HSR and PGIM Break Ground on 351-Unit Multifamily Community in Bellevue, WA

High Street Residential (HSR), the residential subsidiary of Trammell Crow Company, and PGIM, the world’s second largest real estate investment manager with $218 billion in gross assets under management and administration,¹ have broken ground on Versant Bellevue, a 351-unit multifamily community in Bellevue, Washington. The residential community will consist of a six-story and an eight-story tower and will sit across the street from the East Main Light Rail Station, which will soon connect directly to Seattle. The project is scheduled for delivery in the third quarter of 2028.

Located at 11040 Main St., the new development will occupy 1.7 acres and will replace an existing two-story office building. The development team closed on the land on March 13, 2026. Chad Waldbaum of JSH Properties represented HSR in the transaction.

Designed by Weber Thompson, Versant Bellevue will include a mix of studios to three-bedroom units, with 71 of the 351 units marked as affordable. Community amenities will include a large outdoor courtyard, a rooftop terrace with outdoor barbecue stations, a fitness center, a coworking space, a club/lounge room with a fire pit, pet relief and wash areas, and secure package storage. The project is being built by Sierra Construction. Other project partners include Fora Landscape Architects and Coughlin Porter Lundeen (civil and structural engineer).

“Bellevue continues to stand out as one of the most dynamic and desirable places to live in the Pacific Northwest, and this neighborhood represents the best of what the city has to offer,” said Alan Cantlin, Principal with HSR in Seattle. “With major employers like Amazon just a short walk away, and retail and dining options in Old Bellevue down the street, this location already provides an incredible foundation for a vibrant residential community. But what truly sets Versant Bellevue apart is its proximity—across the street—to the East Main Light Rail Station. When the new line opens across Lake Washington, it will create a seamless connection between Bellevue and Seattle, which is nothing short of a game-changer for how people will live, commute, and experience the region. We’re thrilled to break ground on a development that puts residents at the center of it all.”

About PGIM
PGIM, the global asset management business of Prudential Financial, Inc. (NYSE: PRU) is built on a 150-year legacy of strength, stability, and disciplined risk management through more than 30 market cycles. Managing $1.5 trillion in assets², PGIM offers clients deep expertise across public and private asset classes, delivering a diverse range of investment strategies and tailored solutions—including fixed income, equities, real estate and alternatives. With 1,400+ investment professionals across 41 offices in 20 countries, we serve retail and institutional clients worldwide. For more information, visit pgim.com.

Prudential Financial, Inc. (PFI) of the United States is not affiliated in any manner with Prudential plc, incorporated in the United Kingdom or with Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom. For more information please visit news.prudential.com.

¹ As of December 31, 2025, net AUM is $139B and AUA is $50B. PGIM is the second largest real estate investment manager (out of 63 firms surveyed) in terms of global real estate assets under management based on ‘Pensions & Investments’ “The Largest Real Estate Investment Managers” list published November 2025. This ranking represents AUM as of 6/30/25. Participation in the ranking is voluntary and no compensation is required to participate in the ranking.

²As of December 31, 2025