X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

SEATTLE-Aegis Living, a Redmond, WA-based operator of senior care properties is developing a senior care complex in Bellevue, WA. The 86-unit property is under construction on 1.45 acres and is expected to open in 2010.

The development site is 148 102nd Ave SE, which was previously home to the Bellewood Apartments. Aegis executive Brian Poggi tells GlobeSt.com that after several months of planning and negotiations with property owner Polygon Northwest Aegis recently acquired the property and contracted with Polygon to construct the new assisted-living community.

“It’s an incredible location,” Poggi says. “The demographics – the home values, the age of the population, etcetera — those things look very good for our business.”

Nokina Bellevue LLC, an Aegis-related entity that includes Deejaycee Senior Services LLC paid approximately $6.15 million for the property (including sales tax), according to county property records. The project’s estimated total development cost was not immediately available. Company founder Dwayne Clark was not available for comment.

Set to open in early 2010, the new location will include 68 assisted living units and 18 memory care units. Amenities will include a private movie theater, library, massage room and a salon plus a card room, craft room and exercise facility. The community also will include secured underground parking and a variety of dining options.

The facility will be Aegis’ 12th in the Puget Sound and second in Bellevue. The company recently opened Varenna, a community in the Bay Area, will begin construction on one in Palm ester this quarter and expects to break ground next year for Bear Creek Lodge, a Redmond, WA project that, like Varenna, Aegis likens to a resort hotel.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. APARTMENTS SPRING 2021Event

Join 1000+ of the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.