Seattle, WA
High Street Residential Closes on Land in Seattle for Multifamily Development
High Street Residential, Trammell Crow Company’s Residential Subsidiary, Will Develop a 244-Unit Apartment Community in Seattle’s Roosevelt Neighborhood
July 29, 2024
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High Street Residential (HSR), the residential subsidiary of Trammell Crow Company, a global real estate developer, closed on a nearly one-acre development site next to the Roosevelt Light Rail Station and announced plans for a future 244-unit multifamily building at the property. HSR is planning to break ground in late 2024.
The project, which is scheduled to deliver in 2026, will feature a mix of unit sizes, ranging from studios to two bedrooms, including open one-bedroom layouts as well as one-bedroom + den apartments. The project will offer residents a two-story co-working space, a rooftop clubroom with indoor and outdoor spaces with views of Mt Rainier, a fitness center, and ground-floor retail along Roosevelt Way NE.
“We believe that this is one of the best multifamily development sites in all of Seattle,” said Alan Cantlin, Principal with HSR. “The location right next door to the Roosevelt Light Rail stop will offer residents an easy 11-minute commute into downtown Seattle. In addition, the site has convenient access to a variety of retail amenities and more than 400 acres of public parks and green space, all within walking distance. We look forward to the next steps in the development process and to breaking ground later this year.”
The land transaction included seven different parcel owners, six of whom were all represented by real estate attorney and developer Stephen (Steve) J. Crane of Crane Dunham PLLC and one of whom was represented by Chris R. Austin and Ian MacMillan of Windermere Real Estate Co. TCC was represented by Candice Chevaillier and Daniel Lim of Lee & Associates Commercial Real Estate Services.
“We are incredibly proud of all of the stakeholders who were able to work together to make this complex project happen,” said Chevaillier. “This closing marks true success and will create a high quality and high-density development with excellent access to public transportation and supply much needed housing to the Seattle market.”
Trammell Crow Company
Trammell Crow Company (TCC) is a global commercial real estate developer and wholly-owned subsidiary of CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas. Founded in 1948, TCC has developed or acquired nearly 2,900 buildings valued at $75 billion and over 655 million square feet. As of September 30, 2024, TCC had $19 billion of projects in process and $13.4 billion in its pipeline. With 575 employees throughout the United States and Europe in 26 offices, the company serves users of and investors in office, industrial/logistics, healthcare, life science, data center and mixed-use projects, as well as multi-family residential through its operating subsidiary High Street Residential. For more information visit www.TrammellCrow.com.
High Street Residential
High Street Residential, the residential subsidiary of Trammell Crow Company, specializes in the development of multifamily housing. We have a deep background in urban, infill mixed-use residential development, as well as the redevelopment or repurposing of existing facilities. In the last 15 years, the firm has completed over $4 billion with a current pipeline of more than 6,500 units. For more information, visit www.highstreetresidential.com.