Columbia Pacific Advisors Bridge Lending has closed on a $92 million loan to facilitate the construction of the retail/commercial phase of Harvest, a mixed-use project in the Hollywood District of Woodinville, Washington. Columbia Pacific Advisors has committed over $200 million to the Hollywood District development.
Upon its end of 2024 completion, Harvest’s mixed-use offering will be comprised of at least 70 townhomes and condominium flats and over 200 high-end rental apartments; The Somm Hotel and Spa, a Marriott Autograph Collection 4-star boutique hotel featuring 165 guest rooms and a luxury spa; and an expansive central retail hub.
Inspired by the 130+ wine tasting rooms in the Woodinville Valley, Harvest is fully entitled for the ground-up construction of nearly 100,000 square feet (sqft) of retail space and over 26,000 sqft of storage. The project will also feature a multi-level subterranean 650-stall parking garage. With nearly 60% of the space pre-leased, the project will include a hybrid workspace solutions, a mix of local wineries, and two restaurant concepts, Ethan Stowell’s How to Cook a Wolf and Bombo Pizza. Also being considered for the space is a marketplace, florist, coffee shops, and kitchen retailers.
Will Nelson, Director of Real Estate Lending at Columbia Pacific Advisorssaid, “We have monitored this project for the past 20 years, and the opportunity to participate over the last 5 has been a blessing. Woodinville is a special place, uniquely representing the thriving Washington Wine Industry. The Harvest Project is a welcomed addition that will allow the community to Live, Shop, & Stay in the heart of Western Washington’s Wine Culture.”
This newest infusion of capital is the second delivered to this site and the fourth loan provided by Columbia Pacific Advisors to support the development of the Hollywood District. In 2018, Columbia Pacific Advisors provided a $14 million acquisition loan for this property. Of the existing loans, Columbia Pacific Advisors most recently provided an additional tranche of capital in 2021 to support construction of 31 townhomes in the Woodinville Wine Village, the first residential project in the immediate market. The townhomes, called River Run at Harvest, will consist of three- and four-bedroom offerings that range from 1,950 to 2,985 sqft of livable space plus garages.
Optimally located about 17 miles northeast of downtown Seattle, the Hollywood District of Woodinville Wine Country is home to over 90 rated wines, destination restaurants, and a gold-rated Condé Nast resort lodge. The site and its surrounding offerings are packed with outdoor activities including immediate access to riverside bike paths and hiking trails.
