Planned Legacy Community to Draw on Appeal of Silicon Canal
By Alex Girda, Associate Editor
As the tech cred of Seattle continues to grow, the city is witnessing an escalation in the number of residential projects designed and built in order to accommodate the young professionals that will be populating the new office complexes. Among them is a new project by Legacy Partners Residential in the increasingly tech-driven Stone Way area. The company is set to develop its new community near the Google offices there.
Legacy will start construction sometime during 2014 on its planned residential project, according to the Puget Sound Business Journal. The developer plans to build a 276-unit apartment community on a 1.7-acre site located at 3801 Stone Way N. Legacy recently acquired the site in a deal worth $12.3 million. According to the business journal, it is still unclear whether the building will have four or five stories.
Stone Way has seen a growing influx of tech companies arrive and create an image for the area that has earned it the moniker Silicon Canal.
Nearby, another site will become the new, 120,000-square-foot headquarters for Brooks Sports. Such growth in the neighborhood’s job market offers prospects for success of Legacy’s planned apartment complex.Tags: Conventional - Market Rate, Developers, Development, economy, Finance/Investment, Financiers, Investors, Legacy Partners Residential, Local, multi-family, multifamily development, National, Owners, Professional, Regional, Residential, Seattle housing market, Seattle Lead Story, Silicon Canal, Stone Way