The Emerald Overview
Located in the heart of downtown Seattle, the Emerald’s design embodies the dynamism of urban life and the tranquility of home. The luxury apartment tower will offer roof-level amenities and terraces with unparalleled views of Puget Sound and the Olympic Mountain range. The Emerald project is situated on the edge of Seattle’s central business district and the Denny Regrade/Belltown neighborhoods, providing exceptional access to the financial district, the city’s waterfront and the retail core.
Seattle is an active and diverse metropolitan area with awe-inspiring natural beauty and a bustling city center, which includes numerous cultural institutions, state-of-the-art NFL and MLB sports facilities, and world-class shopping and dining. The city is a magnet for those who enjoy outdoor recreation, such as kayaking, biking, skiing, and running. Costco, Microsoft, Amazon, Starbucks, Google, Facebook, Expedia, and Salesforce all have headquarters or significant physical presences in the Seattle metro area, making it the ultimate professional hub.
The Emerald broke ground on the project in September 2017 and the 40-story complex is expected to be finished in 2020.
Quick Project Facts
The Emerald, located at 1613 2nd Avenue, Seattle, WA, is a fully entitled, 265-unit, 40-story residential tower with 4,530 square feet of ground-floor retail and 64 below-ground parking spaces. Built on 0.2 acres of prime real estate, it is one of only three downtown condominium projects, placing upward pressure on pricing for available units.
The Hewitt-designed LEED Silver property will feature a shifted geometric pattern, which will stand out in the Seattle skyline. The project is directly north of Seattle’s historic Pike Place Market, one of the oldest continuously-operated public farmers markets in the United States. The Market, as it’s commonly known, has been a beloved Seattle landmark since 1907 and is home to an incredible array of shops, pop-up vendors, restaurants, bars and coffee houses, including the very first Starbucks coffee shop.
Seattle’s efficient transportation network provides access to the balance of the city – and the region – through an intricate mass transit system encompassing a light rail, streetcars, buses and bike lanes. The city also boasts a 99 walkability score out of 100.
265 one to three-bedroom residential units
64 stalls, 5 levels below grade
The Emerald project is possible thanks to the partnership between Golden Gate Global and a joint venture called Daniels Create World (DCW). DCW is led by famed local Seattle firm Daniels Real Estate in partnership with Create World America and Zhongji Holdings Group.
Golden Gate Global is a leading EB-5 Immigrant Investment Regional Center based in San Francisco. We are licensed by United States Citizenship and Immigration Services to help facilitate EB-5 immigrant investment into high-economic-impact projects in the United States. Having served over 1,200 EB-5 families (from more than 25 countries) to date, we are a trusted EB-5 partner with a proven track record of experience for our investor clients.
By offering a unique institutional-grade platform, clients benefit from our rigorous due diligence process, strict controls in fund administration, and the breadth of tailored services we offer for our client families. Golden Gate Global has raised over $600 million in EB-5 funds to date. The Emerald is the company’s eleventh EB-5 fund.
Daniels Real Estate is best known for the quality and success of its development projects. Their senior management team redeveloped iconic Seattle buildings such as The Sanctuary, Gridiron Condominiums, Starbucks Center, Union Station, Frye Art Museum, Merrill Place, and currently St. Edward Seminary in Kenmore. The Daniels Real Estate team has a depth of experience unparalleled in the Pacific Northwest with three National Preservation Awards, as well as many local and state awards for their work in historic preservation and reuse.
Lead by a senior development team with decades of experience, the company’s mission continues to focus on complex and challenging dense urban commercial real estate projects that make significant improvements for the communities in which they are located, while generating exceptional returns on those investments.
EB-5 Fund Offering
Financing Type: EB-5 Preferred Equity
EB-5 Investment Amount: $500,000
Total Project Cost: $218M
Total EB-5 Fund Size: $30M (14% of capital stack)
Total EB-5 Job Creation: 1,525 (88% job cushion)
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