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Crossroads is a mixed-use apartment building located on two land parcels on the south side of the iconic intersection of Rainier Avenue South and Martin Luther King Boulevard in Seattle, Washington. The Project includes 156 residential apartment units, including SEDU (small efficiency dwelling units), studios, one bedroom and co-living units. The Project features top rate amenity space for the tenants, including both indoor and outdoor rooftop gathering spaces. The project also includes approximately 6,315 square feet of ground floor retail space.
Crossroads is a Transportation Oriented Development (T.O.D.) and is located kitty-corner from the Mt. Baker light rail station. Annual rent growth in the Mount Baker area has averaged approximately 4.8 percent over the past five years. The population is also growing at more than three times the national average and many are now looking to close-in and affordable residential markets such as Mount Baker for housing. Strong demand continues with vacancy at 2.9 percent for properties within a 1-mile radius of the subject site.
Coliving – a growing occupancy style akin to co-working which is growing quickly in the marketplace and which provides significantly enhanced returns. The Company has engaged Common (www.common.com) to review the existing massing studies for the Project and provide suggested design changes and financial modeling for a co-living in the Project.
Crossroads is a mixed-use apartment building located on two land parcels on the south side of the iconic intersection of Rainier Avenue South and Martin Luther King Boulevard in Seattle, Washington. The Project includes 156 residential apartment units, including SEDU (small efficiency dwelling units), studios, one bedroom and co-living units. The Project features top rate amenity space for the tenants, including both indoor and outdoor rooftop gathering spaces. The project also includes approximately 6,315 square feet of ground floor retail space.
Crossroads is a Transportation Oriented Development (T.O.D.) and is located kitty-corner from the Mt. Baker light rail station. Annual rent growth in the Mount Baker area has averaged approximately 4.8 percent over the past five years. The population is also growing at more than three times the national average and many are now looking to close-in and affordable residential markets such as Mount Baker for housing. Strong demand continues with vacancy at 2.9 percent for properties within a 1-mile radius of the subject site.
Coliving – a growing occupancy style akin to co-working which is growing quickly in the marketplace and which provides significantly enhanced returns. The Company has engaged Common (www.common.com) to review the existing massing studies for the Project and provide suggested design changes and financial modeling for a co-living in the Project.