Anthem Apartments Seattle, Washington
Gracorp developed (a 100% equity interest) a multi-family residential apartment project situated at 12th Avenue and Yesler Way in Seattle, Washington. The 124,000 square foot project consists of 120 apartments and 4,000 square feet of commercial space on the ground floor. The apartment mix is comprised of studio, one-bedroom and two-bedroom apartments. Anthem opened for occupancy in early July 2015 and was sold in September 2016 for a total purchase price of US$35.1 million.
The site is ideally located on the southern slope of First Hill adjacent to and within walking distance of downtown Seattle, Harborview Medical Center, Swedish Hospital, Virginia Mason Hospital, the International District and Seattle University. The Seattle market has demonstrated very strong demand for apartments that are located close to the downtown core and these major institutions.
The demographics of the area are rapidly improving and Anthem is expected to benefit from the 12,000 employees working in the three nearby hospitals, Seattle University and a 3 million square foot head office for Amazon.com located in downtown Seattle. In 2013, the Seattle Housing Authority began the redevelopment of an adjacent 30-acre parcel into a landmark mixed-use project. Click here to view the Seattle Housing Authority website.
Building amenities include a roof top deck with barbecues, a lounge area, a dog run, a bike storage and repair station, a fitness centre, controlled-access parking, a community room with kitchen facilities, and future restaurant and retail space. The building achieved LEED for Homes Mid-Rise Gold certification from the US Green Building Council in October 2015.
In July 2016, Anthem was recognized as one of six national finalists for the Urban Land Institute’s (“ULI”) Jack Kemp Excellence Award, which honours projects that meet affordable and workforce housing needs and help to create mixed-income communities. The ULI plans to announce the winner of the award in October 2016.