With an existing presence in Seattle, — Carmel Partners, experts in multifamily development, took notice of the waterfront Ballard neighborhood as an optimal submarket within the metropolitan area. Taking advantage of the investment opportunity and employing in-house teams of experts, the firm began developing a 28,335-square-foot apartment complex in the Fall of 2019. Located along 24th Avenue Northwest and Market Street, Carmel Partners today announces the launch of this luxury property, known as ‘Ballard Yards.’
Surrounded by the iconic Ballard neighborhood with its Nordic heritage, Carmel Partners constructed Ballard Yards on a site overlooking Salmon Bay and Fishermen’s terminal, home to much of the Pacific Northwest fishing fleet and the marine industrial businesses supporting the fleet. Ballard remains connected to its Nordic heritage, producing a character distinct from other Seattle neighborhoods. This rich history is further enlivened by preserved brick buildings, which now house trendy restaurants, coffee shops, micro-breweries and music venues–a collection of destinations distinct from those found in downtown Seattle.
Another unique amenity to Ballard is its connection to the water with numerous marinas and a nearby boat ramp providing access for kayaking, sailing and boating. The Ballard Farmers Market, brought to life by over 100 vendors, is also a year-round staple to the lively community, offering fresh produce, pastries, meat and fish.
Recognizing the need for connectivity within and beyond Ballard, Carmel Partners developed Ballard Yards on a site across the street from a metro bus stop, connecting South Lake Union to Downtown Seattle. The nearby Burke Gilman bike and pedestrian trail also offers an active mode of transportation to points east including the University of Washington.
Finding a dynamic balance between the past and the present, Ballard has become one of Seattle’s hottest neighborhoods. Drawn to the area by information and technology companies such as Amazon, as well as a growing number of education and healthcare companies, millennials and other residents are fueling Seattle’s record-breaking job growth. As a result, residents with high-paying jobs increase the demand for luxury housing options, with for-rent apartments as an attractive alternative to single-family homes. With this audience in mind, Carmel Partners developed Ballard Yards to welcome existing and incoming residents as they discover the array of employment opportunities and lifestyle amenities that Seattle has to offer.
In a property that brings modern updates to Ballard’s vibrant and industrial character, Carmel Partners establishes a stylish, yet welcoming presence starting in the lobby. Beyond, residents find a fitness center, community lounge, pet spa, and bike storage and repair room. Additionally, Carmel Partners invites residents to revel in 3,000-square-feet of common open space, from the courtyard opening up to Market Street to the scenic rooftop overlooking Salmon Bay. Additionally, there is 6,400 square feet of mixed retail space.
Aligned with a standard of excellence visible in past properties, Carmel Partner is developing these apartments with solid quartz countertops, full-height tile backsplash, modern cabinetry, stainless steel appliances and wood vinyl flooring in kitchen areas and all remaining spaces within the apartments. Ranging from studio to two-bedroom units, Carmel Partners creates an ideal haven for the modern renter.
About Carmel Partners
Carmel Partners is one of the leading specialists in real estate investment management with a focus on U.S. multifamily acquisition and renovation, and development and construction. The company also specializes in debt and lending opportunities. Carmel Partners, LLC was founded in 1996 and has offices across the country, including San Francisco, Los Angeles, Irvine, New York City, Seattle, Washington D.C., and Denver. For more information, please visit www.carmelpartners.com.
Release ID: 89062625