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September 23, 2020
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Concord Pacific Spends $60 Mil on 40k sf Development Site in Downtown Seattle


Concord Pacific has purchased a 38.9k sf, half-block in downtown Seattle, adjacent to Amazon’s headquarters, for a mixed-use multifamily development. Concord Pacific, the largest master-planned urban community builder in Canada, acquired the asset in a joint venture with HB Management. The two-phased sale totaled a land value of $60 mil.

The development site, Seattle House, is located at 2300-2350 6th Ave in Seattle’s Denny Triangle neighborhood. A master-use permit is in place for roughly 1 msf of buildable space. The development plans include two 45-story residential towers reaching 465 feet tall.

Over 900 residences are entitled, although the final count and mix of units could change. In addition, there are extensive amenity spaces on the rooftops and in the 12-story podium, plus urban lifestyle-oriented retail for the street level of the building.

Ross Klinger with Kidder Mathews represented Concord Pacific in the transaction. Paragon Real Estate Advisors represented the seller, HB Management, a local developer and manager of downtown Seattle multifamily projects.

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