Bellevue Council Approves BelRed Arts Affordable Housing

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  Bellevue City Council unanimously approved a development agreement for the BelRed Arts Multifamily Project“The council also unanimously approved a development agreement for the BelRed Arts Multifamily Project, a 100% affordable housing development planned for the BelRed Arts District.”
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  The BelRed Arts Multifamily Project is a 100% affordable housing development“The BelRed Arts site, purchased by the city in 2020 and designated for affordable housing, is moving forward through a public-private partnership with BRIDGE Housing. Under a long-term lease, BRIDGE will develop mixed-use, artist-focused housing. The development agreement provides flexibility with how it can be built while ensuring important community benefits, including dedicated affordable units and creative spaces. This agreement will help deliver about 60 of the expected 172 housing units and supports ongoing efforts to expand housing choices in the BelRed area.”
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  The BelRed Arts Multifamily Project is planned for the BelRed Arts District“The BelRed Arts site, purchased by the city in 2020 and designated for affordable housing, is moving forward through a public-private partnership with BRIDGE Housing. Under a long-term lease, BRIDGE will develop mixed-use, artist-focused housing. The development agreement provides flexibility with how it can be built while ensuring important community benefits, including dedicated affordable units and creative spaces. This agreement will help deliver about 60 of the expected 172 housing units and supports ongoing efforts to expand housing choices in the BelRed area.”
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  The project is on city-owned land purchased in 2020“The BelRed Arts site, purchased by the city in 2020 and designated for affordable housing, is moving forward through a public-private partnership with BRIDGE Housing.”
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  The project will be developed by BRIDGE Housing under a long-term lease“Under a long-term lease, BRIDGE will develop mixed-use, artist-focused housing.”
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  The agreement ensures 60 of the expected 172 housing units will be affordable“This agreement will help deliver about 60 of the expected 172 housing units and supports ongoing efforts to expand housing choices in the BelRed area.”
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  The agreement includes dedicated creative spaces for artists“The development agreement provides flexibility with how it can be built while ensuring important community benefits, including dedicated affordable units and creative spaces.”
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  The development is part of broader efforts to expand housing choices in the BelRed area“This agreement will help deliver about 60 of the expected 172 housing units and supports ongoing efforts to expand housing choices in the BelRed area.”
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  The council also reviewed a parking reform land use code amendment“Council advances citywide parking reforms for new developmentIn other business, the council reviewed the Planning Commission’s recommended parking reform land use code amendment.”
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  The parking reform land use code amendment will modernize parking regulations citywide“This proposal will modernize Bellevue’s parking regulations and align them with the city’s comprehensive plan and state law mandates.”
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  The parking reform land use code amendment will align with state law requirements“State law requires substantive reductions in minimum parking requirements as well as the elimination of parking minimums for small homes, affordable housing and properties near light rail or bus rapid transit. The code update will apply consistent minimum parking ratios citywide and includes an incentive for developers to provide wider parking stalls by allowing a reduction in required parking when stalls are striped at nine feet or wider. The update will also consolidate Bellevue’s parking regulations into one clear section of the land use code.”
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  The parking reform land use code amendment will reduce minimum parking requirements for certain developments“State law requires substantive reductions in minimum parking requirements as well as the elimination of parking minimums for small homes, affordable housing and properties near light rail or bus rapid transit. The code update will apply consistent minimum parking ratios citywide and includes an incentive for developers to provide wider parking stalls by allowing a reduction in required parking when stalls are striped at nine feet or wider.”