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November 18, 2022

422 Bellevue units planned on prime downtown site

Real Estate Editor

Rendering by Weber Thompson [enlarge]
Looking southwest, the plan hasn’t yet entered design review. Offers for the land were due in September.

At the very end of last year, the large REIT Welltower acquired the Pacific Regent retirement community in downtown Bellevue. That was part of a bigger national portfolio sale from Watermark. For its over $50 million investment here, Welltower got a 17-story, now 35-year-old tower at 919 109th Ave. N.E. , lots of surface parking and a few minor odd structures.

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