Legacy Partners (Legacy), a privately owned national real estate firm, announced today the grand opening of The Triangle, a six-story, 195-unit apartment community at 16450 Redmond Way in Downtown Redmond.
Located on a triangular lot at the intersection of Redmond Way, 166th Ave NE and NE 79th Street, this multifamily, mixed-use building designed by Tiscareno Associates will feature a mix of one- and two-bedroom apartments, lofts, and live/work units, plus 9,500 square feet of amenities, 195 parking stalls, and 4,775 square feet of retail space. Monthly rents start at $1,800.
“Downtown Redmond has become a highly desired residential neighborhood, now combining the virtues of clean, abundant parks, excellent schools, and a safe environment with the energy and choices found in true city living,” said Kerry Nicholson, Senior Managing Director at Legacy. “And soon we will also be seeing the light rail service to Microsoft, Downtown Seattle, Sea-Tac Airport, and more.”
Situated between the neighborhoods of Old Town and Anderson Park, The Triangle is just blocks from Redmond Town Center and Trader Joe’s, as well as dozens of restaurants and cafés. The building is only three blocks from the future light rail station.
“Developing a design that responded to the streetscapes on all sides of the building was extremely challenging in a downtown urban area,” said Kate Miller, Associate Principal Architect for Tiscareno Associates and the lead architect for the project. “Form and function went hand in hand on this project as we pieced together the puzzle. Each corner of the Triangle has a unique expression as well. We refer to the signature west corner as the ‘Flatiron’ of downtown Redmond because it echoes the shape of the famous NY landmark building. We’re very excited to see this glass- and metal-clad expression come to life.”
The Triangle is part of the City’s Downtown Couplet Conversion Project, which aims to create a more user-friendly downtown for cars, bikes, and pedestrians by converting Redmond Way and Cleveland Street to two-way streets, further enhancing the thoroughfare.
As a developer, Legacy has delivered more than 1,385 multifamily units across three states making 2018 one of their most active years. The Triangle is Legacy’s third project in Redmond. The company delivered the 319-unit Riverpark project in 2009 and the 177-unit Milehouse project in October 2015.
About Legacy Partners
Legacy Partners (Legacy), a privately held real estate firm founded in 1968 and headquartered in the San Francisco Bay Area, owns, develops and manages multifamily communities throughout the United States. Legacy has regional offices in California, Colorado, Florida, Texas, and Washington and have developed more than 60,000 apartment homes in Arizona, California, Colorado, Nevada, Oregon, Texas, and Washington. Since inception, Legacy has worked with some of the world’s largest financial institutions, life insurance companies, and real estate companies, consistently returning exceptional results.
Legacy provides management services for its own portfolio, as well as other owners. Combined, Legacy manages a portfolio of over 60 multifamily communities with more than 14,000 apartment homes, and with a gross value in excess of $2 billion.
About Barings Alternative Investments
Barings Alternative Investments (BAI), part of Barings LLC, is a 460+ associate team located across 11 countries that manages $49+ billion* in client capital. BAI seeks differentiated sources of returns by incorporating decades of investment experience in alternative assets offering investors access to a diverse range of opportunities across private equity, real assets, asset-based investments and the four quadrants of real estate. We serve as a trusted partner to clients, leveraging our global presence and robust origination capabilities to identify the most attractive risk-adjusted return opportunities. As a leading global real estate investor and asset manager, the Barings Real Estate team offers a broad range of investment opportunities across the public and private debt and equity markets, investing across property sectors with a focus on global relative value and trend-backed preferred strategies.
About Barings
Barings is a $306+ billion* global financial services firm dedicated to meeting the evolving investment and capital needs of our clients. We build lasting partnerships that leverage our distinctive expertise across traditional and alternative asset classes to deliver innovative solutions and exceptional service. Part of MassMutual, Barings maintains a strong global presence with over 1,800 associates and offices in 16 countries.
About Tiscareno Associates
Tiscareno Associates is a Seattle-based architecture and urban design firm with an impressive and varied roster of projects. Over the years, the company has distinguished itself for planning, designing, managing, and delivering complex mixed-use projects, large commercial projects, and multi-phased renovations. The team has developed a reputation among residential and commercial clients for its responsiveness, leadership, and ability to balance fresh ideas with unwavering commitments to budgets and schedules.
