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.




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New leases

  • Froo Romania, a subsidiary of the Żabka Group, has relocated its HQ to the Bucharest-based Hermes Business Campus. The retailer secured around 2,900 sqm of office space in a transaction facilitated by Colliers.
  • Court One has signed a lease for approximately 6,300 sqm of space at MLP Business Park Vienna. The tenant, a subsidiary of the Padeldome group, is currently Austria’s largest operator in the sector, managing 42 courts across four locations in the capital.
  • Polish fashion and lifestyle brand Medicine has accelerated its domestic expansion, headlined by the opening of its largest store to date, a 985 sqm flagship at the Silesia City Center in Katowice. This strategic scale-up is mirrored by simultaneous growth in several regional markets, including a new 740 sqm unit at Magnolia Park in Wroclaw and a 600 sqm extension at Galeria Warmińska in Olsztyn. The retailer further bolstered its Silesian presence with a 500 sqm location at Pogoria Shopping Centre and a new opening at CH Platan, significantly increasing its total floor space across Poland.

New appointments

  • Avison Young has promoted Bartłomiej Krzyżak and Marcin Purgal to the roles of Co-Heads of the Investment Department in Poland. Krzyżak, previously Senior Director, brings 18 years of commercial real estate experience, having joined Avison Young in 2017. Purgal, also a former Senior Director and a member of the Royal Institution of Chartered Surveyors (MRICS), transitions into the co-head role with 23 years of experience in the CEE commercial markets.
  • Avison Young has strengthened its Polish leadership with three senior promotions. Patryk Błach ascends to Associate Director within the Investment Advisory Department. Kamil Głowienka has been named Senior Project Manager. Furthermore, Katarzyna Uzar becomes a Valuation and Innovation Specialist, tasked with integrating technological solutions and coordinating global departmental projects.
  • Katarzyna Myjak has joined Axi Immo as Senior Business Advisory Manager, tasked with strengthening the company’s Industrial & Logistics business line.


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