Seattle’s Eco-Friendly Stream Uptown Community Begins Leasing
- Jan 21, 2013
By Jeffrey Steele, Contributing Writer
Seattle—Stream Uptown, a 118-unit, Class-A, mid-rise apartment community in Seattle’s Uptown enclave, has begun leasing residences. The announcement was made by Stream Real Estate LLC, a Seattle-based company focused on developing multifamily residential properties in the core of the Emerald City.
“As a company, we started with the premise that we would push the envelope with sustainability and environmental responsibility, along with financial viability,” Marc Angelillo, managing member, Stream Real Estate LLC, tells MHN.
“In each of our projects, we are searching for the next element we can add, and building upon what we achieved in the last project. Technology is making strides towards decreasing the carbon footprint of buildings. In our case, we budgeted for the mitigation from the beginning of the project. We were fortunate to have a great partner and program in Forterra’s C3, which allowed us to fully mitigate the carbon footprint of the building in our local Seattle community.”
Stream Uptown’s one- and two-bedroom luxury apartment homes range from 500 to 977 square feet in size, and rents start at $1,132. Direct access to the street is provided in some live-work lofts. Units feature modern two-toned cabinetry, stainless steel appliances, plank flooring and contemporary carpeting.
Sustainable features like Energy Star appliances, high-efficiency fixtures and environmentally friendly interior finishes are incorporated in floor plans. Balconies in many units feature views of the Space Needle and Lake Union.
The community has a fitness center, yoga studio, rooftop lounge and terrace with barbecue area. Bicycle storage and access to Zipcar will help serve many residents’ travel and commuting needs, and a number of electric car charging stations will also be made available to Stream Uptown residents.
The project is financed with a HUD 221(d)(4) loan, Angelillo says. Gaining that type of financing “is a unique process to go through,” he adds.
“While a few obstacles came up during the process, our sponsor, Berkadia Commercial Mortgage, worked with us to resolve those issues.”
Other challenges arose in working with technologies, such as the reverse cycle chiller, heretofore unused in Seattle on this type of project, Angelillo says. “In all these cases, the general contractor, Compass General Construction, the architect, NK Architects, and the various subs worked with us to find practical solutions to resolve the issues in a timely and cost-effective manner,” he adds.
Angelillo reports Stream Real Estate LLC will continue to build upon what’s been achieved at Stream Uptown, pushing the envelope on sustainability and lowering energy use. “For our current and future residents, we hope it provides a home they can be proud of, with the knowledge that it is not only a great building and community, but one that is sustainable,” he says.