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Redmond advances memorandum of understanding with Bellwether Housing for commercial condo at Overlake Village project
Summary
Council heard details and questions about a memorandum of understanding for the City of Redmond to acquire a ground-floor commercial condominium in Bellwether Housing’s Prisma mixed‑use redevelopment near Overlake Village light rail station; staff requested placement of the MOU on the May 20 consent agenda.
City staff presented a memorandum of understanding with Bellwether Housing that would have the City of Redmond acquire a ground-floor commercial condominium in the Prisma mixed-use development near the Overlake Village light rail station, and requested the item be placed on the May 20 consent agenda.
Deputy Director Sarah Fee Allen said the draft MOU is a precursor to a purchase-and-sale agreement that staff expect to bring to council for approval in the third quarter of 2025. The city has included acquisition dollars in the capital improvement program and staff are pursuing grant funding to supplement the…
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