SEATTLE, September 15, 2012 – An investor group led by Meriwether Partners started construction on an apartment development located at 19th Avenue East and East Mercer Street in Seattle. The property is located in the Capitol Hill neighborhood and the development will include 50 apartment units, 6,300 square feet of retail space at street-level, and 47 parking stalls. Meriwether acquired the 18,906 square foot site in August 2012. Construction is scheduled to be complete by the end of 2013.
“We were attracted to the site and the opportunity to develop a boutique apartment building in a highly desirable neighborhood, targeting a rapidly growing demographic of affluent, urban renters,” said Joel Aslanian, principal at Meriwether Partners. “We’ve assemble an experienced development and construction team including Lake Union Partners as project manager, Weinstein AU as architect, and MRJ Constructor as general contractor.”