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Listings/156th Bel-Red Development Site
156th Bel-Red Development Site
Under Contract
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Site Details
Opportunity
A premier opportunity to deliver 216 multifamily units in the heart of Redmond’s highly desirable Overlake neighborhood.
The subject property is a premier transit-oriented development opportunity at the gateway to Overlake Village’s revitalization. Located just 0.4 miles from the Overlake Village Light Rail Station, the site offers a 12-minute commute to Downtown Bellevue and direct access to Microsoft’s Redmond campus, with full Seattle connectivity expected by 2026, positioning the project to capture a 15–20% transit-driven rent premium.
The nearly 59,000 SF OV-zoned site is planned for 216 residential units and 182 parking stalls and is surrounded by major employment anchors, including Microsoft’s 50,000+ employee headquarters. With immediate access to SR-520 and proximity to both Redmond and Bellevue amenities, the site offers a rare opportunity to deliver a best-in-class multifamily community in one of the Eastside’s strongest and fastest-growing corridors.
Location
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156th Bel-Red Development Site
15440 NE Bel-Red Rd
Redmond, WA 98052
Units: 216
Price: Pending
About the Area
Redmond: A Thriving Technology & Lifestyle Hub
Redmond is a nationally recognized center for innovation, home to world-class companies, top-tier education, and an exceptional quality of life. The city’s robust employment base—anchored by Microsoft’s global headquarters—has made it one of the fastest-growing and most desirable markets in the Pacific Northwest. Redmond residents enjoy abundant recreational amenities, from the Sammamish River Trail to Marymoor Park, as well as a vibrant dining, retail, and cultural scene. With the full cross-lake connection to Seattle’s 1 Line anticipated by 2026, Redmond is set for unprecedented connectivity to Seattle and the region’s major employment hubs.
67%
of Residents have a Bachelor's Degree or Higher
50K+
Microsoft Employees in Redmond
$160K
Median Household Income
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