The city of Bellevue is negotiating the purchase of a 1.5-acre parcel of land from King County for future development sometime after Sound Transit completes its East Link extension.
The vacant commercial parcel at 11101 N.E. Sixth St., between City Hall and the Meydenbauer Center, was purchased several years ago by King County Metro, but never developed. The city is now waiting for the King County Council to place a potential sales-and-purchase agreement on its agenda.
“What it would be used for between now and approximately 2023 is a portion of that parcel would be used for the Northeast Sixth Street (light rail) station, but then the parcel would also be used for staging for construction of light rail,” said Emily Christensen with the city of Bellevue. “… It’s a prime piece of real estate, and no decisions have been made on what will go there.”
The assessed value for the property is $14.9 million, according to King County records, however, the potential cost to the city of Bellevue is confidential until a final purchase agreement is reached.
Christensen said the land is zoned for downtown development, which means it would be allowed to have a number of uses, including high-rise development. Bellevue’s real property division assists in real estate transactions, which the city conducts in order to complete projects and secure assets that may benefit the city in the future.