Esterra

Project Name: Esterra Park

 

Overview

Esterra Park is the first true urban live‐work campus ever created in the Pacific Northwest.    The 3 million square foot project will include over 1.2 million square feet of commercial space, over 1,400 residential units, a 275 room hotel, all surrounding a new 2.7 acre park.   Capstone purchased the land from Group Health Cooperative and demolished a vacant 550,000 square foot hospital to make way for the project.  Roads and utilities were completed in 2014.  The first 500 units of residential apartments are under construction – occupancy expected in early 2016.  A 275 room dual branded Starwood Hotel will break ground in June of 2015.  Capstone has permits to construct a 235,000 square foot office building; an additional 400,000 square feet of office can start six months later.   Capstone estimates 7,000 - 8,000 people will live and work at Esterra Park.   The project is the first phase of Redmond’s 170 acre Overlake Village master plan which will house 30,000 - 40,000 people when completed; approximately half the size of South Lake Union.

 

Transaction Type: Development

Location: Redmond, WA

Size: 3 million SF

Building Type: Master Planned Development

Website: Esterrapark.com

Video: Esterra Park 

© Capstone Partners 2015

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