High-Rise Residential Tower Breaks Ground in Seattle’s Denny Triangle
A new 40-story residential building, known as The Grand, has officially started construction. This major development is located in Seattle’s thriving Denny Triangle neighborhood. The project signifies a significant addition to the city’s housing market.
StoryBuilt, a national real estate developer, is leading this ambitious venture. The company aims to provide more urban living options in Seattle. The groundbreaking ceremony marks a key milestone for the project.
Project Details and Design
The Grand will stand as a prominent fixture in the city skyline. It is designed to offer 418 market-rate apartment units. These units will range in size, catering to diverse resident needs. The building will also include about 3,700 square feet of ground-floor retail space. This will enhance the street-level experience for both residents and the community.
Residents will enjoy a variety of amenities. These include a rooftop lounge, a fitness center, and co-working spaces. Furthermore, a pet run and concierge services will be available. The design focuses on modern urban living. It combines comfort with convenience.
Weber Thompson is the architectural firm behind The Grand’s design. Their plans emphasize contemporary aesthetics. They also prioritize functional spaces. Lease Crutcher Lewis serves as the general contractor. They bring extensive experience in large-scale construction.
Financing and Development Team
Securing financing was a crucial step for the project. StoryBuilt obtained a construction loan totaling $150.3 million. This funding came from PCCP, LLC. Additionally, Sound View Capital provided an $82 million preferred equity investment. These financial partnerships demonstrate confidence in Seattle’s real estate market.
The development team also includes other key players. KPFF Consulting Engineers is handling civil and structural engineering. Rushing is responsible for mechanical, electrical, and plumbing engineering. These partnerships ensure comprehensive project execution.
Impact on Seattle’s Housing Market
Seattle continues to experience high demand for housing. The Grand’s 418 new units will help address this need. The Denny Triangle area is particularly popular. It offers proximity to major employment centers and amenities. This development supports the city’s ongoing urban growth.
In addition to housing, the project will create jobs. Construction activities provide employment opportunities. The new retail spaces will also contribute to the local economy. They will offer new services and amenities to the neighborhood.
Looking Ahead
Construction is expected to last approximately two years. StoryBuilt anticipates completing The Grand by mid-2026. The project will then welcome its first residents. This development is part of a larger trend. Seattle is seeing continued investment in high-density urban living. The Grand will be a significant new landmark for the city.
