Redmond City Center

https://www.bizjournals.com/seattle/news/2022/07/20/alliance-residential-buys-redmond-development-site.html A large, fully entitled downtown Redmond multifamily development site has sold for $35 million. A deed that King County posted Wednesday lists Alliance Residential as the buyer of the vacant 2.3-acre lot at 16135 NE 85th St. It's the national developer's first project in Redmond, where Microsoft is expanding and rents are soaring. The per-apartment price Alliance paid works out to $96,685. Scottsdale, Arizona-headquartered Alliance's Seattle office active in the Puget Sound region, with developments in Seattle and Bellevue. "We are excited to finally be in Redmond with our Broadstone brand," said Jeremiah Jolicoeur, Alliance's managing director in the Pacific Northwest. Ankrom Moisan Architects is the designer of the 362-unit project, and Alliance does its own contracting. The two-building development will have around 3,500 square feet of retail plus one parking space per residential unit. DCI is the project civil engineer and YT Engineers is handling the structural work. "We are ready to rock," said Jolicoeur. "We hope to be in the ground next month." He declined to name the project's financial backer or provide the cost of the development but said it's like "a rocket going to the moon." "We still felt the timing is right to move it forward," he added. Public records list the seller as company governed by James and Shiow-Rong Hwang. Online records show they're also officers at Cosmos Development Co. of Bellevue. "We worked with the seller to vet multiple options and land on the right capital to make the deal happen," Jon Hallgrimson, CBRE vice chairman said in a statement. He marketed the property with Eli Hanacek, Mark Washington and Kyle Yamamoto. Average monthly rents hit $2,403 in February, up 20% since March 2021, according to the Commercial Cafe website. Redmond's rents are the third highest in the region behind Bellevue's $2,533 and Issaquah's $2,526. "It's definitely stressful to close on deals right now, but we did it and think it will be a successful project," Jolicoeur said. ________________________ https://rebusinessonline.com/cbre-brokers-35m-sale-of-land-in-downtown-redmond-for-multifamily-development/ REDMOND, WASH. -- CBRE has arranged the $35 million sale of a land parcel in downtown Redmond to an undisclosed buyer. Eli Hanacek, Jon Hallgrimson, Mark Washington and Kyle Yamamoto of CBRE represented the undisclosed seller in the deal. Located at 16135 NE 85th St., the 99,883-square-foot parcel is fully entitled for the development of 425 multifamily units. Initial plans proposed prior to the sale called for two nine-story apartment towers with one-, two- and three-bedroom floorplans and ground-floor retail space. The site is within walking distance of the future Downtown Redmond Link light rail station, which is slated for completion in 2024. _____________________________________________________________________________________________________________________________ Plans call for the construction of a mixed-use development, comprised of two towers with 360 residential units and ground level retail. As of June 27, 2022, a building permit is under review. An architect is on board, but information regarding the method of general contractor selection has not been disclosed. Although a firm timeline cannot currently be established, construction is not expected to commence prior to third quarter 2022. *Project information, including timeline and contacts, has been obtained through public sources. The content management team continues to pursue additional details; however, the contact(s) listed have yet to disclose or confirm any information. Inquiries should be directed to the contact(s) listed.

7 Stories Above Grade, Apartments, 360 Unit(s). 1 Story Above Grade, 2,600 SF.

Division 01 -	General Requirements, Construction Facilities, Field Offices and Sheds, Sanitary Facilities, Construction Aids, Temporary Scaffolding and Platforms.
Division 02 -	Existing Conditions, Subsurface Investigation.
Division 03 -	Concrete, Concrete Forming and Accessories, Concrete Forming, Concrete Accessories, Concrete Reinforcing, Cast-in-Place Concrete, Structural Concrete, Precast Concrete, Site-Cast Concrete.
Division 04 -	Masonry, Unit Masonry.
Division 05 -	Metals, Structural Metal Framing, Structural Steel Framing, Structural Steel for Buildings, Steel Joist Framing.
Division 06 -	Wood, Plastics, and Composites, Rough Carpentry, Finish Carpentry, Millwork, Architectural Woodwork, Architectural Wood Casework.
Division 07 -	Thermal and Moisture Protection, Dampproofing and Waterproofing, Sheet Metal Waterproofing, Thermal Protection, Thermal Insulation, Weather Barriers, Built-Up Bituminous Roofing, Flashing and Sheet Metal, Joint Sealants.
Division 08 -	Openings, Doors and Frames, Metal Frames, Metal Doors, Wood Doors, Plastic Doors, Special Function Doors, Cold Storage Doors, Panel Doors, Sectional Doors, Entrances and Storefronts, Entrances, Automatic Entrances, Sliding Automatic Entrances, Windows, Hardware, Door Hardware, Glazing, Louvers and Vents.
Division 09 -	Finishes, Plaster and Gypsum Board, Gypsum Board, Tiling, Ceilings, Acoustical Ceilings, Flooring, Carpeting, Painting and Coating, Painting, Exterior Painting, Interior Painting.
Division 10 -	Specialties, Signage, Telephone Specialties, Compartments and Cubicles, Toilet, Bath, and Laundry Accessories, Fire Protection Specialties, Fire Protection Cabinets, Fire Extinguishers, Storage Assemblies, Metal Storage Shelving.
Division 11 -	Equipment, Vehicle and Pedestrian Equipment, Loading Dock Equipment, Residential Equipment, Residential Appliances.
Division 12 -	Furnishings, Casework, Rugs and Mats, Office Furniture, Site Furnishings, Trash and Litter Receptacles.
Division 21 -	Fire Suppression, Instrumentation and Control for Fire-Suppression Systems, Fire-Extinguishing Systems.
Division 22 -	Plumbing, Instrumentation and Control for Plumbing, Plumbing Piping, Facility Water Distribution, Plumbing Equipment, Plumbing Fixtures, Residential Plumbing Fixtures, Commercial Plumbing Fixtures, Drinking Fountains and Water Coolers.
Division 23 -	Heating, Ventilating, and Air Conditioning (HVAC), HVAC Insulation, Instrumentation and Control for HVAC, HVAC Air Distribution.
Division 26 -	Electrical, Instrumentation and Control for Electrical Systems, Power Distribution Units, Lighting, Interior Lighting, Emergency Lighting, Exit Signs, Exterior Lighting, Lighting Poles and Standards, Parking Lighting, Area Lighting, Site Lighting, Flood Lighting.
Division 27 -	Communications, Structured Cabling, Data Communications, Voice Communications, Distributed Audio-Video Communications Systems, Paging Systems.
Division 28 -	Electronic Safety and Security, Electronic Access Control and Intrusion Detection, Access Control, Electronic Surveillance, Video Surveillance, Electronic Detection and Alarm, Fire Detection and Alarm.
Division 31 -	Earthwork, Site Clearing, Clearing and Grubbing, Grading, Excavation and Fill, Earthwork Methods, Soil Treatment.
Division 32 -	Exterior Improvements, Bases, Ballasts, and Paving, Flexible Paving, Asphalt Paving, Rigid Paving, Concrete Paving, Curbs, Gutters, Sidewalks, and Driveways, Paving Specialties, Parking Bumpers, Pavement Markings, Fences and Gates, Irrigation, Planting Irrigation, Planting, Turf and Grasses.
Division 33 -	Utilities, Water Utilities, Sanitary Sewerage Utilities, Storm Drainage Utilities, Electrical Utilities, Communications Utilities.