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Main Street & HAL Acquire Woodinville Development Site for $23M
Main Street Property Group and HAL Real Estate have closed on a 4.25 acre land parcel for $23 million in Woodinville, WA and plan to develop a 207-unit mixed-use project plus 63 townhomes. The property was formerly known as the Woodgate Shopping Center and is located across the street from the firms’ Schoolhouse District development.
“Downtown Woodinville is a thriving community that has a bright vision for its future,” said Main Street SVP Kim Faust. “We are invested in enhancing this community and are excited to be a part of the area’s continued growth and revitalization.” The partnership has secured land use and environmental approval from the city.
The first phase of the development is called Eastrail Flats, offering 207 apartments, 21 of which will be affordable, along with 24,000 square feet of ground floor retail. The project will be LEED Platinum & Fitwel certified with wellness-focused amenities including a rooftop butterfly habitat, an expansive fitness center and two courtyards. Construction is slated to begin in early 2023.
- ◦Sale/Acquisition
- ◦Development
