Resmark, Intracorp to build 273 apartments in northeast Seattle
Resmark Apartment Living said it has teamed up with Seattle-based Intracorp to develop two northeast Seattle apartment buildings.
One is a seven-story, 161-unit building at 4545 Eighth Ave. N.E. in the University District, and the other is a six-story, 112-unit building at 1020 N.E. 63rd St. in the Roosevelt neighborhood.
Intracorp received master-use permits for both projects earlier this year and has filed for construction permits. Both projects are slated to break ground in the first quarter of 2013.
The Eighth Avenue project has been designed for students and young professionals. Units will range from 385 to 754 square feet, including studios, one-bedroom and two-bedroom floor plans.
The Roosevelt project will be similar, with units that range from 385 to 800 square feet. It will have four live-work units in addition to studios, and one- and two-bedroom apartments.
Both properties are designed with green elements, including systems to improve indoor-air quality and energy efficiency. The buildings will offer new technology intended to appeal to Gen-Y residents.
Both will be within walking distance to public transportation and offer bike storage.
A portion of the units in both buildings will be leased under affordable housing guidelines.
Exxel Pacific is the general contractor for both projects.
Nicholson Kovalchick is the architect for the Eighth Avenue building. Other project team members are Bush Roed & Hitchings, civil engineer; Yu & Trochalakis, structural engineer; Pressler Engineering, mechanical engineer; AES, electrical engineer; and Rengstorf Associates, landscape architect.
The designer for the 63rd Street building is Runberg Architecture Group. Other consultants include KPFF, civil engineer; Yu & Trochalakis, structural engineer; Pressler Engineering, mechanical engineer; and AES, electrical engineer.
Los Angeles-based Resmark is a private equity firm focused on real estate. The company said it has made four investments in single-family and multifamily projects in the greater Seattle area this year.
Brokers Corey Marx, David Young and Seth Heikila from Jones Lang LaSalle represented Intracorp in structuring the joint venture for both deals.