Carmel Partners has started demolition of the old Stoneway Electric building on the corner of Stone Way North and North 38th Street.
The development is an eight-story residential building containing approximately 243 apartments in ~208,304 gross square feet of building area (or approximately 179,954 GSF, excluding below grade parking).
Approximately 76 parking spaces will be provided as well as 576 square feet of ground floor retail space.
The project also features a courtyard and a co-working space for residents. The land was purchased in 2020 for $13,750,000. It is across the street from Evo's "Campus Seattle" block.
Carmel Partners operates in seven U.S. cities. Their properties include renovation and ground up developments. Bush Roed & Hitchings is the surveyor, Communita Atelier is the landscape architect, and Cunningham Group Architecture is the interior designer.