Skanska invests USD 296M, about SEK 3 billion, in a multi-family development project in Seattle, Washington, USA

Rhea-AI Summary

Skanska announced a USD 296M investment in the Kaye multi-family development project in Seattle, WA. This project will involve the development of a 31-story, 324-unit Class A apartment building featuring underground parking and retail space. The construction contract is valued at USD 190M and will contribute to the US order bookings for Q4 2022. Construction is set to begin in December 2022, with completion expected in Q2 2025. The project aims for LEED Gold, Fitwel, and WiredScore certifications.

Positive

• Total investment of USD 296M indicates a strong commitment to the Seattle market.
• Expecting inclusion of USD 190M construction contract in Q4 2022 US order bookings.

Negative

• None.

STOCKHOLM, Nov. 23, 2022 /PRNewswire/ -- Skanska invests in Kaye, a multi-family development project in Seattle, Washington, USA. The total investment is USD 296M, about SEK 3 billion. The construction contract is worth USD 190M, about SEK 1.9 billion, which will be included in the US order bookings for the fourth quarter 2022.

Skanska will develop and build a 31-story, 324-unit Class A apartment building in Belltown, Seattle. The project will feature underground parking and a ground floor with mixed-use space, and retail space.

The Project is targeting LEED Gold, Fitwel, and WiredScore certifications.

Construction starts in December 2022, and completion is scheduled for the second quarter 2025.

For further information please contact:

Alicia Jones, Director Communications, Skanska USA, tel + 1 703 835 2762
Jacob Birkeland, Head of Media Relations and Public Affairs, Skanska AB, tel +46 (0)10 449 04 94
Direct line for media, tel +46 (0)10 448 88 99

This and previous releases can also be found at www.skanska.com.

The following files are available for download:

https://mb.cision.com/Main/95/3671292/1689017.pdf

20221123 US Multi Family

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SOURCE Skanska

FAQ

What is the investment amount for the Skanska multi-family project in Seattle?

Skanska is investing USD 296M in the Kaye multi-family project in Seattle.

When will construction start for the Kaye project in Seattle?

Construction for the Kaye project is scheduled to start in December 2022.

What is the expected completion date for the Kaye development?

The Kaye development is expected to be completed in the second quarter of 2025.

How many units will the Kaye project have?

The Kaye project will consist of 324 Class A apartment units.

What certifications is the Kaye project targeting?

The Kaye project aims for LEED Gold, Fitwel, and WiredScore certifications.