Queen Anne Redevelopment

Stenen represents Skala’s approach to strategic real estate investment, where each acquisition is selected for its ability to create value across multiple stages of ownership.

 

Ideally located near Seattle Pacific University, with views over the Ship Canal and walkable access to Fremont and Queen Anne, Stenen combines an exceptional urban setting with a prominent corner lot and LR3 zoning. This covered land opportunity brings together income from an existing multifamily asset with significant long-term redevelopment potential.

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Our strategy begins with operational stabilization, targeted improvements, and interior renovations designed to strengthen rental income, enhance asset performance, and build equity over time. Through disciplined underwriting, active management, and thoughtful capital allocation, each phase creates opportunities to unlock additional value while preserving flexibility for future development.

 

The longer-term vision is a Nordic Modern multifamily community that introduces a new approach to urban living and ownership. Thoughtfully designed homes, adaptable floorplans, and diverse ownership opportunities will allow Stenen to serve evolving housing needs while contributing to the character, vitality, and economic resilience of its neighborhood.

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Interested in participating? We welcome conversations with investors who share our vision. Reach out to explore investment opportunities and become part of Stenen’s next evolution.