**Taylor Morrison to Convert Former Verizon Office Building in Bellevue Into Townhomes**
A former Verizon office building in Bellevue’s Eastgate neighborhood is set to be demolished to make way for a new townhome development by national homebuilder Taylor Morrison.
The vacant property, located at 3245 158th Ave. SE, was recently sold for $25.2 million. The buyer, KL LHB AIV LLC—associated with Kennedy Lewis Investment Management of New York City—acquired the site from a Rainier Pacific Properties-affiliated LLC, which had originally purchased the building for $5 million in 2017.
Built in 1985, the building sits on just under four acres of land. Taylor Morrison plans to develop the property in phases, with a revised plan proposing 77 townhomes. The initial permit application filed in 2023 sought approval for 83 units.
Demolition of the existing structure is expected to begin later this year as the company moves forward with its plans to bring new residential options to the Eastgate area.
