Final, 187-home, phase delivered at Spectra;
The Piper achieves topping out
REDMOND,
Wash., Sept. 7, 2023 /PRNewswire/ -- Quarterra
Multifamily, a subsidiary of Lennar Corporation and a vertically
integrated multifamily apartment builder, developer, and
property manager, in joint venture with QuadReal Property
Group, today announced key milestones at two luxury communities in
the Marymoor submarket of Redmond.
Spectra, a luxury mixed-use community at 17620 Northeast 69th
Court, the first apartment community to open in the core of
the emerging Marymoor Village, opened its third and final phase
with delivery of the 187-home West Building.
Less than a mile away, The Piper, a 284-home luxury community
directly fronting renowned Marymoor Park at 17305 NE 67th Court,
reached the topping out point in its continued construction. The
community is due to complete in H1 2024, with first residents
welcomed shortly afterwards.
"Quarterra and QuadReal are excited to lead delivery of
high-quality housing for people looking to relocate to the
burgeoning Marymoor Village," said Brad
Reisinger, Regional President for Quarterra. "Between
Spectra and The Piper, we are introducing more than 730 apartment
homes to the neighborhood, including 74 affordable homes for low
and moderate-income households. We are committed to creating a
sense of place in Marymoor Village that integrates great housing
with investment in public infrastructure, prioritizes local small
business retail and showcases public art."
Daniel Gliksman, Managing
Director, Americas-East at QuadReal, added: "The multifamily sector
has been, and remains one of our strongest convictions, underpinned
by favorable demographic trends. We continue to look for
opportunities to work alongside best-in-class developers and
deliver high quality residential real estate in fast growing and
desirable neighborhoods."
Marymoor Village was rezoned in anticipation of a nearby Link
Light Rail Station, which will provide unprecedented connectivity
with the surrounding region. Spectra, comprising of 450 apartment
homes and 37,259 square feet of retail space, offers the modern
conveniences and amenities of living found in urban podiums with
the openness and outdoor features provided in suburban garden
communities. Onsite amenities include an outdoor pool, multiple
playgrounds, fitness center, pea patches, dog run, several club
rooms, a rooftop lounge, and an expansive co-working area.
The apartment homes include new concept designs while offering
interior finishes that rival those in downtown towers.
Additionally, residents and the public alike can enjoy an extensive
public art offering including multiple murals, an interactive light
sculpture and bespoke art balconies.
Located at the neighborhood's front door and directly across the
street from the under-construction light rail station, Spectra
offers a curated retail mix that includes BrightHorizons daycare,
Stone Korean Restaurant, Sasquatch Strength and Phenix Salon
Suites, with two additional retail spaces available to
lease. Spectra residents also enjoy direct pedestrian access
to Whole Foods Market, as well as Downtown Redmond and the Redmond Town Center
via the East Lake Sammamish Trail.
"Quarterra and our partners could not be more proud of how
Spectra came together and its positive reception from our
residents, the neighborhood, and the City
of Redmond," said Reisinger. "We wanted Spectra to play an
integral role in Marymoor's evolution, and we're excited for the
community and its residents to help shape and influence the
direction of this incredible locale."
The Piper, which directly fronts the 640-acre Marymoor Park and
its sports facilities, trail system, dog park and concert venue,
will similarly beckon residents to engage with their surroundings.
The Piper's amenities will virtually cascade into the park, with an
emphasis on open-air experiences including an outdoor plaza and
resort-style pool and spa overlooking the park.
The Piper's 284-homes trend larger than those at Spectra and
many are designed to cater towards those needing more space. The
community is divided between two five-story mid-rise buildings
separated by a pedestrian art walk, highlighted by murals,
sculptures and other works from eleven different artists. The
community will also house an artists in residence program in a
dedicated space along the art walk.
Spectra is currently open and available to lease, while The
Piper will complete construction next year and welcome its first
residents in mid-2024.
About Quarterra
Quarterra Group, Inc., a wholly-owned
subsidiary of Lennar Corporation (NYSE:LEN and LEN.B), is a
multi-strategy, real estate focused, alternative asset management
company comprised of two rapidly growing verticals: Multifamily and
Single-Family Rental. Launched in 2011, Quarterra Multifamily,
previously known as LMC, is among the nation's most active
developers, builders, and managers and has been on the National
Multi-Housing Council's (NMHC) annual Top 50 list for
nine consecutive years.
Quarterra creates extraordinary communities where people can
live remarkably.
www.Quarterra.com
About QuadReal Property Group
QuadReal Property
Group is a global real estate investment, operating and development
company headquartered in Vancouver,
British Columbia. Its assets under management are
$73.8 billion. From its foundation in
Canada as a full-service real
estate operating company, QuadReal has expanded its capabilities to
invest in equity and debt in both the public and private markets.
QuadReal invests directly, via programmatic partnerships and
through operating companies in which it holds an ownership
interest.
QuadReal seeks to deliver strong investment returns while
creating sustainable environments that bring value to the people
and communities it serves. Now and for generations to come.
QuadReal: Excellence lives here.
www.quadreal.com
Media Contact
Marlena
DeFalco
LinnellTaylor Marketing
303-682-3943
marlena@linnelltaylor.com
Melissa Casser
QuadReal Property Group
416-673-7631
Melissa.cassar@quadreal.com
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SOURCE Quarterra
