SEATTLE, Wash. (July 1, 2019) – Legacy Partners (Legacy), a privately-owned national real estate firm, announced today the groundbreaking of Legacy at Fauntleroy Apartments in West Seattle. The two-building community, located at 4722 Fauntleroy Way SW (seven stories) and 4721 38th Ave SW (four stories), will feature a 306-unit mix of one- and two-bedroom residences, as well as studios and live-work units. USAA Real Estate is providing equity financing for the development, with additional funding from PNC Bank.
Designed by Seattle-based Encore Architects, Legacy at Fauntleroy will have 261 parking spaces and 10,000 square feet of retail space, in addition to a state-of-the-art gym, media room, rooftop deck, and residential WiFi cafe.
“Legacy at Fauntleroy is at the center of everything West Seattle has to offer,” said Mark McKallor, Senior Managing Director at Legacy. “The neighborhood is perfect for those who seek the peaceful coastal culture of West Seattle coupled with the convenience of being near a vibrant downtown city life. Not only is it adjacent to a rapid ride bus stop – offering easy access to the CBD and Amazon’s offices – but it’s steps from neighborhood amenities such as Trader Joe’s, a soon-to-be-opened Whole Foods, retail and farmer’s market offerings at West Seattle Junction, multiple parks, and the West Seattle Golf Course.”
The adjacent bus stop serves lines 116, 118, 119, 773, and the Rapid Ride C Line. Other nearby neighborhood offerings include easy access to Alki Beach Park, West Seattle Water Taxi with access to downtown Seattle, Lincoln Park, Puget Park, QFC, Safeway, PCC Natural Markets, and Whole Foods.
Legacy has built several properties throughout the Pacific Northwest, including Milehouse in Redmond, The Hadley on Mercer Island, Bowman in Seattle, and The Maverick in Burien, WA. Their most recent development, The Triangle, opened in Redmond in Fall 2018.About Legacy Partners
Legacy Partners, a privately held real estate firm founded in 1968 and headquartered in the San Francisco Bay Area, owns, develops and manages multifamily communities throughout the United States. Legacy Partners has regional offices in California, Colorado, Florida, Texas, and Washington and have developed or purchased more than 60,000 apartment homes in Arizona, California, Colorado, Florida, Nevada, Oregon, Texas, and Washington. Since inception, Legacy Partners has worked with some of the world’s largest financial institutions, life insurance companies, and real estate companies, consistently returning exceptional results.
Legacy Partners provides management services for its own portfolio, as well as other owners. Combined, Legacy Partners manages a portfolio of over 60 multifamily communities with more than 14,000 apartments homes. For further information, please visit www.legacypartners.com.About PNC Bank
PNC Bank, National Association, is a member of The PNC Financial Services Group, Inc. (NYSE: PNC). PNC is one of the largest diversified financial services institutions in the United States, organized around its customers and communities for strong relationships and local delivery of retail and business banking including a full range of lending products; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management. For information about PNC, visit www.pnc.com.
About USAA Real Estate
USAA Real Estate provides co-investment, acquisition, build-to-suit and development services for corporate and institutional investors and arranges commercial mortgage loans on behalf of affiliates. The portfolio consists of office, industrial/logistics, multifamily, retail and hotel properties. USAA Real Estate is a subsidiary of USAA, a leading financial services company, serving military families since 1922. For more information, visit www.usrealco.com.