Sep 19, 2019

Work starts on Everett waterfront apartments

Construction has begun on Everett Waterfront Place Apartments, which are part of the Port of Everett's larger 65-acre Waterfront Place. SeaLevel Properties and Gracorp are partnering on the two-building project, which will have about 266 units and total around 247,000 square feet. The four-story buildings, at 1300 and 1400 W. Marine View Dr., represent the first residential component to the broader redevelopment effort, which also includes retail, small offices, restaurants, a Hotel Indigo, parks and other amenities. SeaLevel is targeting 2021 for a phased completion of the north and south buildings.

SeaLevel's John Shaw said in a statement, “We believe the market is ready for this type of multifamily project in Everett, and pre-leasing interest continues to outpace our expectations.”

The team also includes Tiscareno Associates, architect; and Gracorp affiliate Graham Construction, general contractor. Financing came through a HUD loan and a 28-month, interest-only $66.8 million construction loan arranged by Stuart Oswald of NorthMarq.

Momentum, Legacy open 208 units in Lakewood

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The 208-unit Wellstone at Bridgeport, at 12535 Bridgeport Way S.W., opens today in Lakewood. The 208,000-square-foot, four-story project was developed by Momentum Partners and will be managed by Legacy Partners. BCRA was the architect, and Winsor Construction Co. was the general contractor. Also a developer in its own right, Legacy also manages over 60 properties with over 14,000 units, which it values at $2 billion.

Intracorp starts on Shoreline townhouses

Intracorp announced the start of construction on 81 townhouses in Shoreline. The project, located at 2356 N. 145th St., is very close to the future light rail station scheduled to open in 2024. (The city of Shoreline will also have a second, north station at 185th, where it has also upzoned the surrounding area.)

The yet unnamed development will feature homes from 1,300 to 2,400 square feet, with prices running from around $700,000 into the $900,000s. Completion is expected by 2021. Milbrandt Architects designed the project, which Intracorp will build. Intracorp's David MacDuff said in a statement, “By creating higher density housing options near rapid transit, incoming residents will have the rare opportunity to be within 20 minutes of downtown Seattle while being walking distance to the slew of mixed-use and commercial services already planned for this area.”

Hollywood Station adds new restaurant

Hollywood Station in Woodinville — aka the 23-acre former Redhook brewery — has a new eatery. Tenant Teatro ZinZanni, which relocated last year from its longtime rented home near Seattle Center, will open Wheelhouse next month. The restaurant will be run by chef Pierre Tumlin, a veteran from local kitchens including RN74, plus experience in San Francisco and the Cayman Islands. The general manager will be Brooke Bolin, who calls the vibe “farm to table gastropub.” The menu will follow next month.

The restaurant will be a stand-alone venture, separate from Teatro ZinZanni's usual dinner-and-a-show performances. Also on the campus are tenants Sparkman Cellars and DeLille Cellars; the latter is building a new three-story, 11,600-square-foot tasting room and store, also scheduled to open this fall.

Henbart starts on Kirkland development

Henbart announced that it has broken ground on the on the Parque Kirkland apartments, at 312 Central Way, on the site where a Wendy's once stood. Henbart acquired the site in 2016 for $3.2 million.

The four-story building will have 70 units and a Bartell Drugs. The latter, plus a coffee shop and co-working space will occupy about 22,000 square feet on the ground floor. The project also includes 155 mostly underground parking stalls. Graphite Design Group is the architect, and W.G. Clark Construction is the general contractor. The team also includes DCI, structural engineer; Hewitt, landscape architect; and PacLand, civil engineer. Total project size is around 144,200 square feet. Henbart will target LEED Gold certification for the project, with completion expected in the spring of 2021.

Pastakia about to break ground in Redmond

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Pastakia + Associates plans to begin construction this month on what it now calls Aria Flats. That six-story, 102-unit project is at 7705 168th Ave. N.E. in downtown Redmond, a site that's about two blocks east from the light rail station expected to open in 2024. Tejal Pastakia said in a statement, “Our residents will be just steps away from sustainable connections offering easy access to neighboring communities.”

The LEED Silver project also includes 2,100 square feet of ground-level commercial space and structured, stacked parking for about 101 vehicles. Encore Architects designed Aria Flats, and Compass Construction will build it. The team also includes VIDA, interiors; and Weisman Design Group, landscape architect.

Sep 12, 2019

ULI Emerging Trends

Save the date: The ULI's annual Emerging Trends gathering will be Oct. 16 at the Hyatt Regency Seattle (808 Howell St.). Mitch Roschelle of PwC will deliver his usual animated remarks. The event begins at 7 a.m. Details and registration: northwest.uli.org.

Conn. lender backs 2 local firms with $30M

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Knighthead Funding of Greenwich, Connecticut, announced two separate first mortgage loans worth almost $30 million to a pair of local developers.

For Vekst Development's new four-story Nors, at 5253 15th Ave. N.E. in Seattle, Knighthead loaned $4.6 million to complete the deck and minor punch list items. That project, with 28 SEDUs (small efficiency dwelling units), was designed by KOArchitecture and is being built by H. Armond Enterprises. And for Rise on 67th, at 829 N.E. 67th St. in Seattle, Knighthead provided over $25.5 million to pay off the construction loan and bridge the project through lease-up. That six-story, 178-unit congregate was recently completed by Barcelo Homes after beginning with Jim Potter of Footprint. Skidmore Janette was the architect, and Barcelo apparently built it.

Knighthead's Henry Boeckmann said of the projects, “Each property's proximity to the University of Washington, the light rail and all necessary amenities make both attractive housing options for tenants.” The lender has now backed three Seattle projects in the last nine months.

Columbia Hospitality inks management deal

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Developed a decade ago at 500 106th Ave. N.E., the Bellevue Towers condominium has joined the stable of properties being managed by Columbia Hospitality. The company's Michael Kosmin will manage the property. Columbia also manages the Escala and Cosmopolitan condos in downtown Seattle.

CREW luncheon

Sept. 19 is the date for CREW's “Women of Influence” luncheon. On hand will be panelists Susan Wagner of Microsoft, Renee Cheng of the University of Washington and Maria Barrientos of Barrientos Ryan. Cori Palmer of CREW will moderate. The event begins at 11:30 a.m. at the Grand Hyatt Seattle (721 Pine St.). Details and registration: crewseattle.org.

Keller Williams adds Sanchez to team

Keller Williams announced the hiring of Dan Sanchez, whose Seattle Home Advisors LLC was previously associated with Coldwell Banker Danforth. Sanchez moved from commercial brokerage to residential about a decade ago. Angie Mykel of KW said in a statement, “He brings a wealth of knowledge and experience. Dan will be a great fit, and all of our customers will truly benefit from him joining us.” Sanchez is an instructor for the Washington State Housing Finance Commission and the author of “Winning Seattle Real Estate.”