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Jasper by Alta Community in Wedgwood Nearly 50 Percent Leased Prior to Opening


July 9, 2012 - SEATTLE, WA

Wood Partners announced today that it has leased more than 50 percent of its new 91-unit luxury apartment community in Wedgwood, Jasper by Alta, which officially opens tomorrow.

Wood Partners broke ground on Jasper by Alta, located at 8606 35th Avenue NE in Seattle, in June of last year and construction is in its final weeks. The pre-leasing has been conducted by Indigo Real Estate Services.

"We are impressed with how well Jasper has been received, but not necessarily surprised, since a lot of people are starting to discover the wonders of Wedgwood and this is the first new luxury product the neighborhood has seen in a long time," said Steve Orser, Wood Partners' vice president of development for the Pacific Northwest. "The community has a warm and unique feel, even for Seattle and the Pacific Northwest, and every facet of Jasper by Alta was uniquely designed to complement that feel with an essence of soulful living."

Jasper by Alta is close by the University of Washington hospital and the currently expanding Seattle Children's hospital, two vibrant and growing employers, less than 10 miles to downtown Seattle, and just a very short drive from the 520 bridge crossing into the Redmond, Bellevue, and Kirkland employment centers. The area is extremely walkable offering a variety of nearby shopping options, including the robust University Village, and grocers, cafes, salons, and dining. There are also walking and bike trails including beach parks near Jasper.

"Wedgwood is not like other neighborhoods and Jasper by Alta is not like other apartment complexes," Orser said. "Jasper by Alta is a charming, smaller project nestled among the trees in a great neighborhood and there is nothing similar in its immediate area. And because Wedgwood is not a dense neighborhood, we can accommodate people's desire for more living space with spacious floor plans as large as 1,400 square feet. That's a lot bigger than most of the other apartment communities in the Seattle area."

Jasper by Alta features four stories with a single-level subterranean garage and an expansive green roof deck, as well as a spacious community room. The building features room to spread out not frequently seen in contemporary Seattle's urban apartments with studios, one- and two-bedroom units ranging in size from just under 500 to more than 1,400 square feet.

Among the unit amenities are beautiful slab granite countertops with glass tile backsplashes, hardwood-style laminate flooring in the kitchens and bathrooms, spacious walk-in closets and bathrooms, and one- and two-bedroom floor plans with den and bonus space. Many homes even have bay windows and private patios, decks and balconies.

In addition to the rooftop deck, which is perfect for entertaining, lounging, and barbecuing, the common amenities include Wi-Fi, a resident lounge and demonstration kitchen ideal for resident gatherings and meetings, and an adjoining media room with flat screen television and additional seating area.

The project was constructed by Exxel Pacific. The design team included Baylis Architects, DCI Engineers, Nakano Associates landscape architects and Sechrist Design Associates for interior design. The lender on the construction loan is Banner Bank.

Additional information is available at www.jasperbyalta.com.

About Wood Partners
Wood Partners is a national real estate company that acquires, develops, constructs and property manages high density and mixed-use communities. In 2011, it was ranked the nation's No. 1 multifamily developer with 3,750 unit starts. Through quality construction, responsible land development and intelligent design, our communities reflect the aesthetic and social fabric of the community and provide a luxurious living experience at a fair price. The company has been involved in the development of more than 40,000 homes with a combined value of more than $5.5 billion nationwide. Wood Partners has offices in 15 major markets nationwide including Atlanta, Baltimore, Boca Raton, Boston, Charlotte, Dallas, Denver, Houston, Newport Beach, Orlando, Phoenix, Raleigh-Durham, San Francisco, Seattle, and Washington, D.C. To learn more about Wood Partners, please visit our Web site at www.woodpartners.com.

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