Downtown Retail: Bellevue’s Future Revealed
The Bellevue Downtown Association hosted "The Future of Downtown Retail" panel discussion, moderated by Monica Wallace, Executive Vice President and Director of Retail at Kidder Mathews, as part of its Downtown Talks Breakfast Series. The event was hosted at the Meydenbauer Center on the morning of Tuesday, April 23rd featuring a delicious breakfast, networking, and the opportunity for industry leaders to share their insights on the progress of commerce, culture, and community on the Eastside.
Brad Jones: Leaning Into The “Retail-tainment” Concept
Brad Jones, Executive Director at Visit Bellevue, set the stage by enlightening guests about Bellevue's ascent as a premier destination in the Pacific Northwest. As the city’s official destination management and marketing organization, Visit Bellevue spearheads initiatives to stimulate economic growth and enhance the quality of life for residents and visitors alike. Jones highlighted the coming opening of Avenue Bellevue, as a testament to Bellevue’s commitment to blending retail with dining, entertainment, arts, and wellness – a trend he calls “retail-tainment”.
Alesha Shemwell: The Bellevue Collection's Magnificent Momentum
Alesha Shemwell, Director of Retail at Kemper Development Company, shed light on The Bellevue Collection’s pivotal role in shaping Bellevue’s retail landscape. Noting that the shopping center is the second most visited destination in Washington state, behind Seattle-Tacoma International Airport, The Bellevue Collection attracts 22 million visitors annually to its 200 retail shops, 80 dining options, and 3 hotels – all seamlessly connected by sky bridges. With new residential options, luxury dining, and retail experience projects on the horizon, The Bellevue Collection will continue to evolve as a beacon of tourism on the Eastside.
Robert Arron: Elevating Bellevue's Skyline and Streetscape
Robert Arron, Senior Director of Real Estate at Vulcan Real Estate, shared details about the company’s latest two completed projects. 555 Tower, completed in Q4 2023, is now Bellevue’s tallest skyscraper at forty-two stories. The tower includes 28,000 SF of retail space anchored by a ground-level retail pavilion that Arron calls “a stunning jewel box in the middle of skyscrapers”. West Main is a collection of three sixteen- to seventeen-story buildings, with a total of 33,000 SF of retail space on Main Street between Main and Second. Arron believes these projects set themselves apart from traditional retail experiences by attracting tenants who want to build a unique destination outside of major retail clusters.
Jesse Canedo: Fostering a Flourishing Retail Ecosystem
Jesse Conedo, Economic Development Strategist at The City of Bellevue is responsible for helping to provide business input and experience into the processes and regulations at City Hall. Jesse and his team foster collaboration between retail leaders and stakeholders to ensure a vibrant culture and economy. Canedo highlights the city’s work to support 20M SF of office space and 18M SF of retail space across the city. With 67 corporate headquarters and 90 international firms, Bellevue “creates an incredible mix of people who are interested in a variety of retail and entertainment experiences”.
Navigating the Post-Pandemic Retail Landscape: A Roadmap to Recovery
As the panel discussed the post-pandemic retail landscape, each offered their perspectives on Bellevue’s resilience and resurgence. Brad Jones praised Bellevue for its recoveries in tourism and hospitality, citing a 95% rebound in 2023 and stating that “we’ve moved away from a recovery strategy and now we’re returning more to growth, optimization, development, and sustainability strategies”. Alesha Shemwell emphasized The Bellevue Collection’s commitment to combatting organized retail theft by maintaining a close relationship with the Bellevue Police Department and navigating supply chain issues by consistently communicating with retailers and assisting in promoting customer experience.
Charting the Course: The Impact of Transportation on Retail Resurgence
With the opening of Sound Transit’s Line 2 on Saturday, April 27th, Bellevue’s light rail expansion promises to introduce a new era of foot traffic. Panelists agreed that the light rail will be a game-changer in stimulating tourism, enhancing employee commutes, and further increasing downtown activity. Brad Jones states “Bellevue needs to be a seven-day-a-week community” and that “transportation and connectivity stimulate tourism and retail prosperity”.
Pioneering the Future: The Quest for Retail Excellence
I asked Alesha about The Bellevue Collection’s specific strategies for attracting new retailers. She said, “We use a lot of research and look at the demographics. One of the things we’re seeing is that we have a very diverse community, but we’re also a leader in attracting the top retailers and restaurants of the Greater Seattle community. It’s a balance of looking where the needs are, what we already have, what’s doing well, and working to be the leader in the entire US. One of the things we’re seeing is that having mixed-use is so important to making good retail happen.”
Overall, the discussion offered a peek into Bellevue’s dynamic retail ecosystem, characterized by the alignment of innovation, resilience, and community. Bellevue is certainly moving towards an even more prosperous future.
