A partnership of SRM and Haseko North America has broken ground on The Perle, a 230-unit luxury apartment community in downtown Bellevue within walking distance of Amazon’s expanding campus.
The seven-story development will offer over five million square feet of world-class retail and dining destinations. “We are excited to partner with Haseko on The Perle, which we hope will be the first of several projects together to address the growing shortage of housing in core markets across the western US,” said Ryan Leong, Managing Principal, SRM.
Construction starts are down over 70% across primary markets nationwide, with several markets experiencing a complete halt in starts, according to JLL. In the Seattle metro, the first quarter saw no new starts, and building permit issuances fell to their lowest level since 2011. The Perle is expected to open in late 2027.
“We are thrilled to continue our expansion in the PNW. In partnership with SRM, we look forward to delivering quality housing in one of the nation’s leading employment centers” said Laurie Mathers, Head of Investment & Asset Management at Haseko North America, Inc.
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