$500M Bellevue Sound Transit Project Moves Forward

BELLEVUE, WA — Sound Transit took another big step this week for a large development planned around the new Eastside light rail base in Bellevue — a project valued at more than $500 million.

The "transit-oriented development" will span nearly seven acres along the BelRed corridor, situated next to the new operations and maintenance facility and across the street from the Spring District light rail station. Sound Transit's board voted to approve "key transaction terms" for the development Thursday.

"From the beginning, the promise of light rail has been an opportunity for Bellevue to think big and create a new urban neighborhood," said Bellevue Mayor Lynne Robinson. "This important step represents the culmination of many years of hard work by the City of Bellevue and Sound Transit to create hundreds of new, affordable homes for Eastside families within walking distance of public transit and other quality-of-life amenities."

Over the next decade, the project is designed to create:

• Approximately 500 units of housing, including 280 affordable units for residents making between 30% and 80% of area median income.
• More than 400,000 square feet of office space.
• New retail and residential amenities.
• A new public park.

"Together, through creative engineering and partnerships, this area will now have not only a maintenance base, but also affordable housing, office, retail and a park, all within a short walk to the Bel-Red light rail station,” said Claudia Balducci, chair of the Metropolitan King County Council. “Sound Transit and the City of Bellevue are working together to meet the needs of Eastside transit riders, residents and employees and I’m excited to see this transit-oriented development project contribute to the kind of welcoming neighborhood we have always planned for the BelRed area around our new light rail service."

Sound Transit worked alongside Bellevue officials for years to come up with a plan to develop the land around the Eastside's new light rail base, called "OMF East," which will house and maintain nearly 100 trains.

The East Link — or the 2 Line — will begin service in 2023, connecting fourteen miles of track and 10 new stations between Seattle and Redmond. The Redmond Link extension, slated to open in 2024, will add another 3.4 miles of service and two stations, reaching the downtown core and Marymoor Village.

"The economic development that is accompanying our Eastlink rail expansion must benefit everyone and we are thrilled that this project will deliver affordable housing alongside market rate housing, office and retail spaces surrounding our new maintenance facility and rail station, allowing residents quick access to opportunities on a light rail network stretching from Redmond to Seattle to Lynnwood and Federal Way by 2024," said Sound Transit CEO Peter Rogoff.

Sound Transit and Bellevue both contributed an acre of land to the project free of charge, valued together at $12 million, officials said. Earlier this year, Amazon committed $100 million to support affordable housing projects near new light rail stations across Puget Sound, through its Housing Through Equity Fund.