By Joel Scanlon
Wood Partners is geared up to start construction on a 298-portion, 27-story apartment complex at 225 Cedar Street, situated at the southwest corner of Cedar and Third Avenue in Seattle’s Belltown.
The site is situated in the shadow of the monumental Space Needle, very near to the South Lake Union and Queen Anne localities and a block from Seattle Center, which showcases various cultural and educational establishments and facilities, festivals, entertainment destinations and community programs.
The apartment complex is a high-rise of 27 floors. Extra six levels of underground parking space will provide place to park about 200 cars. Around 3800 sq. ft. of space on the ground floor will be set aside for retail or commercial use.The standard size of an apartment will be 660 sq. ft. and the assorted complex will comprise varied floor plans and configurations, inclusive of studios, metropolitan and conventional one- and two-bedroom portions. Plans that make optimal use of space with adjustable layouts and recessed storage spaces will make even small apartments appear spacious. They help in retaining the rents of the apartments at a reasonably high level. The common facilities of the venture will include a widespread roof porch featuring a fire pit and gas barbecue grills, a rooftop residents’ community hall, and a stunning 360-degree view of the Seattle horizon in the north, south and east directions as well as Puget Sound and Bainbridge Island to the west. The complex will also have a fitness lounge with a bicycle workshop.
Collaborators in the venture areJPM Chase, the lender, Prudential, the equity partner; Hewitt, the architect and architect for external surroundings; KPFF, the civil engineer; DCI Engineers, the structural engineers; and Andersen Construction, the general contractor.