Offices to give way to condos in Bellevue

A longtime cornerstone of downtown Bellevue, the old Puget Sound Energy headquarters, is coming down this week to make way for twin condominium towers the developer anticipates will be one of the region's most energy efficient new residential projects.

Called Bellevue Towers, the project at the corner of 106th Avenue Northeast and Northeast Fourth Street, will feature 565 condominiums atop retail shops, a restaurant and parking. The 42- and 43-story towers are to be completed in the fall 2008. Condo prices are projected to range from $400,000 to $7 million for units 700 to more than 6,000 square feet.

Bellevue Towers is one in more than a dozen new residential projects turning downtown Bellevue from a shopping and business core into a 24-hour live-work environment. That transformation is one reason Bellevue Towers' developer, Gerding/Edlen Development of Portland, was attracted to the city, spokeswoman Margo Spellman said.

"[The company] has a history of going into downtown areas because it fits with the sustainable message they're focused on where they have a vibrant, walkable space," she said.

Among the firm's recent projects are Portland's Brewery Blocks, which transformed the old Henry Weinhard brewery and adjacent area into retail, office and residential space.

In Los Angeles, Gerding/Edlen unveiled the city's first downtown housing development in two decades. The 700-unit condo project near Staples Center sold out in seven hours, Spellman said.

Gerding/Edlen principal Scott Eaton said he hopes Bellevue Towers will appeal to buyers interested in architecture and sustainability.

"We're absolutely passionate about the design of this project," Eaton said. "Inside and out, this is going to be a project appreciated by people who are interested in architecture and who care immensely about design."

The towers' facades will be curved glass curtain walls that let in lots of light — an energy-saving feature — yet also allow for recessed decks. Project designers are Bellevue's Mulvanny G2 Architecture and GBD Architects of Portland.

The $500 million project incorporates renewable building products and energy-saving techniques, and the developer hopes it will be recognized by the U.S. Green Building Council, which certifies projects that meet those standards.

A sales office will open in July in the Key Bank building, 10655 N.E. Fourth St. For more information, visit the project Web site at www.bellevuetowers.com.

Elizabeth Rhodes: erhodes@seattletimes.com