High Street Residential (HSR), the residential branch of Trammell Crow Company (TCC), recently finalized the purchase of a nearly one-acre development site in Seattle’s Roosevelt district for $5.9 million. The company has announced plans to build a 244-unit multifamily building on the property, with construction set to begin in late 2024 and completion expected by 2026.
According to Alan Cantlin, principal at HSR, this is one of the most desirable locations for multifamily development in Seattle. Its proximity to the Roosevelt Light Rail Station offers residents an easy commute into downtown Seattle within just 11 minutes. Additionally, there are numerous retail options and over 400 acres of public parks and green space within walking distance from the site. Cantlin looks forward to moving ahead with this project and breaking ground later this year.
The land transaction involved seven different parcel owners, six of whom were represented by real estate attorney Stephen J. Crane from Crane Dunham PLLC while one was represented by Chris R.Austin and Ian MacMillan from Windermere Real Estate Co.TCC was represented by Candice Chevaillierand Daniel Limfrom Lee & Associates.
Chevaillier expressed her pride in all parties involved who worked together successfully on this complex project.She believes that it will resultin a high-quality,densely populateddevelopmentwith excellent access topublic transportation,and will provide much-needed housingtotheSeattle market.
