Resmark and Intracorp Plan Seattle Rental Communities
- Oct 01, 2012
Seattle—The northeast side of Seattle will soon welcome two new apartment communities to be developed by Resmark Apartment Living and Intracorp. Construction on both buildings is slated to begin in early 2013.
A 161-unit, seven-story rental property in the University District at 4545 8th Ave. Northeast will be geared to students and young professionals. It is to be sited just a half mile from the University of Washington, walking distance from dining, retail and entertainment. Studio, one-bedroom, one-bedroom-with-den and two bedroom apartments will extend in size from 385 to 754 square feet.
A portion of the apartments will be leased under affordable housing guidelines.
The other property, a 112-unit, six-story building at 1020 Northeast 63rd St., will offer contemporary studio, one- and two-bedroom apartments, including four live-work units, ranging from 385 to 800 square feet in size. Located in a neighborhood of single-family homes, this apartment community will be five miles from Seattle’s downtown business district, and close to major employers.
This building will also include units leased under affordable housing guidelines.
“Seattle is a strong apartment community,” Ziv Cohen, chief operating officer, Resmark Apartment Living, tells MHN. “These new developments are located in areas that are popular with young professionals and students. One is very near the university, and both are in walkable neighborhoods surrounded by abundant retail, restaurant and entertainment options.”
Both apartment communities will give residents the most advanced technology, offering access and connectivity “Generation Y” residents expect. In addition, each will be a sustainable building featuring systems and programs to improve energy efficiency and indoor air quality. Because both buildings are within walking distance to public transportation and provide ample bicycle storage, both will also do much to eliminate unnecessary vehicle traffic on Seattle streets.
“We know this market well and have tailored these apartments to appeal to the young professional who wants an environmentally friendly, modern living environment,” Liz Soldano, vice president of residential development in Intracorp‘s Seattle office, which has two decades of experience in infill residential development on the West Coast, and has developed 19 projects and more than 2,200 multifamily units in the greater Seattle area.
“Communal areas for working or socializing are also a priority to this demographic, and are key features in these new properties,” she adds.
An active investor in the western U.S., Resmark has made four investments in single-family and multifamily projects in the greater Seattle area in 2012.