Multifamily Stays Robust with Microsoft Expansion, Bel-Red Corridor Growth
Aria Flats is in close proximity to the downtown Redmond light rail extension currently under construction and steps away from transit connections offering easy access to neighboring communities.
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REDMOND, WA—Seattle-based Pastakia + Associates’ newest project is the Aria Flats mixed-use development in downtown. Located at 7705 168th Ave. NE, the new 126,000-square-foot six-story mixed-use residential building is slated to feature 2,100 square feet of ground-level commercial space and 102 apartment homes.
Construction is underway with a target completion of March 2021. Pastakia is a development firm specializing in mixed-use urban infill.
“Our vision at Aria Flats is to create an iconic new community with unique homes, desirable amenity spaces and an engaging street presence, and we look forward to bringing a vibrant new presence to Redmond with this exciting project,” said Tejal Pastakia, Pastakia + Associates founder and principal. “We’re also excited about the location of Aria Flats, given its close proximity to the new downtown Redmond light rail extension currently under construction. Our residents will be just steps away from sustainable connections offering easy access to neighboring communities.”
The development is near the future downtown Redmond link extension and historic Anderson Park in downtown. It features an entry plaza and large rooftop terrace overlooking Anderson Park to Marymoor Park and Mount Rainier.
“Redmond is one of the Eastside’s hottest multifamily markets and we’re excited about the opportunity to expand our presence here with Aria Flats,” Pastakia tells GlobeSt.com. “With Microsoft’s campus expansion and the Bel-Red corridor growth, the demand for multifamily in this area should remain strong. ”
Indeed, the Eastside Market is going through an unprecedented period of growth, as a booming economy and space limitations in nearby Seattle are driving demand for commercial and multifamily projects that will change the face of the area, according to a Colliers report. Redmond, home of Microsoft, has also experienced tremendous investment and leasing activity. Facebook’s Oculus subsidiary, for another, has also cemented its presence, leasing 760,000 square feet in the past 12 months. Bellevue has long been the hub of business activity on the Eastside, with employment projected to grow 28% by 2035, centered around established and expanding tech firms, says the report.
Slated to achieve US Green Building Council LEED Silver status, Aria Flats will feature energy-efficient LED lights and eco-friendly cove heaters, as well as an innovative mechanized car-stacking system.
The units will include 16 loft spaces with private patios. The breakdown consists of studio, open one, one-bedroom, one-bedroom lofts, two-bedroom and two-bedroom loft units with two retail spaces below.
Compass Construction is the general contractor, Encore Architects is the architect, VIDA is the interior designer, Weisman Design Group is the landscape architect and Pastakia + Associates is the developer.
Since 2010, Pastakia has developed more than 2,500 units and more than 500,000 square feet of office and retail space in the Puget Sound region including Seattle, Redmond and Bellevue, WA.