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New high-rise planned for Bellevue's medical district
A new high-rise is in the works for Bellevue's emerging medical district.
Healthcare Realty is developing a seven-story, 190,000 square-foot medical office building at the Overlake Hospital Medical Center campus on 116th Ave. NE.
The $90 million facility is scheduled to open in August 2011 as the Overlake Medical Pavilion.
Construction crews have already begun foundation work for a below-grade parking garage that will hold approximately 740 vehicles.
The building will house mostly independent practitioners, but is sized to provide space for staff from Overlake Hospital, according to Amy Poley, vice president of real estate investments at Healthcare Realty.
Poley said she is confident the complex will be full, despite a down real-estate market.
"We're very bullish on the Puget Sound in general, but definitely Bellevue and the Overlake campus," she said.
Healthcare Realty is leasing land for the medical building from Overlake Hospital.
The facility is expected to be the city's first LEED (Leadership in Energy and Environmental Design) medical office building, with developers anticipating Silver certification.
Poley said the complex will include a green roof and multiple energy-efficient features, as well as storage, parking, and showers for cyclists.