Esterra Park facts for kids
| Location | Redmond, Washington |
|---|---|
| Status | Under construction |
| Constructed | 2014 onwards |
| Use | Mixed-use development (office and housing) |
| Companies | |
| Developer | Capstone Partners |
| Technical details | |
| Cost | $900 million |
| Buildings | 12 |
| Size | 28 acres (11 ha) |
| Leasable area | 3.0 million square feet (280,000 m2) |
Esterra Park is a large building project in Redmond, Washington. It's a special type of development called "transit-oriented." This means it's built close to many ways to get around. These include buses and a future train station.
The project covers about 28-acre (11 ha) of land. It will have a total of 3.0 million square feet (280,000 m2) of space. Esterra Park is expected to be home to about 8,000 people. This includes both residents and workers.
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What is Esterra Park?
Esterra Park is part of a new area in Redmond called Overlake Village. This new neighborhood is about 175 acres big. It is located near Bellevue, Washington.
The original plans for Esterra Park were quite ambitious. They included space for offices and shops. There were also plans for many homes and a hotel. A public park was also part of the design.
Over time, the plans changed a bit. The number of homes increased to 2,900. The amount of office space was reduced. This change happened because more people needed homes in the area.
Overlake Village: A Growing Community
The Overlake area is very important. It's home to major companies like Microsoft and Nintendo of America. Many people work here, with about 46,000 jobs.
The Puget Sound Regional Council says Overlake is a big growth area. It's expected to add 25,000 jobs by 2030. Also, 5,000 new homes are planned.
When finished, Overlake Village could be home to 40,000 people. It will be about half the size of South Lake Union in Seattle. The area already has bus stops and many shops nearby.
Getting Around Esterra Park
Esterra Park is a "transit-oriented development" (TOD). This means it's designed to make it easy to travel without a car. You can walk, bike, or use public transport.
There are many ways to get around from Esterra Park. These include:
- Buses: The King County Metro RapidRide B-Line bus service is nearby.
- Freeway: State Route 520 connects to downtown Redmond and Seattle.
- Light Rail: A new train line, the East Link light rail extension, is being built. The Overlake Village light rail station is set to open in 2023.
How Esterra Park Started
The land where Esterra Park is being built used to be a medical campus. It belonged to a health care provider called Group Health.
The Overlake Village neighborhood itself was first built in the 1960s and 1970s. Recently, the City of Redmond changed the rules for this area. They wanted to allow more buildings and people. This was part of their plan for the Overlake Urban Center.
Group Health created a big plan for redeveloping their site. This plan was finished in 2011. The Esterra Park project is the first major new development in Overlake Village.
Construction and Growth
Capstone Partners bought the property from Group Health in March 2013. Soon after, they started tearing down the old buildings.
Construction on the first new building began in June 2014. By the end of 2014, work started on two more buildings. The entire project is expected to take several years to finish.
By 2017, 500 homes were already completed. Another 1,000 homes were being built. Plans were made for up to 1,400 more homes. This was because more people needed housing, and less office space was needed at the time. These extra homes will bring the total to 2,900.
