Home AEC Legacy Partners & Lionstone Break Ground on 623-Unit Redmond Square Redevelopment

Legacy Partners & Lionstone Break Ground on 623-Unit Redmond Square Redevelopment

Legacy Partners, Lionstone Investments, JLL, Redmond, Redmond Square, Tiscareno Associates
Left to right: Parker Nicholson, Development Manager, Legacy Partners; Frank Stauff, President of Compass Construction; Gary Chubb, Vice PresidentSenior Construction Manager, Legacy Partners; Kerry Nicholson, Senior Managing Partner, Legacy Partners; Josh McDonald, Development Manager, Legacy Partners; and, Bob Tiscareno, Founder & Principal, Tiscareno Architects

REDMOND, Wash. (November 11, 2021) – Legacy Partners (“Legacy”), a privately held national real estate firm, and JV partner Lionstone Investments, a data-analytics driven real estate investment firm, today announced the start of construction on the redevelopment of the Redmond Square shopping center in the heart of downtown Redmond. The highly anticipated mixed-use development, brokered by JLL Capital Markets, is composed of 623 residences across two six-story buildings on 3.5 acres.

“The Redmond Square redevelopment is in a highly interconnected part of downtown Redmond,” said Kerry Nicholson, Senior Managing Partner at Legacy Partners. “Not only does the community border the Redmond Central Connector, which links all of downtown with public art and bicycle and pedestrian paths, but it is within walking distance to the Redmond Town Center, Redmond Saturday Market, Redmond Library, and just a few steps north of the forthcoming Downtown Redmond Station light rail platform. The community is unlike anything we’ve ever built, in terms of its finishes. We used the highest quality interior design features to create the perfect blend of urban and suburban, complemented by a convenient transit-oriented lifestyle and modern residential amenities.”

The first phase of the development, located at 16595 Redmond Way, will offer 311 apartments and nearly 20,000 square feet of ground-floor retail space. The residences will feature built-in closets, Bertazzoni Italian appliances, kitchen range hoods, built-in microwaves, 3″ Carrera quartz countertops, floating bathroom vanities with framed mirrors, Latch smart home devices, and air conditioning, a rare offering for apartments in the Pacific Northwest.

The second phase, at 16502 Cleveland Street, will consist of 312 residences and approximately 13,000 square feet of retail and commercial space, and will break ground in 2022. Tiscareno Associates, a frequent design partner of Legacy, is the architect of record for both buildings, which will open in phases from winter 2023 to summer 2024.

“The combination of the Redmond Square redevelopment and the Downtown Redmond light rail station will forever transform downtown’s Anderson Park neighborhood to a ‘third place’ destination with comfortable urban living, places to work, and exciting retail and restaurant opportunities,” said Scott Glazebrook, Partner and Vice President at Tiscareno Associates.“This community continues the momentum of revitalization from the core of downtown with the added draw of light rail and Redmond Town Center. This new mixed-use development supports its urbanizing setting through a variety of design statements that transcend typical vertical living experiences by focusing on pedestrian engagement.”

Notable about the development is its walkability, a feature Redmond is actively promoting across the city. The two buildings will be connected by two courtyards linked via a European-style pedestrian walkway. Residents will be surrounded by green space, enjoying instant access to an on-site yoga studio and fitness center, clubhouse, pet salon, business center, and audio room, along with a boutique market and more than 600 indoor and outdoor parking spaces and bike stalls.

Legacy and Tiscareno also partnered on the design and development of Redmond’s Milehouse apartment community and the six-acre Riverpark site at 15803 Bear Creek Pkwy, which encompassed apartments, a hotel, and office space.

About Legacy Partners

Legacy Partners (Legacy), 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 has regional offices in California, Colorado, Atlanta, GA, Florida, Texas, and Washington and has developed more than 66,000 apartment homes in Arizona, California, Colorado, Nevada, Oregon, Texas, and Washington. Since inception, Legacy has worked with some of the world’s largest financial institutions, life insurance companies, and real estate companies, consistently delivering exceptional results.Legacy provides management services for its own portfolio, as well as other owners. Combined, Legacy manages a portfolio of over 54 multifamily communities with more than 12,000 apartment homes, and with a gross value in excess of $3 billion.

About Lionstone Investments

Lionstone Investments is a data-analytics driven real estate investment firm that conceptualizes, analyzes, and executes national investment strategies using proprietary algorithms and advanced analytics to strategically pinpoint the locations where innovation, economic vitality, and productivity intersect to create sustainable and vibrant communities — Places for Productive People.® Generating smart insight via sophisticated analytic tools, Lionstone is able to identify the highest concentrations of growth and productivity in the U.S. economy. This unique approach finds durable growth and resilient income in a rapidly evolving world. Lionstone Investments is a wholly-owned subsidiary of Columbia Management Investment Advisers, LLC. Columbia Threadneedle Investments is the global brand name of the Columbia and Threadneedle group of companies.

About Tiscareno Associates

Tiscareno Associates (Tiscareno) is a Pacific Northwest architecture and urban design firm that helps clients realize their project vision and investment objectives with beautiful, cost-effective designs that enrich their communities with places where people like to be. Founded in 2002, this privately held, mid-size firm serves developers, contractors, and local governments in designing multifamily, mixed-use, TIs, transportation, and other urban projects, as well as master plans. Their current portfolio includes hundreds of projects valued from $500,000 to $150 million. Winner of numerous design awards, Tiscareno has earned a reputation for ego-free collaboration, innovative problem solving, and optimization of a project’s resources, community input, and market goals.