Othello Partners: Right Place, Right Time
Local developers Othello Partners have a great piece of real estate on top of the Othello link light rail stop, and they know it. Their design for the parcel, known as The Station at Othello Park, has received a lot of buzz of late (though not everyone is a fan.
With good density, some retail, a large park space and planned LEED Silver certification, there is a lot to like about what they’re doing. And at a time when few new developments are breaking ground (and many large holes in the city are likely to remain so for a while), Othello Partners broke ground earlier this month and plan to be pre-leasing by 2011. They - and USAA Real Estate Company, who’s financing the project – clearly believe the timing is right of this sort of development, and I have to agree. While a terrific project like Thornton Creek is struggling to sell condos despite its transit-friendly and LEED certified status, the apartments there are renting on-target. Othello Station is all apartments, and I think the two year time difference in hitting the market can only be to its benefit. Looking forward to seeing this project go vertical.
