Canadian company purchases downtown lots for 21-story tower

Published 12:48 pm Monday, September 28, 2015

Canadian firm Bosa Development purchased two lots in downtown Bellevue earlier this month for $22.8 million for a planned 21-story residential tower.

The firm purchased the lots Sept. 15 from the Bates Oil Company. The properties, on Bellevue Way between Northeast First Street and Northeast Second Street, are occupied by Robbins Brothers jewelry and two restaurants, Fatburger and Oma Bap.

Appraised value of the lots is approximately $13.04 million, according to King County records.

Plans for the development were presented in March. City records show the plan called for a tower “surrounded by” a four- or five-story podium. That plan also included underground parking and 20,800 square feet of commercial/retail space.

Bosa Development is in the process of completing work on Insignia by Bosa, a two-tower condominium project in Seattle. Residents began moving into the first tower in July. The second tower is on track to open next summer.