A belt (30) for suspending and/or driving an elevator car (14) includes a plurality of tension elements (32) extending longitudinally along a length of the belt, at least one tension element of the plurality of tension elements having one or more tension element coating layers (46) applied thereto. A plurality of fibers are interlaced with the plurality of tension elements forming a composite belt structure. A belt coating (44) at least partially encapsulates the composite belt structure.