New Bellevue Apartment Tower to Replace Retail Space
Jul 9, 2026, 11:04 AM
425 Magazine
American Capital Group has filed for Design Review and Shoreline Substantial Development permits in order to construct The Kelsey, an eight-story apartment building in West Bellevue, the Bellevue Downtown Network has reported.
The proposal would require the demolition of an existing retail space at 929 118th Ave. SE, which is currently occupied by Greenbaum Home Furnishings and Renaissance Rug Corp.
The new apartment tower will be 356,809-square-feet and contain 222 units — about 20% of which will be designated as affordable housing.
The Kelsey is planned to have roughly 270 parking stalls, plus other outdoor amenities that include courtyards on the second floor and a fifth floor terrace. The first floor will feature a rain garden, dog area, and other green spaces. Indoors, amenities will include a residents lounge, fitness center, coworking space, spa, and game room.
The building would be constructed next to Altaire at East Maine, an income-restricted apartment community currently being built at 995 118th Ave. SE. Altaire at East Main will be a 146-unit multifamily building, with units reserved for those making between 30% and 60% of the area median income.
There will be a combination of one-, two-, and three-bedroom units available. Construction on The Kelsey is slated to begin in September 2027 and conclude in September 2029.
