American Capital Group (ACG), a full-service real estate investment and development company, and PGIM Real Estate, the real estate investment and financing arm of Prudential Financial, announced a joint venture to develop The Foundry at Totem Lake, a multifamily project in the Kirkland, Wash., submarket of Seattle. Construction is set to begin in second quarter 2025, with completion expected by fourth quarter 2027.
Located at 12700 and 12704 NE 124th St., the development will feature a seven-story residential building, including three stories of structured parking. The community will offer 453 units with a diverse range of floor plans including studios, open-one, one-, two- and three-bedrooms. Residents will also enjoy premium amenities, including a resident lounge, a 7,000-square-foot fitness and wellness center (including a yoga studio, steam room and sauna), a game and sports lounge, co-working spaces, a great room for resident-hosted events, art studio, kid zone, arcade,
