SEATTLE—IHP Capital Partners and Intracorp entered into a joint venture partnership in the acquisition of a 1.5-acre unimproved site for the development of a new urban infill community that is yet to be named. IHP and Intracorp plan to offer the first new homes for purchase in mid-2021.
Located between the North Beacon Hill and Mount Baker neighborhoods, the development will bring 58 townhouses and four live-work units to the Seattle market, where new home supply is in high demand.
The new community will comprise nearly an entire city block between South Plum Street, South Hill Street, and 24th and 25th Avenues South, making it significantly larger than any other infill project currently under construction in the city.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
