**796-Unit Apartment Project Near University Village Breaks Ground**
Construction is officially underway on a major multifamily development at the former Burgermaster drive-in site, located at 3040 NE 45th Street in Seattle. The project, valued at $400 million, will bring 796 apartment units and approximately 944,700 square feet of mixed-use space to the area near the popular University Village shopping center.
The development is led by Quarterra, a subsidiary of Lennar Corp., in collaboration with real estate investment and development firm MacNaughton. Once completed, the property will feature 26,000 square feet of retail and commercial space to further enhance the University Village neighborhood.
The 1.8-acre site, where a Safeway store once operated for several decades, was purchased by Safeway’s parent company, Albertsons Cos., in 2021 for just over $25 million. Earlier this year, Lennar finalized the acquisition of the remainder of the property from Albertsons for $70 million.
As part of Seattle’s Multifamily Tax Exemption and Mandatory Housing Affordability programs, the development will allocate more than 200 of its units as below-market apartment homes, aimed at enhancing affordable housing options in the city.
The project’s first phase is expected to be completed and open to residents by early 2028.
