Nitze-Stagen, a Seattle-based developer, has started construction on the 900 Rainier project – an eight-story mixed income apartment community located at the north end of Rainier Valley. The project is estimated to cost $112 million and was made possible by a loan from an affiliate of Mack Real Estate Credit Strategies LP. Jake Leibsohn and Ron Peterson from Northmarq’s Bellevue office arranged this loan with assistance from Pinnacle Partners, a Seattle based opportunity zone investment company.
The design for 900 Rainier was created by Jackson Main Architecture while Venture General Contracting will be building it out. Other members of the team include Raftery Suver; Karen Kiest Landscape Architects; DB Engineering; Bush, Roed & Hitchings; CT Engineering; PanGeo ; BEE Consulting ; McKinney Engineering ; Emerald City Engineers ; and Counterbalance Studio .
This nearly 400 unit development will also feature 41 affordable apartments as well as 81 units developed under Seattle’s Multi Family Tax Exemption program along with 2 000 square feet of retail space along Rainier Avenue South .
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