Home Industry News Capitol Hill Station Development to Celebrate Groundbreaking

Capitol Hill Station Development to Celebrate Groundbreaking

Seattle, Gerding Edlen, Bentall Kennedy, Sound Transit, Capitol Hill Housing, Capitol Hill Champion, Capitol Hill Neighborhood Farmers Market
Rendering courtesy of Gerding Edlen

Seattle, WA (June 12, 2018) — The Capitol Hill Station Development, a transit-oriented, mixed-income and mixed-use development project that surrounds the new Capitol Hill Light Rail Station, will break ground June 19, 2018. To honor this important milestone, a celebration will be held on the site of the future public plaza, near the intersection of Broadway and Denny on Tuesday, June 19, 2018 from 5-7 p.m. The event will feature food and drinks from local purveyors, live music and a pop-up farmers market. The event is hosted by project partners Gerding Edlen, Bentall Kennedy, Capitol Hill Housing, Sound Transit, Capitol Hill Champion, Capitol Hill Neighborhood Farmers Market and The AMP: AIDS Memorial Pathway. The community is invited and encouraged to join the celebration of this major achievement.

The groundbreaking celebration marks the commencement of construction of the Capitol Hill Station Development, a long-awaited and transformational project for the Capitol Hill neighborhood. Located atop the new Capitol Hill Light Rail Station, the transit-oriented development includes four buildings and will provide 428 apartments, including 178 affordable apartments, approximately 30,000 sq. ft. of ground floor retail and 210 underground parking spaces. The development will also include a community room available to the public and a public plaza that will serve as the home of Capitol Hill Neighborhood Farmers Market as well as a venue for other community events. The project will be highly sustainable and is targeting a LEED For Homes Platinum Certification. The project is slated to open Q2 2020.

The Capitol Hill Station Development is an FTA Joint Development project being developed by Gerding Edlen. Gerding Edlen was selected by Sound Transit to be the Master Developer of all four sites via a competitive Request for Proposals (RFP). Sound Transit will ground lease Sites A, B-South and C to Gerding Edlen and sell site B-North to Capitol Hill Housing, Gerding Edlen’s co-developer on the site. Gerding Edlen’s joint venture partner on Sites A, B-South and C is Bentall Kennedy’s U.S. Core Fund, who shares Gerding Edlen’s passion for responsible property investment and sustainability.

“We are very pleased that this important project for the Capitol Hill community and the City of Seattle will finally be realized,” stated Jill Sherman, Partner at Gerding Edlen. “The phenomenal location and transit access, as well as the partnerships with multiple nonprofits to make the development a special and inclusive place is something we are extremely proud of.”

For the past 20 years, Sound Transit and the Seattle community have envisioned a vibrant urban development that would complement and support the local Capitol Hill neighborhood. The Capitol Hill Champion, a joint project of the Capitol Hill Community Council and the Capitol Hill Chamber of Commerce, was created in 2010 with the express purpose of advocating for community priorities in the development of the Capitol Hill Station Development. Through extensive outreach and advocacy, the Capitol Hill Champion set forth the community’s vision and priorities and has worked in close partnership with Sound Transit throughout the planning and RFP process, and Gerding Edlen throughout the design and development process, to make these priorities a reality.

“Today’s groundbreaking ceremony celebrates a vision for transit-oriented development that has been two decades in the making,” said Sound Transit Chief Executive Officer Peter Rogoff. “Thanks to the meticulous work of Gerding Edlen and the intensive engagement of the Capitol Hill community, the development at this light rail station will provide affordable housing and neighborhood improvements at one of our busiest transit centers and in one of our region’s fastest growing communities. With the Sound Transit Board’s adoption of our new TOD policy, these are the kinds of community projects that we hope to facilitate more of as we expand our light rail network.”

We’re excited to reach this milestone, ” said Brie Gyncild, co-chair of the Capitol Hill Champion. “Thousands of community members have helped to identify the priorities for our neighborhood, advocate with elected officials and Sound Transit, and work with the development team to shape this project. We’ve worked hard to ensure we’ll gain high-quality affordable housing, a permanent home for the Capitol Hill Farmers Market, a much-needed community room, great access for people walking and biking, and buildings that advance our environmental goals. There is much to celebrate.”

The Capitol Hill Station Development will be a model for smart, sustainable communities that encourage transportation alternatives. In addition to unparalleled access to light rail and the streetcar, the project will include plentiful bicycle parking to serve commuters, residents and visitors. The project is truly mixed-income – 42% of the units will be leased at below market-rate rents. Site B North, which will be owned and operated by Capitol Hill Housing, will include 110 apartments affordable to households that earn at or below 30%, 50% and 60% of the area median income. The apartments will be a mixture of studios, one, two and three-bedroom units. The building will be built to a LEED Platinum standard and will also include a 1,335-square foot community room that will be open to the public. The project is made possible thanks to the Seattle Office of Housing which committed $8.7 million in financing through the 2009 Housing Levy as well King County which committed $4.7 million toward construction. Impact Capital and KeyBank provided critical pre-development funding.

