August 13, 2020
Beverly Hills, CA-based Kennedy Wilson and JV partner Vintage Housing Holdings launched three ground-up development projects across Puget Sound, The Station, Quinn and Pointe. Combined the properties will add 585 affordable homes to the platform that will reach roughly 10,000 completed units by 2022.
Construction on The Station at 6820 SE Wax Rd. in Covington, Quinn at 20057 Ballinger Way NE in Shoreline (pictured), and Pointe at 22837 Pacific Hwy. S. in Des Moines is expected to begin this month. All three projects are slated to deliver in 2022. The JV also secured a new, 18-year loan at 2.9% to fund the development and operation of the three new projects.
Kennedy Wilson’s Kurt Zech says, “The Vintage platform complements our growing market rate portfolio and provides a pathway for our team to act on opportunities across every segment of the multifamily sector, with a focus on delivering the quality finishes, amenities and resident experiences we are known for at Kennedy Wilson.”
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