November 18, 2016
Legacy Partners acquired 3.8 acres at 16425 Cleveland St. in downtown Redmond, WA from Cleveland Square LLC. The King County assessor appraised the land at $2.6 million.
The San Francisco-based Legacy is partnering with a Beijing company to develop at least 600 units on the site, with possible other uses. No groundbreaking date was announced. The site is a few blocks away from Redmond’s planned light rail station and Town Center Mall.
The just-closed land buy is the most recent of a series of Redmond-based projects spearheaded by Legacy. In September, the company broke ground on a six-story building – the “Triangle” project – that will have 195 units and 9,500 square feet of retail. And Legacy just sold its Milehouse, a six-floor apartment complex.
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