Seattle-based Trent Development's principals are Trent Mummery and Patrick Ashman, who since 2017 have focused on acquiring parcels of land in opportunity zones in economically-distressed neighborhoods throughout the Pacific Northwest where new investments may be eligible for preferential tax treatment. 

The development  is eligible for tax exemptions through Seattle's multi-family tax exemption program because it plans to designate 20 percent of its units as affordable, work-force housing with attendant lower rents. 

"It was important that whoever participated as a JV partner had a strong track record of funding opportunity zone developments and had ample experience in multifamily construction and ownership," Leibsohn said in announcing the joint venture. "We were able to find that and more with Bridge Investment Group. We are excited to watch construction begin on this gateway building to Yesler Terrace's vibrant community."

The planned 47,447 square-foot site is at the nexus of the city's First Hill neighborhood (also known as "Pill Hill" for its high concentration of hospitals) and the its Chinatown-International district.

The property will consist of 37 studio units, 217 one-bedroom units, 15 two-bedroom units, five live-work units and more than 8,000 square feet of ground floor retail space. It will also feature a rooftop deck, community barbecues, a business center, a community clubhouse, controlled access, a bicycle storage and repair room, and a dog wash.