IHP Capital Partners and Intracorp have formed a joint venture partnership in the acquisition of a 1.5-acre unimproved site for the development of a new urban infill community. Located between the North Beacon Hill and Mount Baker neighborhoods, the yet-to-be-named community will bring 58 townhouses and four live-work units to the Seattle market, where new home supply is in high demand.
“Seattle is a world-class city with a thriving economy and strong workforce, with one of the highest populations of millennials in the United States,” said Reneé McDonnell, senior vice president for IHP Capital Partners. “We are pleased to partner with Intracorp, a longstanding leader in Pacific Northwest homebuilding, to bring much-needed new product to this market. These new townhomes are designed to reflect all that the city of Seattle has to offer and appeal to residents looking for an active lifestyle.”
Development is under way and construction is anticipated to begi
