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People & Companies

Sep 22, 2022

Weidner buys into Dallas

Local shop Weidner Apartment Homes has acquired the 396-unit Cityplace Heights in Dallas, according to the The Dallas Morning News and other sources. Terms were not announced, though a $75 million loan from Morgan Stanley was reported. Seller Sentinel Real Estate, of New York, acquired the five-story building in 2015. The deal brings Weidner's portfolio to over 58,000 units, with over 280 properties spanning a region from Alaska to Wisconsin.

New tenant at Crossroads

Barnes & Noble announced in May that it would depart its longtime home in downtown Bellevue, the former Belle Lanes bowling alley on 106th Avenue Northeast, for Crossroads . That new location will open on Wednesday, the bookseller recently announced. CEO James Daunt said in a statement, “Over the past few years, we have seen a renaissance amongst physical booksellers with growing book sales and very successful new bookstore openings. We are delighted to be able to invest in this beautiful new bookstore here in Bellevue.” Barnes & Noble also opened a new store last year at the Village at Totem Lake . The Pacific Place store closed early in the pandemic; that space is still vacant. Onni Group is planning a major redevelopment back on 106th, but hasn't announced a start date.

Timberlane announced 262 units in SLC

Timberlane Partners , which is based here in Seattle, is also active in Salt Lake City. There, the firm recently announced, it has broken ground on the five-story, 262-unit Back 9 development. Completion is projected for 2024. The project is a little south of downtown, in the West Valley area. Timberlane's John Chaffetz said in a statement, “We're thrilled to be planting a flag here with this development that is sure to add excitement to downtown West Valley.” Timberlane's partner in the project is Rich Day Group . Beecher Walker Architects designed the project, which Jacobsen Construction will build.

Sep 15, 2022

Ribbon snip in Kent

Developers GIS International Group and DMG Capital Group announced a ribbon cutting next Monday at 11 a.m. for their new 157-unit Madison Plaza in Kent. Also on hand will be dignitaries from the Master Builders Association of King and Snohomish Counties. GIS, which is led by Eugene Gershman (and who'll attend the ceremony), built the seven-story project, with IHB Architects as the designer. Mayor Dana Ralph will also be on hand. Thrive Communities will manage market rate and workforce-priced apartments. GIS says that amenities in the Built Green-certified project include two levels of retail, fitness center, game room with lounge area, bike roof, dog run and a rooftop gathering space. The apartments are about a 15-minute walk east to Kent Station.

Dermody Properties

Seeger

Dermody Properties announced the recent hiring of Benjamin Seeger as Northwest region partner. He makes the move from Amazon, where he worked in last-mile logistics. Dermody, of course, builds precisely those kind of buildings, with Amazon among its past tenants. Most operate under the LogistiCenter rubric. Seeger said in a statement, “I am thrilled to join the experienced and talented team at Dermody Properties, and to contribute to this fast-paced and dynamic region within the portfolio.” He'll work out of Dermody's Bellevue office with Phil Wood. In addition to his logistics background, Seeger is a real estate attorney with experience in acquisition, financing and development.

Skanska

Dealy

Dayna Dealy has been promoted to VP of development for our region at Skanska, the firm announced late last month. She's been with the firm for four years. Its Charlie Foushe said in a statement, “Dayna has been an integral part of the Skanska team and a vital driver in our work. Thanks to Dayna's exceptional work, we are one step closer to starting The Kaye and delivering the project to the Belltown community.” That 30-story, 323-unit project, at 2208 Fourth Ave., received its master use permit in May. A demolition permit appears near, and Skanska, acting as its own builder, will proceed with phased construction permits. VIA Architecture and Grzywinski + Pons are the designers.

New crane in the Triangle

There's a new crane swinging over the Denny Triangle, operated by Centreville Construction. The latter is an arm of Concord Pacific, also of Vancouver, B.C., which is partnering with local shop HB Management on what had been known as Seattle House. That long-brewing 45-story project at 2300 Sixth Ave. was once announced to be condos, then more recently pivoted to a possible 1,130 rentals. Excavation for the underground parking was completed during the pandemic, then the half-block project lay quiet for well over a year. Fellow Canadian firm IBI Group is the architect for the two-tower plan. There's no announced date for completion.

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