SEATTLE — Capstone Development Partners and Harrison Street Real Estate Capital have closed on equity financing for an on-campus mixed-use development at Seattle University.
The 143,000-square-foot mixed-use development will include 300 beds of student housing and 16,000 square feet of office space to be used as administrative offices for the university. Financing for the $50 million development was completed under Capstone and Harrison Street’s P3+ development model. Construction on the project is already underway, with an opening scheduled for August 2018.
Ankrom Moisan Architects designed the project, which Howard S. Wright, a Balfour Beatty Company, is constructing. Seattle University Housing & Residence Life will provide residence life programming services, while Capstone and Harrison Street will provide asset management and Blanton Turner will provide facility maintenance services, all in a shared governance approach.