August 19, 2025

Replacing Burgermaster, Compass to build huge project near U Village

Renderings by Encore Architects [enlarge]

Amenities will include a second-floor pool, gym, cinema, club room and dog spa.

A few steps east of University Village, near Five Corners, the vacant Safeway and Burgermaster were demolished earlier this summer. Quarterra closed on its 4-acre land sale, for $70 million, back in March. The approved plan at 3020 N.E. 45th St. is for a large midrise apartment project with 796 units; that secured its master use permit last year.

The project, designed by Encore Architects, broke ground yesterday, Quarterra announced. Mayor Bruce Harrell and City Council President Sara Nelson joined the ceremonies.

Planning began in early 2022, with Quarterra always indicated as the builder. But no, Compass Construction has now been announced as the general contractor. Quarterra estimates that 300 to 400 jobs will be created during construction.

Also new to the effort is MacNaughton, a multifamily investor that's based in Hawaii. It calls the effort “one of the largest multifamily projects ever planned in Seattle.”

[enlarge]

Quarterra calls the project Seattle’s largest multifamily building to break ground since 2020. This view looks northwest from Five Corners.

Indeed, the unnamed project totals about 944,700 square feet. That includes amenities, some 26,000 square feet of retail/commercial space and about 680 structured parking stalls.

Quarterra calls the project Seattle's largest multifamily building to break ground since 2020. It benefits from the city's Mandatory Housing Affordability program, which covers 48 units, and the multifamily property tax exemption program, which includes another 160. (The latter provision does eventually sunset.) Thus, about 26% of the units will be affordable when the building opens.

MacNaughton says that'll be in late 2028. That family-run investor and developer entered our market three years ago with its $53 million purchase of the Keelson apartments in Ballard. (That's since been rebranded as the Elinor.)

Quarterra, part of publicly traded Lennar, didn't announce the land sale this spring. At the time, there was a recorded $275 million construction loan from two insurance companies and related entities.

MacNaughton separately announced its partnership in the project a few weeks after the land sale. It then also said, “MacNaughton is also honored to be joined in this investment by Japan-based Nomura Real Estate Development Co., Ltd., Keihanshin Building Co., Ltd. and Kintetsu Real Estate Co., Ltd.”

So the project financing seems to have changed since March. Quarterra now says the construction sales tax will be around $21.5 million.

The team also includes Fora, landscape architect; McCullough Hill Leary, legal services; Terrane, surveyor; KPFF, civil engineer; Ground Support, shoring; Vida, interiors, and CQN, structural engineer. There's no indication yet as to a retail broker.

On its irregular, gently sloping site, the midrise project will comprise three linked buildings, presenting mostly seven to eight stories to passersby. The two structured parking decks will be ringed by retail, with the notched main entry on 45th.

Units aren't specified by type, but look to run from large studios (aka open one-beds) up to a few three-beds. Sizes are listed in a range from 555 to 1,114 square feet. So student housing is clearly not the goal here.

About 125 parking stalls will have EV charging; tenants will have 620 bike stalls. Other amenities will include a pool, gym, cinema, club room and dog spa.

Quarterra places the project in Laurelhurst, whose residents are very particular about the boundaries for that exclusive enclave. You could also call that area the south end of Ravenna/Bryant.

But, really, U Village is fast becoming its own residential neighborhood, attracting the recent interest of Quarterra, Alliance Residential, Phoenix Property Co. and Aegis Living. More are sure to follow — particularly on Union Bay Place Northeast (the northeast boundary of Quarterra's trapezoidal site), where a half-dozen old industrial buildings still await redevelopment.

Safeway, which closed two years ago, won't return to the completed building. Its corporate parent Albertsons was the seller this spring. The family-run Burgermaster, a tenant since 1952, closed in January; there's no indication that it'll return to the completed Quarterra project.