“It’s been a long road, but we are excited to start work on desperately needed affordable apartments for families in the heart of Capitol Hill. We have been working alongside the community for many years to ensure this process reflects community priorities. This development will transform our neighborhood and we’re proud to make sure that affordability is part of that transformation,” said Christopher Persons, CEO of Capitol Hill Housing.

The three additional market-rate sites will participate in Seattle’s Multi-Family Tax Exemption Program, which will result in another 68 below-market units affordable to households earning 65%-85% of the area median income. The project will also include small shop spaces targeted to local businesses and entrepreneurs.

Gerding Edlen is pleased to announce its partnership with The AMP: AIDS Memorial Pathway to develop plans for a public art program that would be integrated into the Capitol Hill Station Development. The AMP is a community-driven memorial art project honoring the impact of the AIDS epidemic on Seattle and King County.

“The Capitol Hill Station Development, situated at the gateway to Cal Anderson Park, is a fitting location for The AMP. The memorial will be a beautiful community gathering place to honor those who died, those who fought, and those who continue the fight against HIV/AIDS through story sharing, oral histories, photographs, and artifacts; and provide a call to action to end HIV/AIDS, stigma, and discrimination.” Tom Rasmussen, City Councilmember (retired), Seattle City Council.

The general contractor for Sites A, B-South and C is Lease Crutcher Lewis. Walsh Construction is the general contractor for Site B-North. The architect for Sites A and C is Hewitt Architects and the architect for Sites B-North and B-South is Schemata Workshop. The landscape architect is The Berger Partnership.

About Gerding Edlen

Gerding Edlen is a leading real estate investment, development and asset and property management firm recognized for its expertise in creating and owning highly sustainable, urban infill, office, residential and mixed-use properties. Founded in 1996, the firm engages a socially responsible approach to real estate by cultivating properties that strengthen communities, minimize impact on the environment and add profound value to residents and tenants. Gerding Edlen’s efforts are guided by a set of criteria, known as the Principles of Place, where community plays a pivotal role alongside design, technology and sustainability in the success of their properties. Gerding Edlen’s development entity is a recognized national leader of sustainable development, which includes more than 75 LEED certified or certified pending properties. For more information, visit http://gerdingedlen.com/

About Bentall Kennedy

Bentall Kennedy, a Sun Life Investment Management company, is one of the largest global real estate investment advisors and one of North America’s foremost providers of real estate services. Bentall Kennedy serves the interests of more than 550 institutional clients with expertise in office, retail, industrial and multi-residential assets throughout Canada and the U.S. Bentall Kennedy is comprised of Bentall Kennedy (Canada) Limited Partnership, Bentall Kennedy (U.S.) Limited Partnership and the real estate and mortgage operations of their affiliates. Bentall Kennedy is a member of UN PRI and a recognized Responsible Property Investing leader ranked among the top firms around the globe in the Global Real Estate Sustainability Benchmark (GRESB) for the seventh consecutive year since GRESB was launched. For more information, visit www.bentallkennedy.com.

About Sound Transit

Sound Transit plans, builds and operates regional transit systems and services to improve mobility for the Central Puget Sound. The agency is advancing the largest transit expansion program in the nation, with simultaneous light rail exten-sions to the north, south, east and west to complete a 116-mile regional system. New bus rapid transit services and ex-panded commuter rail services will also provide alternatives to rising congestion, protecting and enhancing the region’s economy and environment in the face of rapid population growth. More information at www.soundtransit.org.

About Capitol Hill Housing

Since 1976, Capitol Hill Housing has worked alongside the community to build and preserve apartments affordable to working families and promote the qualities that make Seattle a vibrant and engaged city. Today, Capitol Hill Housing provides secure, affordable homes to over 2,200 people in 48 buildings across the city while working to make our neighborhoods safer, healthier and more equitable through the Capitol Hill EcoDistrict. Learn more at www.capitolhillhousing.org.

About the Capitol Hill Champion

The Capitol Hill Champion, a joint project of the Capitol Hill Community Council and Capitol Hill Chamber of Commerce, advocates for community priorities in the development around the Capitol Hill light rail station. For more information, visit http://capitolhillchampion.org/.

About Capitol Hill Neighborhood Farmers Market

The Neighborhood Farmers Market Alliance is committed to supporting and strengthening Washington’s small family farm businesses by creating and operating vibrant, successful neighborhood farmers markets. To meet our mission, we provide effective direct sales sites for our region’s small farmers, while also educating consumers about local farm products and the importance of supporting and preserving local farmland. In addition, we have been at the forefront of advocating for low income benefits programs to ensure equal food access. For questions contact Leah at capitolhill@seattlefarmersmarkets.org.

About The AMP: AIDS Memorial Pathway

The AMP: AIDS Memorial Pathway, community-driven and -funded, will use public art to create a physical place for remembrance and reflection; utilize technology to share stories about the epidemic and the diverse community responses to the crisis; and provide a call to action to end HIV/AIDS, stigma, and discrimination. Learn more at www.theamp.org.