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December 9, 2022
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PACIFIC NORTHWEST NEWS
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Legacy Partners and Lionstone Investments Underway on Second Phase of Redevelopment of Redmond Square Shopping Center

10/18/22

Legacy Partners and Lionstone Investments have begun work on the second phase of the redevelopment of Redmond Square Shopping Center, a mixed-use project in the heart of Downtown Redmond, WA. The development is composed of 623 residences in six stories on 3.5 acres. The first phase, which broke ground October 2021, is named Eastmark Grand. The second phase, Eastmark Central, recently broke ground on Sept. 28, 2022.

New York Life Real Estate Investors arranged financing for the construction loan for Eastmark Central at $107.3 mil. The development will open in phases with Eastmark Grand delivering in Q2-2024 and Eastmark Central in Q1-2025.

“The Eastmark redevelopment is in a highly interconnected submarket of downtown Redmond,” said Parker Nicholson, senior managing partner at Legacy Partners. “Eastmark’s residents will enjoy the project’s adjacency to SoundTransit’s Downtown Redmond Station -- now under construction -- as well as to a myriad of quaint shops, restaurants and high-tech employers located within a short walk of the site in Downtown Redmond and the Redmond Town Center.”

Eastmark Grand, the first of the development’s two buildings, is currently under construction at 16595 Redmond Way, with 311 apartments and nearly 20k sf of ground-floor retail space. The residences boast air conditioning and feature top of the line finishes, including chef-inspired kitchens complete with Bertazzoni and Kitchen Aid appliance packages, kitchen range hoods, microwaves built into the casework, and 3cm Carrera quartz countertops. The luxury bathroom finishes include tiled tub surrounds, floating vanities, and illuminated mirrors -- all rare offerings for mid-rise apartments in the Pacific Northwest.

The second building, Eastmark Central, at 16502 Cleveland St, will consist of 312 residences and approximately 13k sf of retail and commercial space.

Notable about the development is its walkability, a feature Redmond is actively promoting city-wide. Eastmark Grand will connect to Eastmark Central by via a European-style pedestrian walkway. Residents will be surrounded by green space, enjoying instant access to an on-site yoga studio and fitness center, clubhouse, pet salon, co-working and breakout workspaces, and a high-tech audio listening room, along with a significant concentration of ground floor retail and more than 600 indoor and outdoor parking spaces and bike stalls.

“This community is unlike anything we’ve ever built, in terms of its finishes,” added Nicholson. “We used the highest quality interior design features to create the perfect blend of urban and suburban, complemented by a convenient transit-oriented lifestyle and modern residential amenities.”

Tiscareno Associates, a frequent design partner of Legacy, is the architect of record for both Eastmark Grand and Eastmark Central. Legacy and Tiscareno also partnered on the design and development of Redmond’s Triangle Apartments (immediately to the north of Eastmark Central) and Milehouse Apartments.




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