GRE pays $14M for Bel-Red land

September 23, 2013 – Source

REDMOND – An entity related to Goodman Real Estate paid $14.25 million for land for a 452-unit apartment complex on Bel-Red Road near Microsoft’s campus.

Property records list the seller as Angelo Toppano.

Goodman’s complex at 2070 Bel-Red Road will have four buildings that range between four and six stories. They will be built in phases.

Crews began site work and the parking garage Sept. 1.

The first tower will be on the west end of the complex, and is expected to open in January 2015. The south tower will follow in May, and the north and east towers will open in August.

Grouparchitect is designing the project, and Venture General Contracting is the general contractor.

Goodman must include 36,500 square feet of low-income housing, or pay as much as $3 million in fees in lieu of building the units.