Quarterra Multifamily and QuadReal Announce Start of Leasing at The Piper Apartments

Rhea-AI Summary

Quarterra Multifamily, a Lennar subsidiary, has begun leasing at The Piper, a luxury rental community in Redmond, Washington. Developed in partnership with QuadReal Property Group, The Piper offers 284 homes ranging from 475 sq ft studios to 1,400 sq ft three-bedroom units. The community features market-leading amenities and is located near the 640-acre Marymoor Park.

The Piper is part of three joint ventures between Quarterra and QuadReal in the region. It's situated close to the future Southeast Redmond Light Rail Station and major tech employers. As part of the MFTE/AARCH program, 10% of homes are offered at 50% area median income. This marks Quarterra's eleventh development in the Seattle Metro Area.

Positive

• Partnership with QuadReal Property Group enhances development capabilities
• Prime location near future Southeast Redmond Light Rail Station and major tech employers
• Diverse unit mix catering to various resident needs
• Participation in MFTE/AARCH program offering 10% of homes at 50% AMI
• Expanding presence in Seattle Metro Area with eleventh development

Negative

• None.

Redmond, Wash. community features 284 luxury homes in Marymoor Village

REDMOND, Wash., Sept. 18, 2024 /PRNewswire/ -- Quarterra Multifamily, a subsidiary of Lennar Corporation and a multifamily apartment developer, property manager, and asset manager, today announced the start of leasing at The Piper. Developed in partnership with QuadReal Property Group ("QuadReal"), a global real estate investment, operating and development company, The Piper is a luxury rental community located along Marymoor Park in Redmond, Washington.

The Piper's 284 thoughtfully designed homes offer a distinguished living experience for established professionals seeking an active lifestyle in the heart of the rapidly developing Marymoor Village. Residents can choose from three unique design styles, and the apartment mix includes one-, two- and three-bedroom homes, ranging from 475 square foot studios to family sized three-bedroom homes with 1,400 square feet of living space.

A market-leading suite of amenities including a pool and spa, kids play areas and co-working spaces cascade into the 640-acre Marymoor Park, a regional outdoor epicenter home to a summer concert series, a robust trail system, various sports facilities, a premier 40-acre dog park and climbing wall. 

"The Piper is designed to appeal to residents seeking the space to spread out and explore while still living within a vibrant neighborhood," said Brad Reisinger, Quarterra Regional President. "With immediate access to transit, retail and recreation, and open-air amenities to meet a variety of interests, The Piper presents a dynamic living experience for our future residents."

The Piper is one of three joint ventures between Quarterra and QuadReal in the region including Spectra, also in Marymoor Village, and Ovation in Seattle's First Hill neighborhood. 

"Working alongside strong partners is an important part of QuadReal's global strategy and with Quarterra we will deliver an exceptionally amenitized and well-located apartment community," said Jameson Weber, Managing Director, Head of Americas, at QuadReal. "The Piper is a high-quality addition to QuadReal's robust global residential portfolio and elevates the rental housing options in the community for individuals and area families." 

The Piper's two five-story mid-rise buildings are separated by a linear pedestrian art walk pathway designed through its participation in the City of Redmond's art program. Lined with murals and sculptures, the pathway features work from more than 10 different artists. The community also features an artist in residence program offering studio space to local artists.

Situated at 17305 NE 67th Ct. in Redmond, the community is just blocks from the future Southeast Redmond Light Rail Station and within a short drive of key thoroughfares, including Redmond Way, State Route 520 and East Lake Sammamish Parkway, allowing direct access to Bellevue, Seattle, Sammamish, Issaquah and Kirkland. The transit access links The Piper to the region's primary tech sector employers such as Microsoft, Facebook/Oculus, Amazon, Google, Space X, Nintendo and SmartSheet. The Piper is just a few minutes from downtown Redmond, the Microsoft campus and Downtown Bellevue. Residents also enjoy walkability to Whole Foods Market and easy access, via the Lake Sammamish trail, to Redmond Town Center – a mixed-use shopping and entertainment development with more than 110 shops, restaurants and breweries.

As a MFTE/AARCH program participant, The Piper offers 10% of its homes at 50% area median income (AMI).

The Piper is Quarterra's eleventh development in the Seattle Metro Area. It joins nine completed communities in Atlas, Axle, The Bower, Ovation, Spectra, Twenty20 Mad, Valdok I & II, and The Whittaker, as well as Tavin in Seattle's Crown Hill, which is currently under construction.

To learn more about The Piper please visit: https://thepiperapts.com/ 

About Quarterra Multifamily

Quarterra Group, Inc., a wholly-owned subsidiary of Lennar Corporation (NYSE:LEN and LEN.B), is a multi-strategy, real estate focused, alternative asset management company comprising three rapidly growing verticals: Multifamily, Single-Family Rental, and Land. Launched in 2011, Quarterra Multifamily, previously known as LMC, is among the nation's most active developers, builders, and managers and has been on the National Multi-Housing Council's (NMHC) annual Top 50 list for nine consecutive years.

Quarterra creates extraordinary communities where people can live remarkably.
www.Quarterra.com

About QuadReal Property Group

QuadReal Property Group is a global real estate investment, operating and development company headquartered in Vancouver, British Columbia. Its assets under management are $77.6 billion. From its foundation in Canada as a full-service real estate operating company, QuadReal has expanded its capabilities to invest in equity and debt in both the public and private markets. QuadReal invests directly, via programmatic partnerships and through operating platforms in which it holds an ownership interest. 

QuadReal seeks to deliver strong investment returns while creating sustainable environments that bring value to the people and communities it serves. Now and for generations to come.

QuadReal: Excellence lives here. 

www.quadreal.com

Media Contact
Marlena DeFalco
LinnellTaylor Marketing
303-682-3943
marlena@linnelltaylor.com

Hannah Wanlin
QuadReal Property Group
416-881-5129
Hannah.wanlin@quadreal.com

 

View original content:https://www.prnewswire.com/news-releases/quarterra-multifamily-and-quadreal-announce-start-of-leasing-at-the-piper-apartments-302251490.html

SOURCE Quarterra

FAQ

What is The Piper and where is it located?

The Piper is a luxury rental community developed by Quarterra Multifamily and QuadReal Property Group, located in Redmond, Washington, near Marymoor Park.

How many apartments does The Piper offer and what are the sizes?

The Piper offers 284 apartments, ranging from 475 square foot studios to 1,400 square foot three-bedroom homes.

What amenities does The Piper provide?

The Piper features amenities including a pool and spa, kids play areas, co-working spaces, and direct access to Marymoor Park's facilities.

Is The Piper part of any affordable housing program?

Yes, as part of the MFTE/AARCH program, The Piper offers 10% of its homes at 50% area median income (AMI).

How close is The Piper to public transportation and major employers?

The Piper is blocks away from the future Southeast Redmond Light Rail Station and within a short drive to major tech employers like Microsoft, Facebook, and Amazon.