The M in U District: luxury student housing with doorman, B-ball court

Image from Fields Holdings [enlarge]





Quantum Capital Partners of Beverly Hills said that it has secured a $64 million construction loan for The M, the 24-story, 230-unit residential tower being planned by Fields Holdings at 4700 Brooklyn Ave. N.E.

The M will be the first high rise developed in the U District in 30 years.

A master use permit was issued in September. Site work and environmental cleanup have begun, and completion is expected by the fall of 2020. A gas station once operated on the corner site.

NBBJ designed the tower, and UEB Builders of Seattle will build it.

(Editor's note: A previous version of this article listed the wrong general contractor.)

Fields calls The M luxury student housing, with amenities that will include a doorman as well as study rooms, a recreational lounge, fitness center, theater, indoor basketball court, roof deck and bicycle parking.

Eran Fields is with the Los Angeles-based firm, and said, “The M will offer UW students a product unlike any other in the area. We are excited to break ground and start our construction.”

Quantum's Jonathan Hakakha cited Fields' recent success with LIV Seattle, the 56-unit, 200-bed student housing complex on the same block. “We generated very strong interest from the lending community, and were able to deliver terms and conditions superior to a traditional construction loan. The developer ultimately selected a five-year, non-recourse loan provided by CapitalSource.”



