Real Estate Editor
Looking southwest, Stone is at left and 39th at right.
Demolition has been ongoing for several weeks now at 3831 Stone Way N., to remove about three old structures, but it wasn’t clear until recently that the anticipated apartment project would then proceed.
Exxel Pacific now looks to be setting up operations in earnest, on behalf of Prometheus Real Estate. They have a master use permit, secured last year, for a seven-story 230-unit building.
SeaLevel Properties is the local development partner, and it now calls the building Yonder. Privately held Prometheus is based in the Bay Area, and has been run by the Diller family since the 1960s.
MG2 and Jones Architecture, of Portland, designed the roughly 280,000-square-foot Yonder, which also includes some retail and about 158 underground parking stalls.
There’s no sign yet of a construction loan. Work should take about two years to complete, on a sloping site also bounded by North 39th Street. Construction will be Type III-A wood over Type I-A concrete. The project entered design review, about three years back, with a nominal value of $74 million.
The Yonder team also includes Place (of Portland), landscape architect; Coughlin Porter Lundeen, structural and civil engineer; Emerald City Engineers, MEP; Bee Consulting, energy consulting; GeoEngineers, geotechnical; TenW, traffic consultant; Cross2 Design Group, envelope; and Bush, Roed & Hitchings, surveyor.
Yonder replaces old buildings that previously housed a cannabis shop, Renee Erickson’s Sea Creatures restaurant business, an Episcopal bookstore and a garden center.
Most all the same parties are also working on a 169-unit Prometheus project in central Fremont, dubbed Frank, to replace the old Harvey Family Funeral Home — where a demo permit hasn’t yet been issued.
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