Situation
For years, the character of the Northgate neighborhood near downtown Seattle has been defined by its large shopping mall, low density retail, and mixture of single family and low-grade multifamily buildings. In 2001, however, Mayor Greg Nickels made the revitalization of the Northgate neighborhood one of his mayoral priorities. At the heart of this revitalization effort was the south parking lot of the Northgate Mall, an 8-acre lot comprised of empty asphalt and a Metro Park-N-Ride. While several developers had attempted to initiate projects on the land, a combination of factors resulted in the land remaining undeveloped.

Solution
In 2003, the development firm Lorig Associates succeeded in working with the city, Northgate Mall, King County Metro, and local stakeholder groups to broker a deal in which they would purchase 5.9 acres to develop a transit-oriented, mixed-use project. But Lorig needed an investor. Having targeted urban infill as a niche opportunity a year earlier, Stellar Holdings took advantage of the opportunity to become the primary investor in the project. Today, the partnership is an ideal marriage between Stellar’s investment acumen, Lorig’s development expertise, and both firms’ commitment to enhancing communities.

Results
Slated to finish construction in late 2008, Thornton Place will play a pivotal role in the revitalization of the Northgate neighborhood. Specifically, it will bring to the market:

• 278 affordable and market rate apartments
• 109 market rate condominiums
• 16-screen cinema
• 50,000 square feet of retail

As part of the mixed-use project, Thornton Creek, which currently runs into a culvert under the South Lot, will be converted into a water channel, on the other side of which 2.9 acres will be developed into senior housing by ERA Care.