Bellevue-Redmond RapidRide (Bus Rapid Transit)
The Transit Now Initiative to expand Metro Transit service was approved by King County voters in November 2006.  The measure was intended to help Metro keep pace with regional growth by expanding service 15 to 20 percent over the next 10 years.  Under Transit Now, Metro is developing RapidRide, a bus rapid transit service.  RapidRide will provide frequent, reliable bus service along certain major corridors.  The Bellevue-Redmond RapidRide will connect Downtown Bellevue, Crossroads, Overlake and Downtown Redmond beginning in 2011.
http://transit.metrokc.gov/up/archives/2008/belred-rr-0108.html

Sound Transit Phase 2
This project is concurrent with planning for Sound Transit Phase 2, which includes the East Link project to extend high capacity transit (HCT) across Lake Washington to downtown Bellevue, Overlake and downtown Redmond. The extension of high capacity transit (HCT) can improve transportation options for employees and customers in the area, as well as future residents or visitors. The scoping report, which can be found at the link below, describes the alignments Sound Transit is considering for the light rail line as it travels through the Overlake Neighborhood.
http://www.soundtransit.org/x3245.xml 

City of Bellevue: Bel-Red Corridor Project
Bellevue is currently working on a planning project for the Bel-Red Corridor, which adjoins Overlake. The purpose of this project is to define a long-term (through 2030) vision for the Bel-Red corridor, including a future direction for land use (type and intensity of development), transportation, and other community facilities, such as parks and trails.
http://www.ci.bellevue.wa.us/bel-red_intro.htm