Quarterra, MacNaughton Advance Construction on 796-Unit Seattle MF Project
Quarterra and the firm’s co-general partner, MacNaughton, announced the rapid advancement of vertical construction at their newest Seattle community. The 796-unit luxury mid-rise property will feature more than 25,000 square feet of retail space.
Following an August 2025 groundbreaking and a transition into major construction earlier this year, mass excavation work is complete, and utility undergrounding is nearly finished. Located at 3020 NE 45th Street, the community is directly adjacent to University Village and is 15 minutes from both Seattle and Bellevue job centers. Floor plans range from studios to three-bedroom designs.
Marking the first joint venture between MacNaughton and Quarterra, the community is being developed by the two firms, with MacNaughton joined by its long-standing Japanese investment partners, Nomura Real Estate Development Co., Ltd., Keihanshin Building Co., Ltd., and Kintetsu Real Estate Co., Ltd. This project represents MacNaughton’s 11th investment and Quarterra’s 14th development in the Pacific Northwest market.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout