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Seattle’s First Opportunity Zone Development Gets Underway

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Seattle-based Opportunity Zone investment firm Pinnacle Partners and developer Nitze-Stagen broke ground on Seattle’s first Opportunity Zone development. Local civic dignitaries, representatives from the historic neighborhood and Opportunity Zone investors gathered at the development site to mark the milestone.

The $30-million apartment building in the historic Pioneer Square is called Canton Lofts. The project will feature 80-units with transit accessibility and provide affordable one-bedroom studios.

Pinnacle’s Jeff Feinstein says, “I think that this project and a similar project we funded in Los Angeles near Staples Center exemplifies the spirit of the OZ program-redirect gains into developing O-Zones in need of affordable housing, community impact and job creation.”

Feinstein says they are sourcing projects exclusively on the West Coast to deliver senior living, workforce housing and industrial projects. The development team notes Opportunity Zones are needed to help tackle housing affordability.

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

  • ◦Development