Sound Transit, Bellevue make deal to shrink maintenance yard, put $60M into light rail tunnel
The city of Bellevue got a big win this week when Sound Transit agreed to reduce the size of a maintenance yard the organization plans to build near the Spring District.
The controversial rail yard was originally proposed at 25 acres, and has been reduced to 20 acres, with 1.6 million square feet of space along the outskirts for residential and commercial real estate, according to the Seattle Times. The $2.3 billion Spring District, modeled after Portland's Pearl District, is currently being developed by Wright Runstad.
As part of the deal, Bellevue will also pay $60 million less for the light rail tunnel that will go under the city.
The decision comes after months of negotiations, the Times reports.
http://www.bizjournals.com/seattle/morning_call/2015/04/sound-transit-bellevue-make-deal-to-shrink.html?ana=e_sea_rdup&s=newsletter&ed=2015-04-10&u=ColXVN5SPzQtLHFP87ho2w07857290&t=1428686671
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