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REI reveals plans that could move headquarters to Bellevue
Mar 29, 2016, 2:11 PM | Updated: May 8, 2016, 2:12 pm
There’s nothing under construction quite yet, but the latest plans by REI show the outdoor giant is preparing for the future.
REI signed a non-binding letter to build a new headquarters in Bellevue, according to an email from the company. If the deal goes through, REI would move from Kent in 2020.
Related: Massive Bellevue urban neighborhood emerging
If REI did relocate its headquarters to Bellevue it would develop on 8 acres in the Spring District.
“We are confident in the process, but we do not have a formal deal,” an email from REI states. “The non-binding letter of intent allows both parties to pull out at any time, with no penalties. By the end of the summer, we will know either that we’re moving forward or that our search continues.”
Work began on the Spring District in 2014. Construction on the first phase of the neighborhood broke ground in June 2015. It is a 36-acre mixed-use urban neighborhood near the intersection of SR 520 and I-405. It will ultimately feature commercial, residential and retail including hotels, restaurants and shops.
The $2.3 billion project is one of the largest urban development projects on the West Coast. Work is being done in phases, with the eastern and southernmost blocks developed in Phase One. Development will eventually move north towards the future East Link rail station.
One of the benefits REI sees in the Spring District is the access to better mobility now and in the future. That includes a light rail station planned to open in the area.
“While we feel very positive about the site, the region is growing and it is no secret that current transit infrastructure is under pressure,” the email reads. “As a result, flexible workspaces, better technology and improved transit options will be crucial components of our planning process. We are encouraged that the region’s community leaders are planning to invest billions of dollars to improve local transit options, including miles of bike lanes.”
REI will know by summer if it will move its headquarters. It has been located in Kent since 1988.
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