A Bellevue developer led by a former tech executive is teeing up an eight‑story apartment building in downtown Kenmore, a move that would drop a sizable chunk of new rental housing into the city’s main corridor. The group says it bought the site in August 2024 and is aiming to start construction later in 2026.
According to the Puget Sound Business Journal, the project is being advanced by bConnections and is planned as an eight‑story apartment building. The paper reports the site changed hands for $1.05 million in August 2024, and the developer told the publication it expects to break ground sometime in 2026.
Who’s Behind the Plan
The proposal comes from bConnections, a real‑estate venture led by Ajay Sikka, a Seattle‑area technology executive who has run and advised software companies. Public records list Sikka in executive roles at software firms; additional background on his business career appears in TraQiQ’s regulatory filings. TraQiQ’s SEC filing names Sikka and outlines his corporate roles.
How This Fits Kenmore’s Market
Developers pitching mid‑rise apartments point to regional housing pressure and solid rental demand. Local snapshots show Kenmore is hardly a bargain bin for buyers: Redfin recently pegged the city’s median sale price in roughly the $900,000 range, while Zillow estimates typical home values above $1 million. Those price tags help explain why new rental projects keep landing on the drawing board.
Timeline and Next Steps
The developer told the Puget Sound Business Journal it expects construction to begin later in 2026. Before any shovels hit the ground, though, the project still has to navigate Kenmore’s permitting and design‑review process.
As with similar mid‑rise proposals, the next stretch will likely feature public hearings and detailed reviews of parking, traffic and neighborhood scale. That is the phase where residents usually start weighing in on everything from building height to how many cars the project might bring to nearby streets.
We will track filings with the City of Kenmore and public permitting records as the project moves ahead, and will report on any formal submissions, design‑review dates or city statements that follow.
