Hines is partnering with Benenson Capital Partners and USAA Real Estate to develop a new mixed-use property in Downtown Bellevue. The property—which Hines says will serve as a gateway to the downtown area—will feature 1.2 million-square-feet of office space, 400 apartment units and 90,000 square feet of retail.

Named Main Street Place, the property is on nearly 7 acres with access to a light rail station that will give the property access to Downtown Seattle, Seattle-Tacoma International Airport and Microsoft's headquarters in Redmond. The property itself will also feature public open spaces and pedestrian walkways. Finally, the development team is using sustainable design and green living elements in developing the property. The developers have engaged Kohn Pedersen Fox, GGLO, A+I, Design Workshop and MKA for the property design, while Steve Kohn of Cushman & Wakefield is a consultant to the developers.

According to Hines, Bellevue is among the most active submarkets in the Seattle area—and it isn't the only developers with a major project. A partnership between Avenue Bellevue and Fortress Development recently secured a $700 million construction loan through Silverstein Capital Partners to build a two-tower luxury condo, hotel and retail development. The transaction is one of the largest recorded in the US since the start of the pandemic and the largest construction loan in Bellevue's history