By: dgardner

Resmark to build 7-story Redmond apartment project

Daily Journal of Commerce
July 12, 2013
By Journal Staff

Resmark Apartment Living bought a 1.2-acre site in Redmond on Northeast 83rd Street between 164th and 165th avenues northeast for nearly $4.8 million.

The land is permitted for a seven-story, 208-unit apartment complex.

Resmark already started demolition of Valley Furniture and Interiors on the site. Once demolition is complete, construction of the building will begin. Completion is expected in early 2015.

BCRA is designing the building and AP Rushforth is the general contractor. Seattle-based Intracorp will manage the development.

Resmark representatives said the apartments will range between 528 and 1,274 square feet and cater to young professionals. Units will have top-end finishes, including hardwood floors, stainless steel appliances and quartz countertops. The building will have free Wi-Fi in common areas as well as bike storage and maintenance areas. There will also be a gym, private courtyard with a lounge and barbecue and a community room with a full kitchen and flat-screen TV.

Just down the street, Legacy Partners Residential will start construction soon on a 180-unit project at 160th Avenue Northeast and Northeast 83rd Street.

The two projects will complement four apartment buildings already under construction in downtown Redmond for a total of 821 units. Here is a list of the projects, according to the city of Redmond website:

  • Resmark is teaming with Greystar Real Estate Partners to build a six-story, 134-unit project with 14,000 square feet of retail space at 16345 Cleveland St. The project is expected to be completed this fall.
  • Pine Forest Properties, the property management arm of homebuilder The Burnsteads, started construction last June on a six-story, 147-unit project with 3,000 square feet of retail space on the ground floor at 8397 158th Ave. N.E. The project is expected to be completed next   winter.
  • White/Peterman Properties of Merrillville, Ind., began construction last summer on a six-story, 149-unit project with 7,500 square feet of retail space at 16175 Cleveland St. The project is expected to be completed next spring.
  • Ichijo USA, the American subsidiary of Japanese homebuilder Ichijo Komuten, is building four three-story townhomes at 7950 150th Ave. N.E. Construction began last fall, and the project is expected to be completed later this summer.

Resmark Apartment Living is a subsidiary of Los Angeles-based The Resmark Cos. Resmark is a private investment firm that has invested in more than 150 projects totaling 24,000 units.

Original article via the Daily Journal of Commerce

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