JDA West has been named as the buyer of 2134 Western Ave. half-acre site in Seattle’s Belltown area. The half-acre site will house a multi-use project called Natasha and is located near the Pike Place Market on the corner of Blanchard Street and Western Avenue.
Natasha will become home to a total of around 150 studio, one- and two-bedroom apartments, as well as close to 6,000 feet of retail space and over 150 parking spaces.
The San Francisco-based JDA West purchased the site for $8 million from the Toulouse Children Partnership. The site last traded in 1991 for $600,000. The company, which describes itself on its Web site as the multi-family investment firm that develops and acquires luxury apartment homes in dynamic west coast markets, has began construction on several other projects over the last twelve months for a total of $115 million, although this would be its first in Seattle. Its target geographies are major markets on the west coast, such as San Francisco, Seattle, Los Angeles and Portland, to name a few. Its optimal size of project is between 150 and 300 units, according to its Web site.
Clark Design Group will be the designer on the project, and Thomas Rengstorf & Associates will be the landscape architects.