Announces Half Million Dollar Art Program Supporting Local Artists TOD Development focused on Workforce Housing
SEATTLE, WA. – April 27, 2021 – Trent Development announced today, along with their project partners Hatteras Sky and Bridge Investment Group, that they have started construction on Tapestry, a six-story mixed use building with 268 apartments comprised of studio, one and two-bedroom units, and 14,000 SF of ground floor retail.
Located on 12th Avenue and Yesler Way, Tapestry is Trent’s Development’s third Opportunity Zone project to break ground which will include 56 workforce apartment units for individuals earning between 65-85% of AMI. As of this announcement, Trent Development has seven Opportunity Zone projects underway with a focus on transit-oriented development and attainable apartment homes for those who make our cities operate such as transit workers, health care professionals, public employees, and many more.
Tapestry is across the street from the First Hill Streetcar line which will connect future residents to Pioneer Square and all things downtown, Little Saigon, Japantown, the Chinatown International District, and Capitol Hill. Aside from its location, Tapestry will also include 84 bike stalls with repair and wash stations.
A signature design element of Tapestry is the integration of art and architecture. The name Tapestry seeks to honor the cultural diversity of its place in the Central District, and through a half-million-dollar public art program led by art curator William Gaylord of BONFIRE art+culture+design, Tapestry will feature public art pieces focused on the cultural heritage of the neighborhood. A rendering depicts an art concept for the southwest corner designed by Jeffrey Veregge.
“We are honored to be partnering with a diverse and talented group of local artists to celebrate the rich history of Seattle’s Central District,” said Marshall Ling, Trent Development’s Director of Design. “12th and Yesler is a gateway corner for the neighborhood, and we hope to shine a light on the people and artists who have contributed to its thriving culture.”
“We are thrilled to be moving forward with this exciting development that incorporates the rich, cultural history of the Central District and delivers much-needed workforce housing,” said David Coelho, Chief Investment Officer of Bridge Investment Group’s Opportunity Zone Funds. “This project aligns with Bridge’s mission of energizing underserved communities by investing in local partnerships.”
Tapestry amenities include a penthouse with a comfortable club room, a separate game room with billiards and foosball, connecting to a rooftop lounge with outdoor kitchens and firepit nooks with views of Mt. Rainier. It also includes a fitness room with a climbing wall, a coworking lounge and library, and bike storage and wash stations for both your bike and dog. There are two levels of parking with 119 stalls and charging available for electric vehicles.
Tapestry is anticipated to open in early 2023. The project team includes WG Clark Construction, Clark Barnes Architects, and will be leased and managed by Blanton Turner
ABOUT HATTERAS SKY
Hatteras Sky is a commercial real estate development firm based in Atlanta that was founded by Jason Cordon and Amy Kelly. In addition to conventional development, the group specializes in development in opportunity zones and historic rehabilitations. Currently, the development pipeline totals more than $1.3 billion dollars for all Hatteras Sky projects.
ABOUT TRENT DEVELOPMENT
Based in Seattle, Trent Development specializes in real estate development as well as project and construction management. Together Trent Mummery and Patrick Ashman have more than 40 years of experience in the industry and have been intimately involved in overseeing the development of more than 1400 units totaling $850 million in real estate projects in Seattle; Japan; Vancouver, BC; San Francisco and Camdenton, Missouri.
ABOUT BRIDGE INVESTMENT GROUP
Bridge is a privately held real estate investment management firm with $25+ billion in assets under management. Bridge combines its 4,200+ person, nationwide operating platform with specialized teams of investment professionals focused on select U.S. real estate verticals, which Bridge believes offer above-market opportunity: multifamily, office, seniors housing, affordable housing, opportunity zones, and debt strategies.
