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Capstone and Harrison St. Kick Off P3 Project at UW Bothell

Capstone and Harrison St. Kick Off P3 Project at UW Bothell

On-campus housing developer Capstone Development Partners and Harrison Street, an investment management firm focused on alternative real assets, recently announced the development of a mixed-use on-campus student housing public-private-partnership (P3) project at the University of Washington Bothell. This is part of the partnerships’ pursuit of a social infrastructure strategy.

Beginning in 2019, UW Bothell pursued a P3 to redevelop and replace its existing Husky Village student housing which is nearing the end of its useful life. Through a competitive RFP process, the Capstone-Harrison Street team was selected by the University of Washington as its partner to transform the 4.4-acre site into a mixed-use student housing community, and new gateway entrance to the campus incorporating enhanced public transit and cycling mobility.

The new 300,000-square-foot student housing community will offer 1,055 beds across three six-story residential buildings with traditional residence halls, suites and apartment housing serving undergraduate and graduate students. The new development will also include a 15,000-square-foot dining facility and 20,000 square feet of office administrative space.

Construction of the project commenced in October 2021 and is being constructed in two phases with phase 1 scheduled to open February 2023 followed by phase 2 in August 2024.

The project was designed by Mahlum Architects and is being constructed by Anderson Construction. Capstone Management Partners will operate and manage the project in coordination with the university.

Jim Hennessy is managing director and head of P3 development at Harrison Street.

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Jim Hennessy

About Lisa Brown

Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM. In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.

  • ◦Development