July 23, 2024
MUP arrives for 230 Fremont units
Real Estate Editor
The project is one of three Prometheus is planning in our market.
Demolition is nearing for a quartet of increasingly vacant old buildings at 3831 Stone Way N. , where Prometheus Real Estate recently secured its master use permit for a new apartment project. Designed by MG2 and Jones Architecture, of Portland, the seven-story building will have 230 units, underground parking and a modest amount of retail space.
Exxel Pacific will build the nearly 280,000-square-foot project, which hasn’t yet acquired a name. Construction is to be Type III-A wood over Type I-A concrete. The Mandatory Housing Affordability fee now stands at $5.2 million.
Prometheus is based in the Bay Area, and has a Portland office. Its Fremont team also includes SeaLevel Properties, local development partner; Place (of Portland), landscape architect; Coughlin Porter Lundeen, structural and civil engineer; Emerald City Engineers, MEP; Bee Consulting, energy consulting; GeoEngineers, geotechnical; TenW, traffic consultant; Cross2 Design Group, envelope; and Bush, Roed & Hitchings, surveyor.
The corner site is also bounded by North 39th Street to the north, where the garage entry will be located, and Bridge Way North to the west. About 2,456 square feet of retail space, in two bays, will flank the lobby facing Stone Way.
Twenty-three of 158 parking stalls, on two levels, will have EV charging. Bike rooms will have 235 stalls.
Apartments will run from studios to two-bedrooms, in a range from about 497 to 1,115 square feet. Amenities will include a gym, courtyard and terraces on the third and seventh floors.
Meanwhile, Prometheus and most of the names above are also planning 169 units on the former Harvey Family Funeral Home property in central Fremont. A MUP should arrive there in a matter of weeks if not months.
Also working with SeaLevel on Capitol Hill, Prometheus has a 75-unit project there, with permits in hand; that appears poised to start soon.
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