|By Marketwired .||
|August 23, 2012 12:15 PM EDT||
SEATTLE, WA -- (Marketwire) -- 08/23/12 -- Wood Partners, the most active multifamily developer in the nation, is set to begin construction on a 27-story, 298-unit high-rise apartment complex at 225 Cedar Street, located on the southwest corner of Cedar and Third Avenue in Seattle's Belltown.
"The Third and Cedar project is strategically positioned in the north end of the Belltown restaurant and nightlife district close to Seattle Center and South Lake Union, one of the most vibrant urban areas not just in Seattle but in the nation," said Steve Orser, Wood Partners' vice president of development for the Pacific Northwest. "It has a palpable vibe to it that should attract young, technologically oriented professionals to the many outstanding employers in the area."
The site is located in the shadow of the iconic Space Needle, just a short walk from the South Lake Union and Queen Anne neighborhoods, and sits just a block from Seattle Center, home to a variety of cultural and educational organizations and facilities, festivals, entertainment venues and community programs.
South Lake Union is an extension of the downtown/Belltown employment axis and is quickly becoming Seattle's main medical/biotech hub including employers such as the Gates Foundation, Fred Hutchinson Cancer Research, the University of Washington and Path. In less than a decade, 2.5 million square-feet of new commercial space have been added, bringing nearly 7,000 new jobs to the area since 2000. Amazon recently relocated its headquarters -- and more than 4,000 jobs -- to South Lake Union just a quarter mile to the northeast. In fact, Third & Cedar is only blocks away from Amazon's recently announced three-tower, three million square feet of additional office development which will begin in 2013.
While the apartment building itself will rise 27 stories, an additional six levels of subterranean parking will accommodate nearly 200 cars. Approximately 3,800 square feet will be reserved for commercial/retail use on the ground floor.
According to National Association of Home Builders (NAHB), the economic impact of new home construction is substantial. Based on data from the U.S. Bureau of Economic Analysis, NAHB estimates that new multifamily construction projects generate more than $86,000 in income and more than $33,000 in federal, state and local taxes per unit.
"Despite the fact that some new residential units have been added to the neighborhood, there is still not enough housing to meet the demand created by the employment growth," said Orser. "The Third & Cedar project is an ideal location to capitalize on this imbalance. Its location at the very center of Seattle's urban core neighborhoods, in close proximity to numerous amenities and employment centers, make it an extremely desirable location."
The average apartment size at this new community will be 660 square feet and the unit mix will feature a variety of floor plans and configurations including studios, urban and traditional one- and two-bedroom units. Space-efficient designs with flexible layouts and built-in storage will make compact units feel more spacious while keeping overall unit rents at an attractive level.
Among the communal amenities the development will include are an expansive roof deck with a fire pit and gas barbecue grills, a rooftop residents' lounge and spectacular 360 degree views of the Seattle skyline to the north, east and south with Puget Sound and Bainbridge Island to the west. The complex also will include an exercise facility with a bicycle workshop.
Project partners include Prudential, the equity partner; JPM Chase, the lender; Hewitt, the architect and landscape architect; DCI Engineers, the structural engineer; and KPFF, the civil engineer. The general contractor is Andersen Construction.
About Wood Partners
Wood Partners is a national real estate company that acquires, develops, constructs and property manages high density and mixed-use communities. In 2011, it was ranked the nation's No. 1 multifamily developer with 3,750 unit starts. Through quality construction, responsible land development and intelligent design, our communities reflect the aesthetic and social fabric of the community and provide a luxurious living experience at a fair price. The company has been involved in the development of more than 40,000 homes with a combined value of more than $5.5 billion nationwide. Wood Partners has offices in 15 major markets nationwide including Atlanta, Baltimore, Boston, Charlotte, Dallas, Delray Beach, Denver, Houston, Newport Beach, Orlando, Phoenix, Raleigh-Durham, San Francisco, Seattle and Washington, D.C. To learn more about Wood Partners, please visit our Web site at www.woodpartners.com.
It's easy to assume that your app will run on a fast and reliable network. The reality for your app's users, though, is often a slow, unreliable network with spotty coverage. What happens when the network doesn't work, or when the device is in airplane mode? You get unhappy, frustrated users. An offline-first app is an app that works, without error, when there is no network connection.
Feb. 11, 2016 11:00 PM EST Reads: 225
Data-as-a-Service is the complete package for the transformation of raw data into meaningful data assets and the delivery of those data assets. In her session at 18th Cloud Expo, Lakshmi Randall, an industry expert, analyst and strategist, will address: What is DaaS (Data-as-a-Service)? Challenges addressed by DaaS Vendors that are enabling DaaS Architecture options for DaaS
Feb. 11, 2016 10:45 PM EST Reads: 359
One of the bewildering things about DevOps is integrating the massive toolchain including the dozens of new tools that seem to crop up every year. Part of DevOps is Continuous Delivery and having a complex toolchain can add additional integration and setup to your developer environment. In his session at @DevOpsSummit at 18th Cloud Expo, Miko Matsumura, Chief Marketing Officer of Gradle Inc., will discuss which tools to use in a developer stack, how to provision the toolchain to minimize onboa...
