Parkstone Properties & Guerdon Modular Buildings

Parkstone Properties, a Seattle-based real estate development firm, and Guerdon Modular Buildings, a leading manufacturer of large-scale, complex modular construction projects, are set to begin the vertical construction process of the newest CubixTM micro-apartment project, Cubix – North Park, in North Seattle. The craning in of modules for the four-story building will begin in July and is an important milestone in the strategy of bringing affordable housing online rapidly. The project is anticipated to open in December 2017.

Located at 1008 N. 109th St., Cubix – North Park addresses an important need in the Seattle market – affordable housing. Rents in Seattle have increased by 5.2 percent since June 2016 compared to a national average of 2.6 percent, according to a recent study by ApartmentList.com. Cubix’s micro-studio rents will start around $825/month, including all utilities and wireless internet. Tenants will be minutes from Northgate, Fremont, Ballard and downtown Seattle.

“Tenants who want affordable living without sacrificing quality and access to urban amenities – like proximity to transit, work and restaurants – are faced with a distinct void in the Seattle marketplace,” said Daniel Stoner, owner and president of Parkstone Properties. “Few developers are actively filling that void, and we’re excited to bring these units to market faster than traditional stick-frame construction.”

“Our biggest challenge to providing affordable housing is controlling construction costs,” added Stoner. “In Seattle’s development climate, construction costs are increasing every month. Modular construction allows us to fix a large portion of our costs early in the process and deliver a desperately needed affordable product to the market.”

Cubix – North Park boasts 101 micro-studios ranging from 225 to 300 square feet and seven live-work units. It will include 3,800 square feet of retail, including a coffee house on the ground floor, a rooftop deck with amenities, storage and a bike storage/repair room. The complex has also achieved Built Green 4-star certification and will have solar panels on the roof. The first floor, including the live-work units, is currently being constructed onsite while the top three floors of micro-apartment modules were completed in Guerdon’s Boise factory the week of June 12. The modules are currently being transported to Seattle via flatbed trucks. and will be installed using a crane, module-by-module over a two-week period starting the week of July 24.

“Our modular construction technology is a perfect fit for this type of project,” said Randy Duggan, business development manager at Guerdon. “Building the modules off-site will shorten the construction timeline, improve the quality and allow the developer to begin leasing sooner than if built using traditional construction methods.”

Modular technology is a growing segment of the construction industry. The technology reduces build time and site-built construction risks while delivering significant improvements in quality and cost-effectiveness when compared to traditional construction. Guerdon builds sections of the buildings – called modules – in its factory in Boise, and delivers them throughout the western US and Canada.

“When I visited Guerdon’s factory, I was fascinated with its process – the efficiency, the quality control, and the speed to market,” said Stoner. “Observing how modules were built to exact specifications reminded me of the precision of an automotive factory, so we were more than enthusiastic to partner with Guerdon on Cubix.”

The project team also includes Jackson Main Architecture, architectural; DCI Engineers, structural; Decker Consulting Engineers, civil; InSite Group, mechanical, electrical and plumbing designer; KLLA Landscape Architects; and Evergreen Certified, Built Green consultant.

About Parkstone Properties

Parkstone has embraced multi-family development and management for more than twenty years. Parkstone specializes in innovative, environmentally friendly development techniques while filling a much-needed void for affordable housing in the Puget Sound region. Through their CubixTM brand, Parkstone pursues a build-and-hold strategy of development in up-and-coming areas where land is more affordable, yet still near amenities, rapid transit, and commercial hubs. For more information, visit www.parkstonenw.com.

About Guerdon Modular Buildings

Guerdon is the leading manufacturer of large-scale, complex modular construction projects and modular multi-family housing developments in the western United States and Canada. Guerdon’s innovative modular construction technology reduces build time and construction impacts while delivering significant improvements in quality, energy efficiency, noise reduction and cost-effectiveness when compared to on-site building methods. Guerdon’s construction experience, engineering, design expertise and manufacturing capacity is unrivaled in the industry. For more information, please visit www.guerdon.com.

 

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