to start as early as this year due to jobs in entitlement and current permit application status
Proposed project consists of an eight-story building with a mix of studios, one, two, and three-bed units, plus 2 townhome-style units; amenities will include underground parking, a top-floor
terrace, landscaped courtyard, fitness center, on-site leasing office, and community lounges
FAR calculation of 4.0 achieved through various affordable housing incentives, requiring 53% of units to be rented at 80% AMI under the 12-year MFTE program
Incredible location provides immediate access to Spring District, Downtown Bellevue, and Redmond employment hubs with proximity to Highway 520, Interstate-405, and various transit options
Surging growth surrounding the site in conjunction with its irreplaceable location support strong future rental demand; four major office developments currently under construction within a three-mile radius that will add 5M+ SF of new office space and include expansions for both Amazon and Microsoft; completions slated for late 2024 and 2025
Fully-Entitled Development Site with Permits In-Hand, Minutes from Microsoft HQ & Bel-Red Light Rail Station
contact us to learn more
Mitchell Belcher
Managing Director 425.891.9594 mitchell.belcher@berkadia.com
Steven chattin
Managing Director 425.269.3826 steven.chattin@berkadia.com
jay timpani
Managing Director 206.999.3206 jay.timpani@berkadia.com
chad blenz
Senior Director 206.491.2008 chad.blenz@berkadia.com
brandon lawler
Senior Director 206.484.8114 brandon.lawler@berkadia.com
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offices in bellevue & seattle
bellevue
411 108th Avenue NE
Suite 1080
Bellevue, WA 98004
206.521.7220
seattle
601 Union Street
Suite 3909
Seattle, WA 98101
206.521.7220
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overview
deal room
contact
listings
parcel no.
2725059147
nrsf
144,063
zoning
BR-CR
Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada.
© 2024 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit www.berkadia.com/licensing.
Managing Director 425.891.9594 mitchell.belcher@berkadia.com
Managing Director 425.269.3826 steven.chattin@berkadia.com
Managing Director 206.999.3206 jay.timpani@berkadia.com
Senior Director 206.491.2008 chad.blenz@berkadia.com
Senior Director 206.484.8114 brandon.lawler@berkadia.com
Low vacancy in the submarket has allowed higher tier properties to see significant rent growth— over the past year, Bellevue’s average rent growth reached 6.5% with properties rated 4 and 5 Star seeing growth around 8.5%, one of the best performances in the region
Low vacancy in the submarket has allowed higher tier properties to see significant rent growth—
over the past year, Bellevue’s average rent growth reached 6.5% with properties rated 4 and 5 Star
seeing growth around 8.5%, one of the best performances in the region
david sorensen
Managing Director 206.351.5222 david.sorensen@berkadia.com
Managing Director 206.351.5222 david.sorensen@berkadia.com
David sorensen
Managing Director 206.351.5222 david.sorensen@berkadia.com