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December 8, 2015
Emerald Bay Equity is planning about 250 housing units in a Roosevelt complex with up to three buildings.
The Seattle-based firm's project is called Iron Flats, and the site is at 802 N.E. 66th St. The project is set to go before a design review board next week for the first time.
Emerald Bay's preferred design for Iron Flats would have three buildings, 150 parking spaces and a central courtyard.
Joe Geivett, a co-owner and principal at Emerald Bay, said if all goes well with permits, he would like to begin construction in about a year.
Emerald Bay said in design documents that the large and uniquely shaped site makes it possible to break up the massing so Iron Flats will better match the scale of the existing neighborhood. Buildings on the eastern side of the site would be smaller to match the scale of nearby structures.
Open space in the center will bring natural light into the units and meet design guidelines for new projects in the neighborhood, Geivett said.
The building will use the city's Multifamily Property Tax Exemption program, which gives property owners a tax exemption in exchange for making 20 percent of the units income-restricted affordable housing.
Iron Flats could be built in phases, according to documents. About 11 single-family houses could be demolished to make way for the project. Geivett said many of the houses in the area are under contract, or have been sold, and could be redeveloped.
Like other Emerald Bay projects, brick and other masonry materials will be a big part of the Iron Flats design.
“A building should look like it's been there forever, so we go with high quality and long-term materials,” Geivett said.
Skidmore Janette is the architect.
The design review meeting is set for 6:30 p.m. Dec. 14 at University Heights Community Center, 5031 University Way N.E.
Emerald Bay said in the documents that Roosevelt is evolving, and mid-rise housing and commercial structures are becoming more common in an area once known for single-family houses and low-rise apartments.
With light rail set to open in Roosevelt by 2021, development there is picking up. Emerald Bay has another project in the neighborhood: A 79-unit complex at 6800 Roosevelt Way N.E. called Medora. That building is under construction, and it is expected to open in about a year, Geivett said.
Lake Union Partners recently opened Rooster: 197 apartments on Northeast 65th Street near Roosevelt Way Northeast.
Mack Urban is constructing Eleanor: 260 apartments at Northeast 68th Street and Eighth Avenue Northeast. Eleanor is set to open in the second quarter of next year, according to Mack Urban's website.
Roosevelt Development Group, a firm founded by Jon Breiner and Ed Hewson, has development rights to 51 properties totaling 4.9 acres in the neighborhood. RDG told Puget Sound Business Journal in August it was planning a six-story, 225-unit apartment building at Northeast 65th Street and 15th Avenue Northeast.