Vulcan Breaks Ground on 250 Apartments in Bellevue

Seeking to capitalize on Eastside job growth, Vulcan Real Estate recently broke ground on a 249 unit apartment building at 13238 NE Spring Blvd., adjacent to the future Bel-Red / 130th Street Light Rail Station, just east of the Spring District in Bellevue. This is Vulcan’s first multi-family development project in Bellevue.  The project will be called Ondina, which means "little wave" in Latin.  According to Vulcan:

A major water feature in the entry courtyard inspired us to base the interior design on a concept called “Blue Mind Theory,” a scientifically supported theory that shows how the presence of water, whether it be physical or visual, can make one calmer, happier, healthier, and more connected. Water will be symbolized throughout the building’s design....

The Blue Mind theory was developed by marine biologist Wallace J. Nichols, who wrote a book on the topic.

County records indicate the vacant 1.4-acre site was purchased by Bellevue Investors VIII, a Vulcan-affiliated LLC, in July 2021 for $17,915,000.  The seller was Shaw NW Bel Red Apartments LLC, who had purchased the parcel in March 2020 for $12,300,000.

The design features private patios in select units, a  fitness facility, co-working spaces and work pods, a butterfly garden, a rooftop lounge, fire pits, and barbecues.  Vulcan plans to enroll the development in Bellevue’s Multifamily Tax Exemption (MFTE) program, under which 20% of the units will be rent- and income-restricted for households earning 80% of area media income.

Exxel Pacific is the general contractor and Runberg Architecture Group is the designer.  Ondina is expected to open in early 2024, and is targeting LEED Gold and Salmon-Safe certifications.  The Bel-Red / 130th Street Light Rail Station is scheduled to open in 2023.