The development site is on the southwest corner of the intersection of 108th Avenue NE and NE 4th Street in Downtown Bellevue. The tower will be clad in transparent glass to maximize views. Tenant spaces will have full-height windows and 10-foot ceilings. Floor plates will be 23,000 sf. A half-acre outdoor plaza is planned for the project, as well as enough below-grade parking to offer tenants three spaces per 1,000 sf of leased space.

Hines SVP Colin Shepherd says the partnership has completed design development, and construction drawings are well underway. Below-grade construction work will re-commence in June, and above-grade work will begin in August, he says. The project was designed by LMN Architects. LCL is the general contractor.

Washington Capital Management is an independent employee-owned investment advisory firm headquartered in Seattle. The company invests pension fund monies in to union-built developments. It acquired the Tower 333 development site at a foreclosure auction in a 2002.

Hines is an international developer whose most recent Puget Sound projects include the 40-story, 845,000-sf IDX Tower at Fourth & Madison in downtown Seattle, completed in 2002, and the five-story, 100,000-sf Evergreen Plaza in Kirkland that was completed in 2003.

Several office projects are in the offing in Downtown Bellevue now that supply has been absorbed and vacancy is back in the single digits. Local developer Kemper Freeman began work earlier this year on the office portion of his Lincoln Square mixed use development; Bentall is preparing for the last phase of its Summit development; EOP is preparing for City Center II and Schnitzer Northwest is looking get under way on its mixed-use property adjacent Meydenbauer Center.