September 15, 2025

AvalonBay pays over $15M for Redmond site near station

Photo via Cushman & Wakefield [enlarge]

Looking south, Timberlawn has four buildings with 40 units.

The Timberlawn Apartments, at 15850 N.E 40th St. in Redmond, sold last week for a little over $15.6 million, according to King County records.

The seller was original developer Timberlawn Associates, of Los Angeles, which acquired about 2.2 acres in 1986, then put up the garden apartments. Those now appear doomed.

The buyer was, in a sense, the neighbor. AvalonBay Communities made the purchase via Eaves Redmond Campus II LLC. The Eaves apartments lie directly west of Timberlawn, and are poised for a major redevelopment under the rubric of Avalon Redmond Technology Station, or ARTS, which could total around 2,500 units in several new midrise buildings. The DJC first reported that 27-acre plan in March. AvalonBay hasn't yet announced a start date.

Timberlawn's brokers, at Cushman & Wakefield, were Tim McKay, Matt Kemper, Dan Chhan, Jacob Odegard, Dylan Roeter and Byron Rosen. The apartments went on the market last year. Considered only for the dirt, the deal was worth about $160 per square foot.

Both the Eaves and Timberlawn are about a five-minute walk west to Redmond Technology Station, with the Microsoft campus also steps away, on both the east and west sides of the freeway.

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AvalonBay hasn't yet filed any plans for Timberlawn, which has four two-story buildings with 40 units. The broker's listing indicates that 31 are furnished as extended-stay suites or corporate housing. There's also a pool and about 65 parking stalls.

Back at the Eaves, AvalonBay replaced five small old buildings with a 214-unit midrise project that opened two years ago. The rest of the original complex, developed circa 1990, has 44 low-rise buildings and about 374 units. The general plan is to divide the Eaves into five parcels, then redevelop in phases.

AvalonBay is working there with the Eaves ownership, which is led by Tishman Speyer. It's probably also to become an owner before construction begins. CollinsWoerman is the master planner for the Eaves effort — which will eventually continue east to the Timberlawn property.