March 16, 2026

With 304 Bellevue units planned, Alliance slaps down $30M for TOD site

Rendering by Urbal Architecture [enlarge]

What’ll finally get built.

That was fast. It was only two weeks ago that the DJC reported on the progress of the Broadstone 200 apartment plan in downtown Bellevue. March 11 was the deadline for appealing the city's SEPA determination of non-significance.

The following day, Thursday, came the $30.4 million land sale from Columbia Pacific Advisors to Alliance Residential. Both parties use LLCs in the deal. Columbia had acquired an old office building at 200 112th Ave. N.E. in 2007, then paying about $16.7 million for the 1.5-acre site. (The old structure was deemed a tear-down; it now looks to be vacant.)

Columbia then worked with Compton Design Office and Kendall/Heaton Associates on a handsome 16-story replacement building, with about 315,000 square feet of offices. That was unfortunately thwarted by the pandemic, work-from-home and near collapse of the office market.

Alliance and Urbal Architecture subsequently filed their 304-unit apartment plan in mid-2024, not long after Broderick Group's Tyler Slone, Eric Meussner and Paul Jerue listed the property. It's just west of the freeway, on the corner of Second, and a short walk south to East Main Station.

Rendering by Compton Design Office and Kendall/Heaton Associates [enlarge]

The abandoned prior plan for new offices.

The land sale was worth about $443 per square foot. Alliance looks to have Carlyle Group as its financial partner, with the new owner of record being CRP X/AR Bellevue Owner LLC.

Photo via Broderick Group [enlarge]

And the doomed old building.

There's no sign yet of a construction loan. The original three-story structure, from 1970, is still standing, but a demo permit was issued last year for the Brutalist-style building.

Alliance, which generally builds its own projects, hasn't declared a start date for Broadstone 200. It also has two significant multifamily plans on the east side of the freeway. Those are dubbed Broadstone East Wilburton and Broadstone North Wilburton, totaling about 718 units. Those sites haven't yet sold, but suffice it to say that Alliance has a very full plate in Bellevue. (Urbal is designing all three projects.)

The nine-story Broadstone 200 will span about 406,925 square feet, including amenities and 305 mostly underground parking stalls.