Seattle Development Firm One Trent Completes Three New Mid-Rise Multifamily Projects Across the Puget Sound Totaling 645K+ SF

Seattle, Wash. – February 26, 2024 – Seattle-based real estate development firm One Trent (https://onetrent.com) today announced that it has completed three new multifamily residential projects across the Puget Sound region in the Seattle, Tacoma and Bellingham markets.

Leasing has now begun at the seven-story, 206-unit Hilite Apartments in Seattle’s Judkins Park neighborhood; the 368-unit, eight-story Rook Apartments in downtown Tacoma; and the five-story, 196-unit Kerf Apartments in Bellingham’s Sehome neighborhood. Kerf on Friday received its occupancy certificate, making it the firm’s third project to be delivered in 2024. Two more projects, in Lynnwood and SeaTac, are slated to open later this year.

“At One Trent, we’re committed to delivering high quality residential projects that benefit communities—and it’s gratifying to see our hard work across the Puget Sound come to fruition,” said One Trent Principal Patrick Ashman.

The firm also recently launched a new multifamily investment fund (One Trent Opportunity Fund 23) focused on distressed acquisition opportunities in the greater Puget Sound real estate market. With a goal of raising $50 million to purchase multifamily assets below replacement cost, the firm will deploy capital over the next 36 months to acquire up to ten assets including existing properties with strong in-place returns, value-added repositions, and land with strong upside potential.

The Hilite Apartments: Extraordinary Spaces for Everyday Life

Located in Seattle at 622 Rainier Avenue S, the Hilite Apartments (www.hiliteapartments.com) features 77 small efficiency dwelling units (SEDUs), 65 open one-bedroom units, 40 one-bedroom units, 16 two-bedroom units, three lofts and five live/work units. 

With market rate rentals ranging from $1,025 to $3,850—and 41 below-market rate rentals starting at $959—units include matte black hardware and fixtures, stainless steel appliances and quartz countertops. The building also includes 87 parking spaces.

Amenities at the Hilite include views of Mt. Rainier from a rooftop deck, BBQ stations, a fire pit, lounge with indoor/outdoor fireplace, co-working spaces, a podcasting room, lobby amphitheater with projector screen, a ‘makers lounge’ with artisan tools, games and party provisions for rent by Brevvie and a pet spa.

Formerly home to a cosmetics factory and then a print shop—both of which served as inspiration for the branding and marketing—Hilite is located within walking distance of Seattle’s Streetcar and future Judkins Park Link Light Rail Station. It also features exterior artwork from local artist Barry Johnson. “At Hilite, we envisioned a project that would be appealing and affordable to a diverse demographic while fostering connections and cultural exchange within the community—which is symbolized by the yellow ‘bridge’ elements connecting the 3 towers,” said One Trent Director of Design Marshall Ling.

The Rook Apartments: The Local Social Spot

Located at 1502 Fawcett Avenue just a short walk from Tacoma’s T Line Link Light Rail, the Greater Tacoma Convention Center, the University of Washington Tacoma, and Tacoma’s theater and brewery districts, the eight-story Rook Apartments (www.RookApartments.com) features 10 townhomes, 55 two-bedroom units, 120 one-bedroom units, 143 open-one bedroom units and 39 studio units.

Residences at the Rook Apartments include matte black hardware and fixtures, stainless steel appliances, quartz countertops, and air conditioning in townhomes. Rental rates range from $1,325 to $3,750 per month, with 74 below-market units available, and the building also includes 268 parking spaces. Amenities at the Rook Apartments include views of Commencement Bay and Mt. Rainier from two rooftop terraces, lounges with BBQ stations and fire pits, a Full Swing multisport game simulator, a fireside lounge, coworking spaces, a fitness room and a pet spa. The building also includes dedicated, reserved EV charging stalls.

The Kerf Apartments: Where Convenience & Comfort Combine

The Kerf Apartments (www.kerfbellingham.com) features six townhomes, 23 two-bedroom units, 36 one bedroom units, 76 open one-bedroom units and 52 studio units located in Bellingham just a 15-minute walk from Western Washington University’s campus at 208 N Samish Way.

With rental rates ranging from $1,500 to $3,200, units include matte black hardware and fixtures, stainless steel appliances, quartz countertops and air conditioning in townhomes, with 150 parking spaces for residents. The building also includes dedicated, reserved EV charging stalls.

Using state-of-the-art engineered wood for most of its podium structure, the eco-friendly mass timber building reduces the building’s carbon footprint by replacing more carbon intensive material such as concrete.

“Our vision at Kerf Apartments was to demonstrate how mass timber could be used in a typical multifamily project—showcasing leading-edge sustainable building practices while also promoting the natural beauty of the Pacific Northwest,” said One Trent Principal Trent Mummery.

Amenities at the Kerf Apartments include views of Mt. Baker from a rooftop terrace with BBQ stations and a fire pit, a Full Swing multisport game simulator, a fireside lounge and coworking stations, a fitness room and a pet spa.

Experienced Local Project Team One Trent served as developer for all projects. Hilite project team members included Studio19 (Architect), Jason Dallas Design (Interior Designer), WG Clark (General Contractor), Hatteras Sky and Cresset Partners (Equity). Rook project team members included Studio19 (Architect), Jason Dallas Design (Interior Designer), Rush Commercial Construction (General Contractor) and Bridge Investment Group (Equity). Kerf Apartments team members included Clark Barnes (Architect and Interior Designer), Dawson (General Contractor), and Decennial Group (Equity).