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December 11, 2014
Specialty: Advancing sustainable practices while developing complex urban projects that include transit-oriented development, historic preservation and adaptive reuse; commercial projects that make positive impacts on their communities
Management: Kevin Daniels, president; Alan Cornell, senior vice president; Carl Shumaker, vice president
Founded: Daniels Real Estate LLC was formed in 2007 to carry forward the long development history of its sister company, Nitze-Stagen & Co.
Headquarters: Starbucks Center, Seattle
Projects: Stadium Place; Fifth + Columbia; St. Edwards Seminary; Grid Iron
Daniels Real Estate is behind some of the biggest projects in Seattle, including Stadium Place on the north lot of CenturyLink Field. Kevin Daniels, president of Daniels Development, talked about the company’s projects and what is happening in the Seattle real estate market.
Q: What trends and issues face the industry right now?
A: I think the amount of international capital looking to invest in Seattle is a great sign about how the world looks at our city and our future growth. This will have a significant and positive impact on our community for many years to come.
Q: What sustainable practices are you using in your projects?
A: We have been advancing sustainable practices well before it became fashionable. Currently we have a lot of practices in place from macro to micro from minimizing the carbon footprint on each project, to exploring new technologies that save energy in our managed properties, to researching and incorporating new, leading green design ideas in our new development projects.
Q: How has your company changed over the past five or so years?
A: Not much. We have been stable in terms of employment and projects, but obviously enjoying a much stronger economic cycle than five years ago.
Q: What are the best ways to make sure housing in Seattle is affordable?
A: Every citizen needs to play a part and not just a few. This also means that we need to look at new models for creating affordable housing, outside of the norm, including incentivizing private developers to participate.
Q: You are doing utility work at Fifth + Columbia. How is Seattle’s office market as you prepare to start the building?
A: Yes, we are now shoring the site and will be breaking ground in the spring of 2015. The company’s mission is to develop complex and challenging dense, urban real estate projects that make significant impacts on the communities in which they are located. We take a very long-term approach to investment so we were able to pause. We now see the Seattle market place moving in the right direction with the job growth to justify the demand behind new office use. Fifth + Columbia will open in 2017.
Q: What are your thoughts on the resurgence of Pioneer Square. What else is needed there?
A: The neighborhood has only laid the foundation for success and we still need more market rate housing. Without a large increase of housing units in Pioneer Square, the neighborhood will be doomed to repeat its past challenges as an 8 a.m.-to-5 p.m. district rather than a true community where you can work, live and play. Stadium Place helped seed the resurgence, but more housing is needed to sustain it.