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May 1, 2015
Spectrum Development Solutions has broken ground on the second of its three apartment projects near Yesler Terrace.
This one is called Decibel and it is at 301 12th Ave. Decibel will have 75 units, 3,000 square feet of retail and 20 parking stalls.
Opening is set for fall 2016.
Gracorp Capital Advisors and PNC Real Estate are Spectrum's financial partners. Mithun is the architect, Walsh Construction Co. is the general contractor and Hewitt is landscape architect.
The team will target LEED gold and seek Built Smart certification from the city.
Spectrum's three apartment buildings will have a total of 280 “workforce” units for teachers, medical professionals and others. A quarter of the units will be affordable housing, some for people making less than 65 percent of area median income and some for those making less than 85 percent.
The buildings are designed to complement each other and will share amenity spaces.
“Together they are a family of projects,” Jake McKinstry, principal of Spectrum, said in a press release. “Decibel is the more lively and edgy of the three.” It is located directly on 12th Avenue with an open, loft-style retail concept on the ground floor, as well as a club room and fitness area.
The first building — Anthem on 12th — opens this month, with 120 units at 103 12th Ave. It is the first private development at Yesler Terrace.
The third building is Reverb, at 1023 E. Alder St. Construction will begin on the 85-unit Reverb in June, and it also opens in fall 2016.
All three buildings are near the future First Hill Streetcar line, and there will be a Pronto bike share location at Anthem. These alternative forms of transportation allow Spectrum to save money by building less parking and offer lower rents.