A joint venture between MainStreet Property Group and HAL Real Estate has completed Eastrail Flats, a five-story, 207-unit partially affordable mixed-use community located in the Seattle suburb of Woodinville, Wash. The development includes the city’s first affordable apartments.
It’s the second major affordable housing community opening this season, following Kōz Development’s September ribbon cutting of Kōz Uptown, a 169-unit community located near the Seattle Center.
The project was developed in close collaboration with the City of Woodinville. It is the first multifamily community in the city to include inclusionary housing through A Regional Coalition for Housing, a countywide partnership that constructs and preserves below market rate multifamily and single-family homes. The building includes 26 income-qualified units for residents earning up to 50 percent of the area median income.
In February 2023, MainStreet and HAL Real Estate Investments secured $66.2 million in construction lending for the project from Principal Financial Group, according to Yardi Research Data. Institutional Property Advisors, a division of Marcus & Millichap, originated the five-year loan, which featured 31 months of interest-only payments and a 30-year amortization. The partners had acquired the roughly 4.3-acre development site for $23 million in late 2022.
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DAHLIN Architecture | Planning | Interiors designed the community. Other partners included Vida Design Inc., which curated the interiors, Atwell, LLC, providing landscape and civil engineering, GenCap Construction Corp., which served as general contractor and DCI Engineers as structural engineer.
The community is pursuing LEED Platinum certification, with an emphasis on energy efficiency, air quality and sustainable building practices.
Wellness in Woodinville
Eastrail Flats has a mix of studios, one-, two- and three-bedroom apartments ranging in size from 483 to 1,255 square feet, with an average of 791 square feet. Rents range from $2,008 to $3,644, with an average of $2,559, according to Yardi Research Data.
The apartments feature air conditioning, quartz countertops, stainless steel appliances, soft-close cabinetry, digital locks, above standard ceiling heights, in-unit washers and dryers and oversized windows. Select units have double-height ceilings and private balconies or patios with mountain and territorial views.
Wellness-focused community amenities include a rooftop terrace, fitness center with two private studios, a clubhouse as well as a lounge with 20-foot ceilings a lodge-style indoor-outdoor fireplace and views of Mt. Rainier and the Sammamish River Valley. The property also features coworking lounges, a private wine-tasting areaa and a virtual golf suite. There are 260 parking spaces and covered parking is available for an additional fee.
The transit-oriented project in downtown Woodinville also includes 24,300 square feet of retail space. Located at 17500 133rd Ave. NE, the property is adjacent to the city’s historic Woodinville rail line and the 42-mile Eastrail trail system.
Other on-site retail and services include BirchTree Academy, a STEM-based preschool, and Lake Washington Physical Therapy. Garlic Crush, a Mediterranean fast-casual restaurant, is slated to open soon along with other retailers.
Residents will also be close to the city’s parks and steps from the downtown mix of shops, services and experiences, including The Schoolhouse District’s Walla Walla Steak Co., Ballard Pizza Co., tasting rooms such as L’Ecole No. 41 and Barnard Griffin and handcrafted pastries at SheChill Patisserie.
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