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Overview

Begun in 2019, Avenue, this billion-dollar complex of two residential towers and a low-rise commercial building, featured approximately 330 apartment units and an InterContinental Hotel in Downtown Bellevue, WA. It occupied an L-shaped location that front on NE 8th Street and had its short axis terminate on Bellevue Way NE. It was planned to replace parking lots, a one-floor retail space (at 10300 NE 8th Street), formerly housing Cost Plus World Market built in 1959, and another commercial space to the north at 905 Bellevue Way NE. The corner retail development at 821 Bellevue Way NE, to the east of the new complex, would remain.

Building History

This building responded to the heightened demand for upscale housing and luxury hotel rooms in Downtown Bellevue. This demand was fueled by the rapid expansion of high-tech businesses in Bellevue, Kirkland and Redmond during the first two decades of the 2000s. A Bellevue developer, Fortress Group, LLC, commissioned the Seattle architectural firm of Weber + Thompson, PLLC, and the Santa Monica-based hospitality design firm of Hirsch Bedner Associates, to design the two-tower and low-rise retail complex.

The blog, Downtown Bellevue Network.com, wrote of the development in 11/2018: "The development, which is planned to have two towers, will have 330 luxury residences, as well as an InterContinental Hotel. The hotel is planned to have 251 guest rooms, meeting space, full-service spa and fitness center and more. 106 of the 332 residences will be 'estate homes,' which will allow residents to access InterContinental Hotel services like housekeeping, room service, concierge assistance and other posh amenities. Other features of Avenue Bellevue will be 75,000 square feet of retail space, four levels of underground parking, and a new restaurant from a 3 star Michelin chef. The project is slated to cost more than $1 billion." (See Kara, Downtown Bellevue Network.com, "Avenue Bellevue, Mixed-Use Project, Announces InterContinental Hotel," published 11/28/2018, accessed 07/31/2019.)

Fortress paid $31.5 million to Nancy and Frank Duncan for a portion of the property on 10/27/2016. Dating back to 1999, deed to the property changed hands 17 times, largely among three families, the Franks, Duncans and Rossens. The value of the property and its improvement shifted from $14,227,800 in 2017 to $40,525,400 in 2018 and $43,154,600 in 2019.

Building Notes

The Bellevue Arts Fair occupied the parking lot surrounding this commercial building each July.

PCAD id: 23023