$41M Multifamily Project Moves Dirt

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Broadstone Koi

(Mark Your Calendars: RealShare Apartments 2011, October 20 in Los Angeles).

SEATTLE-Alliance Residential Co. has started construction on Broadstone Koi, a 166-unit, LEED-certified residential project in Seattle’s Ballard neighborhood. Completion is slated for the first quarter of 2013.

Alliance tells GlobeSt.com that the construction costs for Koi are estimated at $41 million. At completion, the community will consist of studio, one-bedroom and two-bedroom luxury multifamily units housed in five stories of wood-frame construction over two levels of parking. The apartment homes will also feature abundant natural light, large balconies, and upgrades such as granite countertops and wood-plank flooring.

Broadstone Koi is situated within the retail district here, approximately two miles from downtown Seattle. The project fronts Market Street and will offer direct access to major transportation corridors, and a wide array of public parks and facilities that cater to outdoors enthusiasts, according to a prepared statement.

“Ballard is one of the most exciting and eclectic neighborhoods in Seattle,” says Dan McCadden, partner and managing director of development for Alliance. “It’s a magnet for young, well-educated ‘renters-by-choice,’ who enjoy being close to the city, yet also value the convenience of living in an established area surrounded by shopping, nightlife and restaurants. Residents of Broadstone Koi will benefit from the location and the amenity package Alliance has designed for this building.”

Active gathering spaces are a main focus of the development, according to Alliance, and will include a rooftop deck with grilling areas and expansive views, as well as a landscaped, ground-level outdoor courtyard equipped with a fire pit and abundant seating areas. Other amenities include a modern clubroom and resident area with widescreen HDTV, chef’s kitchen and WiFi computer stations, a 24-hour fitness center, a green roof and a variety of other sustainable aspects.



Natalie Dolce Natalie Dolce, editor of the West Coast region for GlobeSt.com and Real Estate Forum, is responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, Natalie was Northeast bureau chief, covering New York City for GlobeSt.com. Dolce?s background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats Arthur Frommer?s Budget Travel magazine, FashionLedge.com, Co-Ed magazine, and has also freelanced for a number of publications including MSNBC.com and Museums New York magazine. Contact Natalie Dolce.

Article source: http://www.globest.com/news/2009_2009/seattle/314453-1.html

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