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The first phase of Sparc Apartments has opened, making the development the first residential property to open in the emerging Spring District neighborhood of Bellevue. Phase 1 consists of five buildings, offering a total of 309 apartments, townhomes and live/work lofts.
According to developer Security Properties, initial demand for the new apartment units at Sparc has been strong, with nearly 25% leased after only a month on the market. Adjacent to Sparc, the company is building Phase 2 of the residential development. Scheduled to open in late 2018, that phase will consist of three buildings and 279 units.
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Security Properties chief development officer John Marasco said that one of the goals of the property is to create a sense of place through designs that are not cookie-cutter.
“Each building will showcase its own unique personality through design,” he said.
The 36-acre Spring District will ultimately be home to more than 2,000 residents and 13,000 workers, as well as hotels, restaurants and retailers. REI will move its HQ to the neighborhood in 2020, and the Global Innovation Exchange, a partnership between the University of Washington, China’s Tsinghua University and Microsoft, will welcome its first students this fall.
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