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Thursday, June 20, 2024

Quarterra Secures Approval for 796-Unit Development Near U Village

Quarterra, a real estate development company, has recently obtained a Master Use Permit (MUP) for a large-scale residential project near University Village in Seattle, Washington. The proposed development will consist of 796 residential units, making it a significant addition to the area’s housing supply.

Key Details of the Project

  • Location: The project will be situated near the intersection of NE 45th Street and Brooklyn Avenue NE, in close proximity to University Village shopping center.
  • Unit Mix: The 796 residential units will include a mix of studio, one-bedroom, and two-bedroom apartments.
  • Amenities: The development will feature various amenities for residents, such as a fitness center, community spaces, and outdoor recreation areas.
  • Parking: The project will include underground parking to accommodate the needs of residents and visitors.

Potential Impact on the Neighborhood

The addition of 796 new residential units near University Village is expected to have a significant impact on the surrounding neighborhood. Some potential effects include:

  1. Increased Housing Supply: The project will contribute to addressing the high demand for housing in the area, potentially helping to alleviate the pressure on rental prices.
  2. Improved Walkability: With its proximity to University Village and other nearby amenities, the development is likely to promote a more walkable and pedestrian-friendly environment.
  3. Increased Foot Traffic: The influx of new residents may lead to increased foot traffic in the area, potentially benefiting local businesses and contributing to the vibrancy of the neighborhood.
  4. Potential Strain on Infrastructure: The addition of a large number of residents may put some strain on existing infrastructure, such as transportation and utilities, requiring careful planning and coordination with local authorities.

Next Steps and Timeline

Now that Quarterra has obtained the MUP, the company will need to secure additional approvals and permits before beginning construction. The timeline for the project’s completion will depend on various factors, such as the permitting process, construction schedules, and market conditions.As the project progresses, it will be important for Quarterra to engage with the local community, address any concerns, and work collaboratively to ensure that the development positively contributes to the overall character and livability of the neighborhood.

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