Security Properties has submitted plans for the first residential development site for Phase One of The Spring District.

Selected by Wright Rundstad & Company and Shorenstein Properties to start off Phase One of the development, Security Properties proposes five residential towers to be located on a 2.53-acre site at 1227 124th Ave. N.E.

Four residential towers are proposed to be five stories tall and one at eight stories, providing 310 middle-income units.

Greg Johnson, president of Wright Runstad & Co. of Seattle, told the Reporter in January that construction is planned to start this year. Plans submitted with the city estimate completion by the second quarter of 2015.

“Every building is going to have retail at the ground level facing the street,” Johnson said, adding focus will be on small, local retailers. “We definitely don’t want to compete with Bellevue Square.”