|Reserve at Bellevue will be located at 724 Covert Run Pike in Bellevue.|
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Neyer Properties Inc. has broken ground on a residential development in Bellevue where Shady Terrace mobile home park on Covert Run Pike formerly sat.
Reserve at Bellevue is a single-family home development featuring 74 urban-style home lots on 16 acres and represented a total investment of $35 million.
The land was previously purchased this year for $565,000.
According to a release, amenities will include a 1-mile walking trail, gathering spaces with fire pits and grill areas, a reflecting pond and pedestrian bridges. Neyer Properties will be preserving six of the 16 acres of the site for a wooded amenity area. The walking trail will go through of portion of the wooded amenity area.
Neyer Properties worked with the city of Bellevue to create the vision for the site. The city also provided industrial revenue bonds to help pay for a portion of the infrastructure costs.
“It was a public, private partnership that brought this project to fruition,” Dobrozsi said.
“The Reserves development will be transitional for the city of Bellevue,” said mayor, Charlie Cleves. “We have taken a battered mobile home park to a higher and better use.”
Neyer Properties expects Reserve at Bellevue’s first homes, which will be at least six model homes, will be ready in summer 2022.