BELLEVUE, WA—Security Properties hopes to break ground next year on a 316-unit apartment project in the Spring District, a 36-acre development in Bellevue.
The Puget Sound Business Journal reported Wednesday that the company will work with Wright Runstad & Co., the Seattle-based developer of the 16-block Spring District. Security will buy 2.5 acres with an option to develop another 225 units on an adjacent property.
The companies did not disclose how much Security Properties will pay for the land. The Spring District will be the first development project on the Eastside for Seattle-based Security, which has bought or developed more than 66,650 residential units.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
