Business - Business News

POSTED: Wednesday, Jul. 01, 2009

Bellingham-based Exxel Pacific lands major contract

Othello Partners of Seattle has selected Bellingham-based Exxel Pacific to build a 420,000-square-foot mixed-use apartment/retail project adjacent to Othello Station's Sound Transit light rail line in Rainier Valley.

The six-story building is slated for occupancy in the spring of 2011 and will be the first new mixed-use development along the light rail line. The estimated cost of the project is $70 million.

There will be 352 apartments, including studios, one and two bedroom units. Community spaces will include a courtyard garden, entertainment suite and a roof-top deck. Parking will be provided underground for 340 vehicles.

The project will border the 7.6 acre Othello Park and Playground. It will target LEED silver and incorporate Built Green and Built Smart standards.

USAA Real Estate Co. from San Antonio, Texas is providing equity for the Station at Othello Park.

Exxel Pacific is a commercial general contractor that does mixed-use and multi-family housing projects throughout the Pacific Northwest.