Plans for 2.4MM SQFT Mixed-Use Development Main Street Place

Bellevue, Main Street Place, Hines, Benenson Capital Partners, USAA Real Estate
Courtesy of GGLO

By Kate Snyder

More growth is on its way to downtown Bellevue as a proposal for a mixed-use development moves its way through the City’s review process.

The proposed master plan for Main Street Place, located at 103 110th Ave. NE, Bellevue, is under review by city planning officials, according to public records, and the review process could last up to 12 months.

Last year, Hines, an international real estate firm, along with Benenson Capital Partners and USAA Real Estate, announced the downtown Bellevue project. The original announcement included approximately 90,000 square feet of retail and amenity spaces, public open space and pedestrian corridors throughout the site.

In total, public records show the proposed project will include more than two million square feet – approximately half of which is slated for parking. The proposal includes two commercial office towers and two residential buildings with 343 units.

Additionally, the project will also include an outdoor plaza space, street frontage improvements, interior landscaping and lighting as well as 2,133 planned parking stalls in below grade parking structures.

Per Hines’ announcement, Main Street Place “will sit less than one block away from a future light rail station, scheduled to open in 2023, which will connect this site to downtown Seattle, Seattle-Tacoma International Airport and Microsoft’s headquarters in Redmond.”

According to its website, Hines was founded in 1957 and is a privately owned global real estate investment, development and management firm, with a presence in 28 countries. The firm has 198 developments currently underway around the world.

Representatives with Hines were not immediately available for comment.

Main Street Place is not the only development making recent strides in downtown Bellevue.

In a partnership with Guntower Capital, MRM Bellevue LLC is developing a seven-story mixed-use project located at 10350 NE 10th Street. Runberg Architecture Group is the firm responsible for the design of the project, dubbed “Bell10”, according to previous reporting from The Registry.

The project team plans to demolish an existing single-story building and associated surface parking lot on the site to make way for the residential project, which will include 102 apartment units and 2,000 square feet of retail and restaurant uses on the 0.36-acre site, according to previous reporting from The Registry.

Earlier this year, Schnitzer West, a real estate investment, development and property management company, announced the development of a 19-story office building called The Arcadian in downtown Bellevue, according to previous reporting from The Registry. That development will feature 458,000 square feet of rentable space and is expected to break ground in 2023 with delivery in 2025.

A number of residential projects have also been proposed in Bellevue in recent months. Local developer SRM and local nonprofit housing developer DASH also announced earlier this year plans to build 235 new affordable housing units near downtown Bellevue, according to previous reporting from The Registry.