Home AEC Subsidiary of Trammell Crow Buys Seattle Development Site for $12.2MM

Subsidiary of Trammell Crow Buys Seattle Development Site for $12.2MM

High Street Residential, Trammell Crow, Seattle, White/Peterman Properties, Corner 63, B+H

By Meghan Hall

High Street Residential, the residential subsidiary of Trammell Crow Company, has purchased a Seattle lot that could lead to redevelopment. In a deal that recently closed, High Street paid $12.16 million for property at 6300 9th Ave. NE. The seller, according to public records, is an entity affiliated with Crown Point, Indiana-based White/Peterman Properties.

The 0.32-acre site is currently developed with a 20,000 square foot office building first constructed in the 1970s, according to the King County Assessor. However, over the past several years, White/Peterman Properties has been working through plans to redevelop the site into “Corner 63,” a new residential project designed by B+H Architects.

The development would include about 140 units, of which 28 would be designated affordable. A minimum of about 6,000 square feet of amenity space will be included to the project, as will 81 vehicle parking spots.

“Corner 63 strives to be a respectful addition to the neighborhood and a catalyst for the community,” project documents state. “This thoughtful response aims to create a building that strengthens the neighborhood’s architectural character and is respectful of the residential fabric that surrounds it, while offering numerous opportunities for neighbors and residents to engage and interact.”

The project site is within walking distance to an array of local restaurants, retail and bike paths, and according to project documents, “is an ideal urban location tempered by multiple parks and quiet tree-lined streets.” With the introduction of the Roosevelt Light Rail Station expected in 2021, the neighborhood is expected to draw a greater mix of renters and young professionals.