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Partnership Puts Multifamily Project in Play

SEATTLE-Construction is slated to begin this month on a joint venture between Harbor Properties and Vulcan Inc. Alcyone, a 162-unit residential project located in Seattle's Cascade neighborhood, will rise on Thomas Street and Minor Avenue North.

By Gina Binole | Updated on January 06, 2003

SEATTLE-Reiterating their commitment to the neighborhood plan, Harbor Properties and Vulcan Inc. say they will break ground later this month on Alcyone, a 162-unit multifamily project, located in Seattle’s cascade neighborhood on Thomas Street and Minor Avenue North.

Alcyone will feature studios, one- and two-bedroom apartments, and live/work lofts ranging from 542 to 944 sf. The building, which also will include 1,600-sf of ground-floor retail space, is a moderate market-rate apartment project (between 60% and 110% of Seattle’s median household income), which is called for in the Cascade neighborhood plan.

“Housing is an important component of Vulcan’s vision of South Lake Union, and we are delighted to launch our first residential project with Harbor Properties,” says Ada Healey, vice president of real estate for Vulcan. “As more businesses, retailers and cultural organizations continue to gravitate to this area, it is likely that many Alcyone residents will both live and work in the same neighborhood.”

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