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September 10, 2025

With $73M loan, SRM appears poised to start on 230 Bellevue units

By BRIAN MILLER
Real Estate Editor

Rendering by Studio Meng Strazzara [enlarge]
Perle is one of four SRM apartment projects in Bellevue.

Back in 2021, in downtown Bellevue, SRM Development paid $30 million for the vacant Silver Cloud Inn at 10621 N.E. 12th St. Working with Studio Meng Strazzara, it then advanced a seven-story, 230-unit apartment plan. Most of the permits for the Perle apartments are well into process, if not all fully approved.


 
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