Have you heard the news? Kemper Development Company is moving forward with the expansion of the wildly successful Lincoln Square in Downtown Bellevue. I have a little bit of a different spin on the project because of the impact it will have on current and future condo owners. The picture above shows the current skyline as of this year – the image directly below shows what the skyline will look like after the expansion.
Dating back to 2010, I was introduced to some clients who had expessed a sincere interest in owning a condo at One Lincoln Tower (see below). As many of you know, One Lincoln was the signature piece of Kemper’s original development – It features the Bellevue Westin(303 units), with 148 condominium units in the 450 foot building. My clients were focused on an end-unit plan (the 01’s) on the eastside of the building. As you can see the photo above, the east side of One Lincoln Tower would be directly impacted by the future development of the hotel, residences and the office space. As we investigated further, the “unknown” of when the project was going to be built ended up being too much for my clients to move forward with the purchase. What they realized was that the views were not completely in jeopardy, but the impact of years of construction were their greatest concern. This has been a topic of discussion for One Lincoln Tower owners for years. I personally feel that the expansion is a great addition to the city and ultimately it will increase property values for everyone. With that said, there are other condo owners in the city that will see this differently.
This new development by Kemper will also impact the west facing views of Bellevue Towers. I’ve always been impressed with the Bellevue Towers sales team for addressing this issue during their tours. The topic of skyline changes is brought up often during their showings – especially when they are showcasing their most coveted west facing units. In my experience, they have disclosed the potential impact of Kempers expansion, and have made it very clear that the skyline in Bellevue will change over time.
Not matter how you look at it, the impact on the city skyline will be significant. The new proposed buildings will be 450 feet high. This is the same height as the current One Lincoln structure and the exact height of Bellevue Towers as well. It has been reported that plans for the new expansion will cost $850m. The project will include a 120 room hotel, a residential tower of 200 units, 545,000 square feet of office space and 392,000 square feet of retail space. I’ve included some photos below. Many of them were collected during the investigative phase on the view impact(s) for owners at One Lincoln Tower. As always, you can contact us with any questions you may have.