Agreement Reached with Prairie Hill Farm Nonprofit to Oversee $600M Development

At Bellevue’s City Council meeting Tuesday evening, the City of Bellevue entered into an agreement with the Prairie Hill Farm Development Authority to oversee the evolution of the new Prairie Hill Farm “village-within-a-village” project. The project includes the REACH building (Research, Engineering, Architecture Collaboration Hub), a $200 million dollar investment that will be a national cybersecurity hub. All told, the total cost of the development may reach $600 million. The council unanimously voted to approve the agreement.

In 2015, the City of Bellevue adopted a Redevelopment Plan that designated the Highway 34 Corridor District as an ‘Activity Center’. The plan mentions the purpose of the center is to create a pedestrian-scale village, allowing community members to work, shop, live, and enjoy the outdoors – all within close distance from their homes.

In 2022, the city purchased roughly 43 acres of land northeast of Highways 34 and 75 for $3.1 million. Prairie Hill Farm will be developed here, with the land designed to be mixed-use with medium-density residential, retail, and commercial centers, office space, and other public and civic areas. Green space and public facilities will also be developed.

The Prairie Hill Farm Development Authority was incorporated as a nonprofit entity in June 2022. Its purpose is to function as an independent establishment to design, develop, operate, and expand the Prairie Hill Farm property. The nonprofit will pay the city a set amount annually toward the purchase price.

State funding is being sought to help with the development. $20 million dollars was initially asked but more may be asked for this legislative session. While funding through public sources is expected, the project also anticipates receiving funds from philanthropy and private development.

Development rendering courtesy of HDR