Thornton Place
The Challenge For years, the character of the Northgate neighborhood in North Seattle has been largely defined by an outdated shopping mall, low density retail, and a mixture of single family and low-grade multifamily buildings. In 2001, however, Seattle Mayor Greg Nickels made the revitalization of the Northgate neighborhood one of his top priorities. At the heart of this revitalization effort was the south parking lot of the Northgate Mall, which included an 8-acre lot of empty asphalt and a Metro Park-N-Ride. While several developers had attempted to initiate projects on the land, a combination of factors resulted in the land remaining undeveloped for decades.
The Strategy In 2003, the development firm, Lorig Associates, succeeded in working with the city of Seattle, Northgate Mall, King County Metro, and local stakeholder groups to broker a deal in which they would purchase 5.9 acres to develop a transit-oriented, mixed-use project. Having targeted urban infill as a niche opportunity a year earlier, Stellar Holdings took advantage of the opportunity to become the primary investor in the project. Today, the partnership is an ideal marriage of Stellar’s investment skills and Lorig’s development expertise, enhanced by both firms’ commitment to enhancing communities.
The Results Slated for completion in 2009, Thornton Place will play a pivotal role in the revitalization of Northgate into a more pedestrian-friendly neighborhood with public art and outdoor gathering spots. Specifically, it will bring to the market:
- 278 affordable and market rate, LEED-certified apartments
- 109 market rate, LEED-certified condominiums
- A 14-screen Regal IMAX cinema
- 50,000 square feet of retail
- The 2.9-acre senior housing development, Aljoya
As part of Stellar’s commitment to sustainability, the development is serving as a pilot project for the U.S. Green Building Council’s LEED for Neighborhood Development Program. As part of the program, portions of Thornton Creek, which currently runs underground into a culvert under the south lot, will be converted into an open water channel, using a natural drainage system technology which mimics nature.