New Mixed-Use Building Will Feature Studio, One-Bedroom and Two-Bedroom Units and Possible Commercial Uses
Seattle, Wash., July 26, 2018 – Arbutus Properties (www.arbutusproperties.com), a Vancouver-based development firm specializing in residential, commercial and hotel planning/development, today announced plans for a new 44-story mixed-use project in Seattle’s South Lake Union neighborhood.
Located at 1370 Stewart Ave., the half-block site has an opportunity to become a ‘gateway’ into the South Lake Union neighborhood, using strong design to distinguish the building in a way that is both elegant and memorable. The new building will include studio, one- and two-bedroom apartment units and possible commercial uses. The 21,125 sq. ft. site is the company’s first Seattle project.
“We’ve been planning to expand into Seattle and waiting for the right opportunity – this key South Lake Union site is challenging, but it gives us the opportunity to be very creative while also being responsive to the surrounding community,” said Jeff Drexel of Arbutus Properties. “With Vancouver as our headquarters, Seattle is a natural expansion market for us and we’re excited to explore additional opportunities in and around the Seattle area as its strong population growth continues.”
Seattle-based Perkins+Will is the project architect and Timbercreek is the financial partner. The environmentally-friendly building is tentatively slated to break ground in late 2020.
As an active developer in the Saskatoon area, Arbutus is currently building a large mixed-use project in one of Canada’s fastest growing urban centers. This project spans 420 acres and includes 2,500 single family homes, townhomes and multifamily plus 1 million square feet of commercial development.
About Arbutus Properties
Based in Vancouver, Canada, Arbutus Properties is a boutique real estate developer with deep experience in residential, commercial, resort and hotel planning and development. With a focus on finding diamonds in the rough in overlooked neighborhoods, communities and cities, Arbutus leans heavily on relentless research, artful planning and decisive execution. With an emphasis on working in Western Canada and the United States, current projects include the 420-acre master-planned The Meadows residential community in Saskatoon including the pedestrian-friendly Meadows Market, as well as what will be Canada’s largest sustainable urban community in south-eastern Saskatoon.