American Capital Group Washington has added another multi-family project to its list of ongoing housing projects. The company began work on Kinect@Shoreline earlier this month and expects the 240-unit community to be complete by the fourth quarter of 2024. ACG handles the entire project internally, and the American Home Building and Design divisions tasked ACG with the design and construction community.
Kinect @ Shoreline units will be spread throughout a six-story apartment building, with 20 percent of units to be designated as affordable. American Capital Group said Multiple housing news Ten percent of studio and one-bedroom units will be allocated to renters who make up 70 percent of the median income in the area, while the other 10 percent of two- and three-bedroom units will be for households that make up 80 percent. from AMI.
American Capital Group plans to build the units with high-end finishes, while the community will provide a fitness center, golf simulator, yoga studio, theatre, co-working spaces, game and club rooms, and two courtyards. The complex is also expected to contain 2,000 square feet of structured parking and shops.
It is located at 18553 Eighth Ave. NE, Kinect @ Shoreline will be adjacent to Interstate 5 and will be adjacent to the future Sound Transit Light Rail station. The 185th Street station is expected to open in 2024, which will go along with the community leasing process.
“The Kinect@Shoreline development aligns with ACG’s strategy to develop high-quality condominium communities in trans suburban locations with strong multi-family fundamentals, including population growth and jobs, that provide connectivity to nearby urban centers,” BJ Kuula, President of ACG, told M.H.N.
More American Western Projects
Headquartered in Bellevue, Washington, American Capital Group focuses on multifamily opportunities in the western United States, and the company has developed more than 6 million square feet of multifamily space, including the recently completed Kinect@Lynwood, a venture consisting of 239 units in Lynwood, Wash.
Along with Kinect@Shoreline, the company is currently working on 230 Kinect@Burien units which is expected to be completed in 2023. Subsequently, the company has 322 Kinect@Southport units in West Sacramento, California. Work began earlier this month and is expected to be completed in 2024. A year later, the company hopes to complete 484 Kinect @ Totem Lake units in Kirkland, Washington.