COVER STORY, FEBRUARY 2006
MIX AND MATCH
Developers mix uses to match needs and maximize effect.
Brian A. Lee
When the high-density environment of urban real estate met the time-crunched world of area residents, workers and visitors, a new model of commercial development was needed. Developers answered with multi-purpose offerings that meet more consumer needs while enhancing the appeal of work, play, shopping and meal time.
The Bravern, a $400 million mixed-use development, will break ground in Bellevue, Washington, this summer. Developer Schnitzer Northwest is mixing together market knowledge and extensive research with charming and functional office and retail designs to create what is being called the gateway to Bellevue.
Schnitzer Northwest will break ground this summer on $400 million The Bravern in Bellevue, Washington. The development will feature two cutting-edge office towers connected by 130,000 square feet of signature retail and prime dining locations.
Located at the interchange of Interstate 405 and NE 8th St., The Bravern will feature two Class A office buildings connected by an elaborate retail village. Innovative and comfortable office space will make it a place people want to work at while upscale retail and destination dining configured stylishly around an open-air plaza will attract consumers from day to night.
“The additional office space will enable Bellevue to become home to more businesses that are seeking an urban, work/live environment on the east side of Seattle,” says Tom Woodworth, senior investment director for Schnitzer Northwest, which was founded in 1997. “Not only will the project bring office and retail space, it will bring a distinction and personality to downtown Bellevue.”
The Bravern Office Commons will comprise a 13-floor building and a 23-floor building, totaling 745,000 square feet of modern space with a hospitality-inspired décor. Both structures will have their own “Great Room,” fireplace, meeting rooms, valet and concierge. A subterranean garage will accommodate 1,860 cars. And, of course, the estimated daytime population of 3,700 won't have to go far to find a bite to eat or run a shopping errand.
The Shops at The Bravern will consist of 130,000 square feet of signature retail — “unique shops that deviate from the mall atmosphere,” says Woodworth — and quality restaurant locations, including upscale brands and boutiques not yet found in Bellevue. The retail village will be accentuated with individualized storefronts and extensive landscaping. Visitors may take advantage of valet parking at The Bravern's grand arrival court; a 70-space surface parking lot is also available, making parking easy for shoppers and diners.
“Every detail of The Bravern was conceived and tested with customer input to determine what the consumer is looking for in an office and retail setting,” says Woodworth. “The Bravern presents a level of service that caters to the unmet needs of the east side audience.”
Schnitzer has a successful office model to go by — the 305,000-square-foot Class A Civica Office Commons, the company's other major Bellevue development that was sold in 2005. Seattle-based Callison Architecture Inc. provided the design work for The Bravern, which will open in fall 2008.
Village at Northstar
The convenience and attraction of a ski-in/ski-out location, a family-friendly focus and all-season access to the pristine natural environment on California's side of Lake Tahoe are sure to bring a mountain full of visitors to the new $250 million Village at Northstar in Northstar, California. Not to mention all the comforts and charm delivered by a proven ski resort developer — Colorado-based East West Partners.
“The new Village at Northstar brings together all the great aspects of North Lake Tahoe into one convenient village,” says Bill Fiveash, East West Partners' vice president of sales and marketing. “This will allow visitors to finally leave their car in the garage upon arrival and have all the amenities of a village and the beauty and recreation of Tahoe just out their front door.”
The Village at Northstar, the first phase of which opened in December, will consist of 213 residential, slope-side condominiums and approximately 140,000 square feet of commercial space surrounding a plaza and all-season outdoor ice-skating rink. The retail core of the village will feature names like The North Face, an Oakley “O” concept store and Starbucks Coffee.
East West Partners has worked with the principals of Booth Creek Ski Holdings, the ski area owner/operator, in Vail and Beaver Creek, Colorado. Both parties recognized the mixed-use potential of the destination ski area. “The true opportunity here was that the development is much more accessible by car than most other major ski resorts around the country,” says Fiveash.
The village's completion is slated for late 2006 or early 2007. One- to four-bedroom residences in the development's second phase will cost from $850,000 to more than $2.5 million. The property's architect is Colorado-based OZ Architecture. East West Partners has a hand in two area golf course communities that are connected to Northstar by The Tahoe Mountain Club, giving owners at any of the communities access to the amenities in all three.
Dallas-based Harvest Partners has unveiled its plans for The Landing, a 1.6 million-square-foot mixed-use urban village in Renton, Washington's south Lake Washington neighborhood. A $390 million joint venture with Harvest's financial partner, Chicago-based Transwestern Investment Company, The Landing will consist of 800,000 square feet of lively shops and restaurants, 900 residential units, a 140-room hotel, and 57,000 square feet of office space. All of this will be accented by abundant green space, tree-lined streets, open plazas and lush landscaping.
The Landing, a 1.6 million-square-foot urban village in Renton, Washington, will feature shops, restaurants, a hotel, residential units and office space.
The Landing will be the first of its size in Renton and one of the 10 largest mixed-use developments in the Puget Sound area. The 1.4 million-square-foot first phase is slated to open in fall 2007. Seattle-based Callison Architecture is handling design work for The Landing, and SD Deacon Corporation will act as general contractor. Transwestern Harvest Lakeshore LLC purchased the 68-acre property from Boeing Corp. in late 2004.
Renton has experienced a 27-percent increase in population since 1994. In King County, Renton is second only to Seattle in the number of new residents since 2000.
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