Feb. 11, 2016 10:00 PM EST Reads: 119
Cognitive Computing is becoming the foundation for a new generation of solutions that have the potential to transform business. Unlike traditional approaches to building solutions, a cognitive computing approach allows the data to help determine the way applications are designed. This contrasts with conventional software development that begins with defining logic based on the current way a business operates. In her session at 18th Cloud Expo, Judith S. Hurwitz, President and CEO of Hurwitz & ...
Feb. 11, 2016 07:00 PM EST Reads: 270
As someone who has been dedicated to automation and Application Release Automation (ARA) technology for almost six years now, one of the most common questions I get asked regards Platform-as-a-Service (PaaS). Specifically, people want to know whether release automation is still needed when a PaaS is in place, and why. Isn't that what a PaaS provides? A solution to the deployment and runtime challenges of an application? Why would anyone using a PaaS then need an automation engine with workflow ...
Feb. 11, 2016 05:15 PM EST Reads: 216
SYS-CON Events announced today that Catchpoint Systems, Inc., a provider of innovative web and infrastructure monitoring solutions, has been named “Silver Sponsor” of SYS-CON's DevOps Summit at 18th Cloud Expo New York, which will take place June 7-9, 2016, at the Javits Center in New York City, NY. Catchpoint is a leading Digital Performance Analytics company that provides unparalleled insight into customer-critical services to help consistently deliver an amazing customer experience. Designed...
Feb. 11, 2016 05:00 PM EST Reads: 387
The cloud competition for database hosts is fierce. How do you evaluate a cloud provider for your database platform? In his session at 18th Cloud Expo, Chris Presley, a Solutions Architect at Pythian, will give users a checklist of considerations when choosing a provider. Chris Presley is a Solutions Architect at Pythian. He loves order – making him a premier Microsoft SQL Server expert. Not only has he programmed and administered SQL Server, but he has also shared his expertise and passion w...
Feb. 11, 2016 04:30 PM EST
With the proliferation of both SQL and NoSQL databases, organizations can now target specific fit-for-purpose database tools for their different application needs regarding scalability, ease of use, ACID support, etc. Platform as a Service offerings make this even easier now, enabling developers to roll out their own database infrastructure in minutes with minimal management overhead. However, this same amount of flexibility also comes with the challenges of picking the right tool, on the right ...
Feb. 11, 2016 04:15 PM EST Reads: 178
SYS-CON Events announced today that FalconStor Software® Inc., a 15-year innovator of software-defined storage solutions, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. FalconStor Software®, Inc. (NASDAQ: FALC) is a leading software-defined storage company offering a converged, hardware-agnostic, software-defined storage and data services platform. Its flagship solution FreeStor®, utilizes a horizonta...
Feb. 11, 2016 04:00 PM EST
SYS-CON Events announced today that Interoute, owner-operator of one of Europe's largest networks and a global cloud services platform, has been named “Bronze Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2015 at the Javits Center in New York, New York. Interoute is the owner-operator of one of Europe's largest networks and a global cloud services platform which encompasses 12 data centers, 14 virtual data centers and 31 colocation centers, with connections to 195 ad...
Feb. 11, 2016 03:45 PM EST Reads: 409
SYS-CON Events announced today that (ISC)²® (“ISC-squared”) will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Two leading non-profits focused on cloud and information security, (ISC)² and Cloud Security Alliance (CSA), developed the Certified Cloud Security Professional (CCSP) certification to address the increased demand for cloud security expertise due to rapid growth in cloud. Recently named “The Next...
Feb. 11, 2016 03:00 PM EST
The Art of DevOps provides a fun overview to help teams understand DevOps. Written in the style of the famous 6th century Chinese manuscript “The Art of War,” this eBook describes DevOps in the form of a mission to continuously deliver assets to the operational battlegrounds safely, securely, and quickly. It’s a fun read with valuable insights.
Feb. 11, 2016 02:45 PM EST
SYS-CON Events announced today that Alert Logic, Inc., the leading provider of Security-as-a-Service solutions for the cloud, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Alert Logic, Inc., provides Security-as-a-Service for on-premises, cloud, and hybrid infrastructures, delivering deep security insight and continuous protection for customers at a lower cost than traditional security solutions. Ful...
Feb. 11, 2016 02:45 PM EST Reads: 441
The Quantified Economy represents the total global addressable market (TAM) for IoT that, according to a recent IDC report, will grow to an unprecedented $1.3 trillion by 2019. With this the third wave of the Internet-global proliferation of connected devices, appliances and sensors is poised to take off in 2016. In his session at @ThingsExpo, David McLauchlan, CEO and co-founder of Buddy Platform, will discuss how the ability to access and analyze the massive volume of streaming data from mil...
Feb. 11, 2016 01:45 PM EST
Join us at Cloud Expo | @ThingsExpo 2016 – June 7-9 at the Javits Center in New York City and November 1-3 at the Santa Clara Convention Center in Santa Clara, CA – and deliver your unique message in a way that is striking and unforgettable by taking advantage of SYS-CON's unmatched high-impact, result-driven event / media packages.
Feb. 11, 2016 01:45 PM EST