Apartment project opens near Shoreline light rail station

Medina-based developer Evergreen Point Group announced Monday that it has opened The Line, a 241-unit apartment project in Shoreline. The property, at 132 NE 145th St., started accepting tenants Dec. 1.

The seven-story development is less than a half-mile from the Shoreline South/148th light rail station, which began service in August. It includes a European-style “woonerf,” a shared street that’s open to vehicles and pedestrians.

Evergreen Point Partners owners Alex Morcos and Faouzi Sefrioui’s vision for project took shape about five years ago, as Sound Transit’s $3.1 billion Lynnwood extension project was getting underway. They wanted to build a multifamily project near the Shoreline stop along the 8.5-mile addition.

“We made a quick decision,” Sefrioui told the Business Journal in May. “Both of us said, ‘OK, this location is good for us — let’s go for it.’ We did it the old-fashioned way.”

The company did not disclose the development’s current occupancy rate or the project cost. A permit filing with the city put the estimated construction cost at around $55 million.

The project is enrolled in the city’s multifamily tax exemption program, which offers tax breaks for new affordable housing. Twenty percent of the units are income-restricted.

Currently available apartments include a mix of studio, one- and two-bedroom units, with monthly rents ranging from $1,595 for a 427-square-foot studio to $3,135 for a 1,046-square-foot two-bedroom. The property has a rooftop lounge, pet amenities, media room, game room, coworking stations, fitness center and outdoor courtyard. There is also over 1,900 square feet of retail space.

Tiscareno is the architect and Exxel Pacific is the general contractor. Other project team members include Nelson Geotechnical; KPFF Consulting Engineers; Communita Atelier; YT Engineers; BEE Engineers; Windsor Engineers; Balderston Associates; Endelman & Associates and Object Space.

Evergreen Point Partners also plans to build the 360-unit Leeway apartments nearby, on the corner of Northeast 147th Street and First Avenue Northeast. A timeline for the project was not provided.

The Line is one of several multifamily developments opening along the mass transit corridor. The 1,654 apartment units that were under construction within a half-mile of the corridor as of earlier this year will double the multifamily housing inventory in the area, according to data provided by CoStar.