Polish developer Cavatina to enter Seattle's residential market

26
Jul
2023
News - Polish developer Cavatina to enter Seattle's residential market #Cavatina Holding #Poland #prefabrication #rental #residential #Seattle #United States

by Property Forum | Residential

Cavatina will launch its first residential project in the United States – a 13-story building in downtown Seattle, Washington, made of prefabricated components manufactured in Poland. The project is being developed by Cavatina in collaboration with the internationally renowned architectural firm, Epstein, based in Chicago. Cushman & Wakefield advises the Cavatina Group on matters related to purchasing land.


Seattle has experienced a growing population, leading to high demand for housing projects since 2017, after the period of the Great Recession. In recent years Seattle’s booming technology industry, with companies like Amazon and Microsoft headquartered in the area, contributed to a robust economy and attracted many young professionals to the region.

"Seattle is perceived as a good place to live, and its limited available land for new construction resulted in a competitive housing market. Additionally, the city's increasing population density and limited space for expansion led to a trend of urbanization, with more people seeking to live closer to the city centre and its amenities. This heightened demand for condos in downtown and central neighbourhoods. We see great potential there to utilize our experience and strength of the Polish modular construction industry. Our project will be located on 2nd and Clay Street in the Belltown neighbourhood, which is the most densely populated neighbourhood in Seattle”, says Bartłomiej Wentlandt, President of The Board of Cavare S.A., Cavatina Group.

Originally an industrial warehouse district, Belltown has transformed into a walkable, mixed-use neighbourhood filled with restaurants, shops, residential towers and community buildings including the Art Institute of Seattle.

Cavatina’s building aims to reinforce the walkable character of the neighbourhood by activating the ground street front with retail and publicly accessible amenities. The building will also be minutes away from the Space Needle, the Seattle Children’s Museum and the Climate Pledge Arena. Additionally, many of the apartments will have views of these iconic landmarks and of the Sea, just west of the property.

The building is planned to provide the Seattle market with apartments for rent.

"The entry of a Polish entity with significant experience and extensive expertise in the real estate market into the US market is, in my opinion, an incredibly exciting event. We have had the pleasure of working with the Cavatina Group for years in the Polish market, and now we can not only cheer for their development overseas but also support them together with Cushman & Wakefield’s Seattle Team in land acquisition and administrative matters. Seattle, with its high demand for residential sector growth, is an ideal place to introduce the PRS project”, says Krzysztof Misiak, Head of Cushman & Wakefield Poland.

The project is 13 floors high, will have approximately 12,000 sqm and will incorporate an underground parking garage, a retail podium and 140 apartment units. The apartment units will be of modular construction and prefabricated in Polish factories which will then be shipped to Seattle. This method of construction reduces construction waste, increases the speed of erection and maintains a high level of quality for the apartment units.

"Modular construction just made sense for our project, especially with Cavatina’s Polish heritage and the well-established Polish modular construction industry. The building design will rely heavily on structural considerations as the building is located in an active seismic zone. Sustainable practices aimed at reducing energy and water consumption will also be implemented. Stepped green roofs, terraces, and amenities such as fitness rooms, spas and dog runs, are aimed at attracting tenants and promoting healthy living practices”, explains Patrick Carata, Architectural Design Director at Epstein.

The residential project in Seattle marks the second time Cavatina has teamed up with architects from Epstein. In 2021, they collaborated on a concept for a unique cultural and entertainment space to be built on Bainbridge Island in the state of Washington, on the west coast of the United States.

The Cavatina Concert Hall building is planned to feature an indoor concert hall with a capacity of 500 people, an outdoor amphitheatre with seating for 600, exhibition spaces for art, meeting rooms for the local community, and rooms for music and art activities.




Latest news


New leases

  • Golden Star Estate has secured a long-term lease agreement with global technology solutions and consulting provider C&F for nearly 1,900 sqm of office space at the Konstruktorska Business Center. Following the transaction, the property, located in Warsaw’s Mokotów business district, is now almost fully leased. The Polish branch of C&F will officially relocate to the facility at the beginning of 2027.
  • Natland Group has committed to its long-term presence at Prague-based Rohan Business Center through a lease extension covering 2,004 sqm of office space, together with storage facilities and dedicated parking spaces, in a deal brokered by iO Partners.
  • Yareal Polska has expanded the commercial offering at its flagship SOHO mixed-use development in Warsaw’s Praga-Południe district, securing three new lease agreements totaling nearly 500 sqm of ground-floor retail space. The developer has strengthened its tenant roster by signing pet supplies retailer Maxi Zoo, ceramics workshop Alike Pottery Studio, and coffee distributor Unroasted.

New appointments

  • Indotek Group has announced the appointment of Diederik Bakker as Group Chief Investment Officer and Group Head of Asset Management. In his new role, the Dutch real estate investment professional will gradually assume responsibility for the company's ITAM (investment, transaction, and asset management) activities across 12 European countries, supporting the next phase of Indotek Group’s growth. His focus includes facilitating sound investment decisions across Europe and developing a group-level portfolio management strategy that combines local market knowledge with international asset management know-how.
  • Peakside Capital Advisors has appointed Bogi Gabrovic to advise the board and support its investment and acquisition activities in Poland. Gabrovic brings more than 25 years of CEE real estate experience to the role, having previously held senior executive positions at CTP, Golub & Company, and White Star Real Estate, where she managed transactions exceeding €2 billion.
  • Katarína Brydone, Jana Vlková and Vendula Maršová have been appointed as the first Equity Partners of Colliers’ Czech business. Brydone brings more than 20 years of experience in international real estate. Vlková has more than 25 years of experience in commercial real estate. Maršová, Partner and Head of Valuation and Advisory Services, brings more than 16 years of experience in real estate valuation and advisory.


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