National multifamily real estate developer Wood Partners and their capital partner, ParkProperty Capital, kicked off the official groundbreaking of its latest residential community, Alta North City, located just north of Seattle in Shoreline’s growing North City neighborhood. With construction on the project already underway, Alta North City is expected to open in mid-2025.
The forthcoming community will be situated less than 20 minutes north of downtown Seattle in the emerging suburb of Shoreline. With the development of Alta North City, Wood Partners aims to provide a true live, work, play community for residents with convenient access to the upcoming Link light rail stations, a variety of shopping options, restaurants, and parks just outside their doors. The property itself will include more than 4,000 square-feet of ground floor retail with outdoor plaza space.
“We are beyond excited to officially break ground on our newest mixed-use project, Alta North City, in the growing city of Shoreline, which we hope will provide the perfect balance of city and suburban living for our future residents,” said Michael Nagy, Managing Director at Wood Partners in a statement. “Alta North City highlights Wood Partners’ continued expansion within the Seattle marketplace, as well as the company’s dedication to providing the highest level of quality and sophistication for residents to enjoy.”
Once complete, Alta North City will offer 228 apartment homes comprised of studio, one- and two-bedroom custom-designed floorplans for residents to choose from. Throughout the community, each home will have a vibrant design aesthetic, complete with high-end fixtures and finishes. Key interior living features include stainless steel appliances, quartz countertops, chrome gooseneck faucets, and designer tile backsplashes and accents throughout. Additional home features will include wall-to-wall wood-style flooring, full size in-unit washer and dryer sets, spacious closets and balconies, and energy efficient heating and cooling.
Outside, residents will also have access to a roof-top deck with views of the surrounding Puget Sound area. In addition, residents will have access to the community’s custom-designed clubroom with co-working features, garden courtyard, and a 24/7 state-of-the-art fitness center.
“We are excited to partner again with such a high-quality developer in Wood Partners and grow our footprint in Seattle,” said Brendan Whalen, Managing Director of ParkProperty Capital. “This will be our second investment in Seattle where we see a lot of opportunity given the continued growth and high quality of life in the metro. This is also the ninth investment through our discretionary fund platform that has invested over $350M in equity over the past two years into similar development opportunities throughout the major markets in the U.S. Sunbelt and Pacific Northwest, so this is an important milestone for ParkProperty Capital on multiple fronts.”
Wood Partners is acting as the general contractor and will manage the property once complete.
