The development affiliate of the company, Wallace Properties Development Company LLC, builds sustainable, transit-oriented mixed-use development projects in urban centers in the Puget Sound. It was awarded Developer of the Year for 2012 by NAIOP.
Northgate III is in the planning phase and will have 138 Class A apartment units. Construction is scheduled to commence in August, 2017, initially funded by equity. Construction financing would need to be in place by October 1 in order to maintain the construction schedule. Lease-up is scheduled to commence in April, 2019, and stabilization by the end of that year.
The Eddy at Green Lake Village is a Class A mixed-use, apartment and retail project in the heart of Seattle's Green Lake Neighborhood. Located across 71st from Green Lake Village, this building will add 130 apartment units and 14,500 sf of retail space leased to Bartell Drugs. 20% of the apartment units will be rent restricted to be affordable to renters earning 80% of median income. For more information visit https://liveattheeddy.com/
Citizen, a LEED Silver, 107 unit project in the Pike/Pine Triangle of the Capitol Hill neighborhood, opened in March of 2012 and achieved 100% occupancy in less than four months. 525 Northgate, the sister to 507 Northgate, broke ground in May of 2013, and was completed in October of 2014. The two buildings together contain 428 apartment units and 80,000 square feet of retail space.
The company also develops retail and office buildings, most recently completing the new Snoqualmie YMCA for the City of Snoqualmie, and provides construction management and fee development services for its clients, with the capability to oversee all aspects of the design, permitting, financing and construction of commercial properties in the State of Washington.
The Acquisitions Division forms real estate partnerships to acquire commercial properties throughout the State of Washington. The Company is actively seeking new acquisition opportunities and new investors.