If you don’t already know, downtown Bellevue is going through a strong period of growth. The economic market is booming, jobs are on the rise, and residents continue to move closer to the city.
Constriction is expanding and many projects are either in review or breaking ground. According to the Bellevue Downtown Association, 1.6 million square feet of office space is under construction and another 6.2 million square feet is planned. This also includes retail, restaurant, and hotel space – 560,446 square feet of retail + restaurant, 1,447 hotel rooms, 5,304 residential units.
In 2000 downtown Bellevue was home to only 2,421 residents. By 2010, Bellevue was home to 7,147 residents. At the beginning of 2020, Bellevue is now home to about 14,200 residents. All in all, that is a 487% increase in residential population growth in downtown Bellevue alone!
What is driving this growth? Bellevue’s job market. We continue to see more and more companies concentrate in the city’s center with plans to expand. In 2000, downtown Bellevue was home to 32,600 workers. In 2011, the number of workers jumped to 41,283. This year, the number hit 55,000 workers. This is a 65% increase in workers since 2000 and there are no signs of slowing down anytime soon.
To read the full Bellevue Downtown Association article, click here.