LMC Announces Start of Construction of Ovation Apartments
Two-Tower Mixed-Use Development Projected to Open in 2021 in Seattle's First Hill Neighborhood
SEATTLE, March 5, 2019 /PRNewswire/ -- LMC, a leader in apartment development and management, announced the start of construction of Ovation, a luxury two-tower high-rise and mixed-use apartment community located at the gateway to the First Hill neighborhood of Seattle.
The community will feature two 32-story towers, 548 apartment homes and approximately 6,000 square feet of retail. That includes space for a full-service restaurant in the west building, which will take advantage of Ovation's location alongside a new public plaza. The 9,000-square-foot outdoor plaza will include a water feature and is located at the northwest corner of the block adjacent to Town Hall with commanding views of Freeway Park and the city's skyline. The community is projected to welcome its first residents in 2021.
"Starting construction on this community is the culmination of a wonderful, collaborative process working with our neighbors at Town Hall, the First Hill Improvement Association and the Freeway Park Association," said Brad Reisinger, division president of LMC for the Pacific Northwest. "In coordination with each entity, a plan was crafted to create a great pedestrian experience across the entire block, which then transitions seamlessly to the park and ultimately to downtown. We believe Ovation's sleek cosmopolitan apartment towers and large public plaza will complement Town Hall and the character of First Hill's streetscapes, presenting a one-of-a-kind living experience for our future residents."
Ovation is being developed in conjunction with QuadReal Property Group, JTM Construction, architect Perkins+Will, civil engineer Coughlin Porter Lundeen and structural engineer DCI Engineers.
"We're thrilled to join the First Hill neighborhood and LMC in creating Ovation – a place that discerning residents will call their home," said Tim Works, managing director, Americas for QuadReal Property Group. "Ovation's homes will be more than bricks and mortar, as they will enhance the lives of the residents and provide a truly unique addition to First Hill."
Ovation's location between Hubbell Place and 8th Avenue on Spring Street will be a highly visible part of the Seattle skyline and offer commanding views of the city to the west and Mt. Rainier to the south. The community is adjacent to the Central Business District and less than a 10-minute walk to both South Lake Union's thriving tech sector and the vast entertainment options of Capitol Hill. This location boasts a Transit Score of 100 and a Walk Score of 97. Ovation will share the block with Town Hall, a historical cultural center and performance hall. Near-immediate access to Interstate 5 and two major bus lines provide prime connectivity to key locales across the metropolitan area.
Ovation will offer studio, one-, and two- bedroom homes, including two-story penthouse layouts. Apartment homes will include various smart-home features to include Alexa enabled lighting, thermostats and window shades in addition to electronic door entry. Ovation is designed to incorporate all of the condo-quality finishes now standard in luxury apartment communities with specific emphasis on creating livable spaces for those looking to move-up from entry apartments or downsize from single family homes. Ovation will aim to meet this demand by offering many homes with oversized bedrooms, bathrooms and closets while providing a luxury array of amenities.
The community amenities will be spread amongst 17,400 square feet of space and include an extra-large, state-of-the-art fitness center, co-working spaces, movie room, pet spa and covered pet run and multiple resident lounges for entertaining large and small groups. In addition, two large rooftop amenity spaces will include a pool on the west tower and a Pacific Coast-inspired setting on the east tower conducive for children to explore and play. Both rooftops will feature outdoor fireplaces, grills and seating areas. Residents will also have access to bike stations with storage, wash and repair stations.
First Hill is one of Seattle's original neighborhoods and contains a diverse mix of architecture, ranging from buildings constructed in the early 1900s to cosmopolitan new developments. The neighborhood is often referred to as "Pill Hill" due to its high concentration of healthcare services. Many key medical facilities, including Virginia Mason Medical Center, Harborview Medical Center and Swedish Medical Center are within a 10-minute walk from the community site.
With a development pipeline of more than 2,500 apartment homes, the Seattle metropolitan area is one of LMC's most concentrated markets. LMC recently completed The Whittaker, Twenty20 Mad, Axle, and Valdok. A second phase of Valdok is scheduled to arrive in 2019 with The Bower in Kirkland and One Marymoor Park in subsequent years.
About LMC
LMC, a wholly owned subsidiary of Lennar (NYSE:LEN), is a multifamily real estate development and operating company with a diverse portfolio of institutional quality multifamily rental communities across the US. LMC has a 26,300-unit pipeline of communities ranging from operating to under development that exceeds $9.6 billion and consists of high-rise, mid-rise and garden apartments.
LMC creates extraordinary communities where people can live remarkably.
About QuadReal
Headquartered in Vancouver, Canada, QuadReal Property Group is a global real estate investment, operating and development company. The company's $27.4 billion portfolio spans 23 Global Cities across 17 countries. QuadReal was established to manage the real estate program of British Columbia Investment Management Corporation (BCI), one of Canada's largest asset managers with a $145.6 billion portfolio.
QuadReal aims to deliver prudent growth and strong investment returns, and to create and sustain environments that bring value to the people and communities it serves. Now and for generations to come. QuadReal: Excellence lives here.
Media Contact
Lindsey Bernhardt
LinnellTaylor Marketing
303-682-3941
[email protected]
SOURCE LMC
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