Quarterra Multifamily and QuadReal Property Group have reached key milestones at two of their luxury Seattle-area projects, finishing the final phase of the 450-unit Spectra community and topping out The Piper, a 284-unit building.
Both of the properties are located in the Marymoor submarket of Redmond, Wash., in the emerging Marymoor Village neighborhood. The area has been rezoned in anticipation of a nearby Link Light Rail Station. Together, the projects will add upwards of 730 apartments to the neighborhood, including about 74 affordable homes for low- and moderate-income households.
Quarterra and QuadReal have worked together in the past. The Piper, which broke ground in December 2022, was their third joint multifamily project in the Seattle area. Shortly before the breaking ground at The Piper, which is expected to be online in mid-2024, the companies opened Ovation, a 548-unit high-rise in Seattle’s First Hill neighborhood and begun first move-ins for Spectra.
Spectra’s full spectrum
Located at 17620 Northeast 69th Court, Spectra was the first apartment community to open in Marymoor Village. The companies brought the third and final phase of the mixed-use project online this month with the completion 187-unit West Building. Construction on the community began in May 2020, backed by a $128.7 million loan from Wells Fargo, according to Yardi Matrix data. Located on nearly five acres, Spectra has 37,259 square feet of retail space.
Retail tenants include BrightHorizons daycare, Stone Korean Restaurant, Sasquatch Strength and Phenix Salon Suites, with two additional retail spaces available to lease. Spectra residents also have direct pedestrian access to a Whole Foods Market, as well as downtown Redmond and the Redmond Town Center via the East Lake Sammamish Trail.
Spectra, which is comprised of three five- and six-story buildings, has studio, one-, two- and three-bedroom floorplans, which range in size from 452 to 1,422 square feet. Leasing is ongoing at the property, which 45 units that are designated as affordable.
Apartment amenities include washer and dryers in all units, above-standard ceiling heights and digital locks. Community amenities include an outdoor pool, multiple playgrounds, fitness center, pea patches, a dog run, several club rooms, a rooftop lounge and a co-working area. The property also offers electric vehicle charging stations and a total of 555 parking spaces in a multi-level structure. Covered parking is available for an additional fee.
Residents and the public can enjoy an extensive public art offering, including multiple murals, an interactive light sculpture and bespoke art balconies.
A peak at The Piper
Situated on nearly three acres, The Piper is located at 17305 NE 67th Court, directly in front of the 640-acre Marymoor Park and its sports facilities, trail system, dog park and concert venue. The Piper’s amenities will also have an emphasis on an open-air experience and include an outdoor plaza and resort-style pool and spa overlooking the park. The property will have a club room, theater room, indoor kids’ playroom, outdoor children’s play area, pet spa, coworking spaces, electric vehicle chargers and 261 parking spaces.
The apartments at The Piper trend larger than those at Spectra, with many designed for households needing more space. Floorplans will include studio and one-, two- and three-bedroom units ranging in size from 475 to 1,400 square feet. Twenty-eight units will be designated as affordable, according to Yardi Matrix data.
The community is divided between two five-story mid-rise buildings, separated by a pedestrian art walk. Highlights include murals, sculptures and other works by 11 artists. The property will also house an artists-in-residence program in a dedicated space along the art walk.
In addition to being near the future light rail station, the property is a short drive from the area’s major highways, including Redmond Way, State Route 520 and East Lake Sammamish Parkway.
