American Capital Group Adds to Seattle Portfolio with New Multifamily Development

SHORELINE, Wash.--(BUSINESS WIRE)--American Capital Group (“ACG”), a full-service real estate investment and development company, today announced the development of Kinect @ Shoreline, a 240-unit multifamily project in Shoreline, Wash., a Seattle suburb. Construction of the community is underway and is expected to be completed by Q4 2024.

Located at 18553 8^th Ave. NE, Kinect @ Shoreline will consist of one mid-rise apartment building with six stories of residential housing over 2,000 square feet of retail space and structured parking, with 20% of units in the community designated as affordable housing. Situated along Interstate 5, the community is proximate to key transportation options in the area, easily connecting residents to the nearby employment centers of Seattle, Bellevue, Kirkland and Redmond. The development site is adjacent to Sound Transit’s future 185^th Street Light Rail Station, slated to open in 2024, timed with the community’s lease-up.

“Kinect @ Shoreline will offer residents the benefits of a suburban lifestyle, without compromising access to the city given its proximity to convenient transportation,” said BJ Kuula, President, ACG. “As more high paying jobs come to the greater Seattle area, we look forward to leveraging our local market expertise to provide attractive housing to the area’s growing population.”

The Seattle MSA is ranked as one of the fastest growing cities in the United States, driven in part by its resilient employment market. Jobs in the area increased by 5.8% in the past year, fueled by STEM and technology companies such as Amazon, Boeing and Microsoft driving employment gains in the region.

Kinect @ Shoreline will feature an attractive amenity set for residents, including high-end finishes, multiple club and game rooms, a large state of the art fitness center, golf simulator, yoga studio, theater and private co-working spaces. Residents will have the ability to entertain in two courtyards that will include barbeque areas, firepits and ample space to enjoy the outdoors.

Based in Bellevue, ACG is an active multifamily investor and developer throughout the West Coast. The company has developed more than 6,000,000 square feet of multifamily space, including Kinect @ Lynnwood, which opened in January 2022 and recently completed lease-up, as well as Kinect @ Burien and Kinect @ Totem Lake, slated for completion in 2023 and 2025, respectively. Most recently, ACG announced the development of Kinect @ Southport, a multifamily community in Sacramento, Calif., expected to be completed in 2025.

About American Capital Group

Founded in 1986, ACG is an experienced, vertically integrated real estate company that designs, develops, builds, acquires and manages multifamily properties. With a focus on suburban multifamily opportunities in the Western U.S., ACG has developed and acquired more than 80 properties totaling over 16,000 units across 10 states. ACG’s current portfolio consists of approximately $2 billion in assets under management.

For more information visit: www.acg.com.