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August 23, 2012

Wood Partners to start construction on high-rise apartment complex in Seattle

Real estate company Wood Partners is planning to start construction on a 27-storey high-rise apartment complex in Seattle, Washington, US.

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Wood Partners high-rise apartment complex in Seattle

Real estate company Wood Partners is planning to start construction on a 27-storey high-rise apartment complex in Seattle, Washington, US.

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The 298-unit apartment complex will be situated at 225 Cedar Street on the southwest corner of Cedar and Third Avenue in Seattle’s Belltown.

Plans also include six levels of subterranean parking to house 200 cars, around 3,800ft² of space on the ground floor for commercial and retail purposes, as well as an exercise facility with a bicycle workshop.

The average apartment size at the new community will be 660ft² while the mixed units will have different floor plans including studios and traditional one and two-bedroom units.

The development will feature a roof deck with a fire pit and gas barbecue grills, and a rooftop residents’ lounge offering views of the Seattle skyline to the north, east and south, and Puget Sound and Bainbridge Island to the west.

Andersen Construction is serving as the general contractor while Prudential, JPM Chase, landscape architect Hewitt, DCI Engineers and the civil engineer KPFF are partners on the project.

Wood Partners vice president of development for the Pacific Northwest Steve Orser said that the Third and Cedar project is positioned in the north end of the Belltown restaurant and nightlife district, close to Seattle Center and South Lake Union.

"Despite the fact that some new residential units have been added to the neighbourhood, there is still not enough housing to meet the demand created by the employment growth," Orser said.

"The Third & Cedar project is an ideal location to capitalise on this imbalance. Its location at the very centre of Seattle’s urban core neighbourhoods, in close proximity to numerous amenities and employment centres, make it an extremely desirable location."

Earlier in August 2012, Wood Partners had started construction on a $45m Alta Legacy Farm, an apartment community in Hopkinton, Massachusetts, US.


Image: The 27-storey apartment complex will feature 298 units and about 3,800ft² space on the ground floor. Photo: Wood Partners.

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Free Report
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Internet of Things set to transform the construction industry

The Internet of Things (IoT) is proving hugely beneficial to the construction industry, allowing different assets and people to be monitored and accounted for across a traditionally fragmented industry. As a result, companies that invest in IoT now promise to make long-term gains in the industry. According to GlobalData forecasts, spending on IoT in construction will reach $9.6bn by 2025. For an industry that has large sites to manage, strict project timelines, hazardous working conditions, and tight profit margins, IoT can create a manageable view of construction sites for project managers, streamline operations, and protect workers. In addition, it allows real-time data streams of assets, automates time-consuming tasks, and ensures employee safety and productivity. IoT integration with equipment manufacturing also has rich advantages for asset monitoring sensors. This, combined with artificial intelligence (AI) can help forecast materials and workers needed during the procurement stage and assist in forecast financing. Read GlobalData’s whitepaper to find out more, including information on:
  • IoT value chain
  • Market size and growth forecasts
  • Mergers and acquisitions
  • Leading IoT adopters in construction
  • Specialist IoT vendors in construction
Don’t get left behind – find out how IoT can fortify your operations and make investments now.
by GlobalData
Enter your details here to receive your free Report.

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