Town Center to bring walkable, transit-oriented development with multiple housing choices, retail and service offerings in sustainable mixed-use environment.
Merrill Gardens community to include 150 senior living apartment homes
Sammamish, Wash. (April 13, 2019) – Innovation Realty Partners and Pillar Properties announced they have formed a joint venture partnership to develop, manage and operate phase one of the Sammamish Town Center.
The joint venture development will provide a variety of multifamily housing options, retail and commercial space, parks and open space, as well as new roads and other transit and infrastructure improvements. The parties will also own and develop a Merrill Gardens senior living campus in a future phase. Merrill Gardens is Pillar Properties sister company, and both are owned by the R.D. Merrill Co, a privately-owned family owned company with a history in the Pacific Northwest dating back to the 1890’s.
“The Sammamish Town Center is one of the most important projects in the Puget Sound region. The ability of the City of Sammamish to demonstrate that future growth can be managed in a way that enhances the lives of its citizens will be a model for other cities to follow,” said Matthew Samwick, operating manager of Innovation Realty Partners. “We were contacted by multiple builders/operators that wanted to come to Sammamish but we chose to work with the best in the business. We could not ask for a better partner than Pillar Properties. They are a leader in developing modern, energetic, highly sought-after town centers that include senior housing communities.”
Town Center Gains Momentum
Over the past four years Innovation Realty Partners has become the largest private property owner within the Sammamish Town Center district, aggregating close to 90 acres. It will develop future phases of the Town Center in accordance with the city’s adopted plan and as the market demands.
“This is an extraordinary opportunity in place making and we are thrilled to partner with Innovation Realty Partners to bring the Sammamish Town Center to life,” said Bill Pettit, President of R.D. Merrill Company, parent company of Pillar Properties and Merrill Gardens. “For the past five years, we have successfully developed town center projects in Kirkland, Seattle’s University District, Ballard, Auburn, Burien and a number of locations in California and we are so impressed with the foresight and vision the City of Sammamish and Innovation Realty Partners have shown in establishing this location.”
Innovation Realty Partners and Pillar Properties will work with the City of Sammamish and the community to implement the Town Center plan, which was adopted by the Sammamish City Council in 2008.
The Town Center was planned to absorb a meaningful portion of the city’s anticipated residential and commercial growth with the goal of integrating compatible land uses together while minimizing impacts to established neighborhoods.
Highly sought after for the quality of its schools, natural resources and proximity to Microsoft and other major employers, Sammamish is one of the country’s most desirable places to live. However, access to retail, public transit and housing options within the city are limited.
Site Sensitive Design and Open Space
The Town Center will also include innovative, site sensitive designs to protect surrounding natural areas, incorporate significant new open spaces to connect the Town Center to the existing trails and recreational opportunities in the Sammamish Commons Park, and greatly enhance the ability of residents to obtain goods and services in Sammamish.
Additionally, it incorporates regional storm water management, regional parking solutions, pedestrian-friendly street networks and low-impact development techniques.
“The Sammamish Town Center will become an excellent location for small to mid-size companies that want office space on the Eastside but don’t want to be in downtown Bellevue,” said Deb Sogge, Executive Director of the Sammamish Chamber of Commerce. “The amenities of a mixed-use development, the proximity to Microsoft and other tech companies, and the ability to tap into a skilled workforce makes the Sammamish Town Center very attractive.”About Innovation Realty Partners
Innovation Realty Partners, LLC and its affiliated companies were formed in 2010 to undertake complex real estate projects, including the Sammamish Town Center. Dedicated to improving communities through smart growth principles and forward-thinking urban planning, Innovation Realty focuses on projects that reflect neighborhood goals and create value over the entire lifecycle of the real estate development spectrum. www.sammamish-towncenter.comAbout Pillar Properties
Pillar Properties currently has a portfolio of 1,700 luxury apartment units throughout the Puget Sound region, with plans to add another 750 units over the next several years. As the developer for sister-company Merrill Gardens, Pillar has added over 3,000 units to the senior housing portfolio and is currently managing an active development pipeline of over 10 projects. To-date, the company has been involved in over 30 development projects with a combined total cost in excess of $2 billion. www.pillarproperties.com.About Merrill Gardens
Merrill Gardens has been a leader in senior living for 25 years and the family owned private company continues to set the standard for quality at its independent and assisted living retirement communities. Merrill Gardens currently has 33 communities in eight states, committed to providing an inspiring environment for residents, families and team members where every life is defined by the possibilities. Merrill Gardens was recently named the Family Business of the Year by Seattle Business Magazine and ranks #6 in the country in the Fortune Magazine Best Workplaces in Aging Services list. Visit www.merrillgardens.com