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April 28, 2021
Trent Development yesterday announced it started construction of its 268-unit Tapestry mixed-use project at 104 12th Ave., on the border of Seattle's Central and Yesler Terrace neighborhoods.
Seattle-based Trent is developing the six-story building with partners Hatteras Sky and Bridge Investment Group where Seattle Curtain Manufacturing once operated. The DJC reported last year that Trent paid about $20 million for the site.
When it opens in early 2023, Tapestry will have a mix of studio, one- and two-bedroom apartments, along with 14,000 square feet of ground floor retail. Trent says 56 units will target those in the workforce earning 65%-85% of the area median income.
Amenities will include a penthouse with club room, a game room with billiards and foosball, a rooftop lounge with outdoor kitchens and firepit nooks, a fitness room with climbing wall, a coworking lounge and library, 84 bike storage stalls with a repair station, and wash stations for both bikes and dogs. Two levels of parking will have 119 stalls and charging ports for electric vehicles.
Tapestry is across the street from the First Hill streetcar line, which connects to Pioneer Square, downtown, Little Saigon, Japantown, Chinatown International District and Capitol Hill.
The project team is led by W.G. Clark Construction and architect Clark Barnes. Blanton Turner is in charge of leasing and building management.
A signature design element of Tapestry will be the integration of art and architecture. Trent says, through a half-million-dollar public art program led by curator William Gaylord of Bonfire art+culture+design, Tapestry will feature art pieces focused on the cultural heritage of the neighborhood. An art concept for the southwest corner of the building was designed by local Native American artist Jeffrey Veregge.
“We are honored to be partnering with a diverse and talented group of local artists to celebrate the rich history of Seattle's Central District,” said Marshall Ling, Trent Development's director of design, in a news release. “12th and Yesler is a gateway corner for the neighborhood, and we hope to shine a light on the people and artists who have contributed to its thriving culture.”
Trent has seven Opportunity Zone projects planned or underway, with a focus on transit-oriented development and attainable apartments for transit workers, health care professionals, public employees and others in the workforce. Last month, Trent broke ground on the 206-unit Hilite apartment complex in the Judkins Park neighborhood, also an Opportunity Zone project.
Federal Opportunity Zones offer tax advantages for investors.
Hatteras Sky is a commercial real estate development firm based in Atlanta specializing in conventional development, Opportunity Zone projects and historic rehabilitations. Bridge Investment Group is a privately held real estate investment management firm with over $25 billion in assets under management.