$88M construction financing secured for premier 360-unit transit-oriented development in shoreline

SEATTLE, March 25, 2026 – JLL Capital Markets announced today that it helped facilitate the financing of Leeway, a 360-unit multifamily development project in Shoreline, Washington.

JLL supported the borrower, Evergreen Point Group, in securing a construction loan with a regional bank.

Leeway, located at 142 NE 147th St., is strategically positioned as a Transit Oriented Development just across Interstate 5 from the Shoreline South Light Rail Station. The city is building a pedestrian bridge giving tenants direct access to the light rail station. Shoreline sits just nine miles from downtown Seattle, representing a 15-minute drive along I-5.

The Seattle metropolitan area continues to demonstrate strong fundamentals with robust population growth, a highly educated workforce and significant technology sector expansion. Shoreline specifically benefits from its proximity to light rail infrastructure and designation as one of Seattle's fastest-growing submarkets.

Leeway is designed as a seven-story mid-rise building with 360 residential units and approximately 3,371 square feet of ground-floor retail space. The project features two stories of subterranean parking with 224 spaces and includes 49 electric vehicle charging stations. The community will offer premium retail space and Class-A amenities including a fitness center, rooftop lounge and deck, co-working spaces, pet spa and secure parking. About 50% of the units will have A/C and the remaining units will have A/C ports. The development will be built to LEED Platinum certification standards.

The property will participate in Shoreline's 12-year Multifamily Tax Exemption program, with 20 percent of units restricted to affordable housing at 70-80 percent of Area Median Income limits. The program includes a 12-year extension option.

JLL Capital Market’s Debt Advisory team was led by Director Steve Petrie, Senior Director Seth Heikkila, Senior Managing Director Tom Wilson and Associate Jake Davidson.

"The successful arrangement of construction financing for Leeway highlights the continued strength of the Seattle-area multifamily market and the growing appeal of transit-oriented developments," said Petrie. "This project's strategic location near light rail infrastructure and its mix of market-rate and affordable housing make it an attractive investment opportunity."

Evergreen Point Group, a local development firm, has successfully completed four multifamily projects totalling over 600 units. The company recently delivered The LINE, a LEED Platinum-certified, 241-unit building, which was named a 2025 NAIOP Award Finalist for Podium-Style Multifamily Development of the Year. Like The LINE, Leeway is designed by Tiscareno Architects and will be constructed by Exxel Pacific, with groundbreaking slated for the second quarter of 2026 and completion anticipated in the third quarter of 2028.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The group’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients, including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity & fund placement, net lease, derivative advisory and energy & infrastructure advisory. JLL Capital Markets has more than 3,000 specialists worldwide with offices in nearly 50 countries.

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JLL (NYSE:JLL) is a leading global commercial real estate services and investment management company with annual revenue of $26.1 billion, operations in over 80 countries and a global workforce of more than 113,000 as of December 31, 2025. For over 200 years, clients have trusted JLL, a Fortune 500® company, to help them confidently buy, build, occupy, manage and invest across a variety of industries and property types, including office, industrial, hotel, multi-family, retail and data center properties. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY. Powered by rich global datasets and leading technology capabilities, we provide coordinated, end-to-end delivery of real estate services for a broad range of global clients who represent a wide variety of industries. Through LaSalle Investment Management, we invest for clients on a global basis in both private assets and publicly traded real estate securities. For further information, visit jll.com.