Honoring Excellence: NAIOPWA’s Night of the Stars 2020 

Honorees showcase the best regional commercial real estate development in 2020 with an emphasis on creative multifamily mixed-use, sustainability and last-mile delivery 

SEATTLE – At today’s first-ever virtual NAIOPWA Night of the Stars, the commercial real estate community honored the year’s most innovative, creative and inspiring CRE projects in Washington state. Completed between July 1, 2019, and August 1, 2020, these projects particularly demonstrate the flexibility and strength of the local CRE industry in the face of a global pandemic. 

The 2020 winners and finalists reflect major shifts in our region toward affordable, multifamily housing that creatively supports communities, as well as the rapid increase in industrial real estate supporting last-mile delivery. This year, as always, judges used a rubric to evaluate and score projects according to defined criteria and made category adjustments reflecting the unique nature of projects, such as dividing industrial projects into those built on spec and those built to suit. This year, too, the full immersion of sustainable practices in the region’s development projects lead to multiple honorees in different market categories. 

NAIOPWA's Night of the Stars identifies outstanding real estate developments and activities in a variety of market types and the individuals who made the projects happen. The awards aim to honor the teams who build our landscape in this annual celebration of the industry. Each finalist project was evaluated for impact on the community, market adaptability, ingenuity and local contributions. 

What does it mean to go first? In celebration of NAIOPWA’s Night of the Stars inaugural “Sustainable Development of the Year” category, here is a closer look at the two nominees, each of whom elected to be on the front edge of sustainable real estate development. Read below to learn more about these two industry-leading endeavors.

What is the first thing many developers or investors think when they hear the words “sustainable” or “green” as their architects describe their building design? For decades the common perception has been that it is difficult (if not impossible) to make a deeply green building pencil financially. However, by definition “sustainability” is the nexus of environmental, social and economic progress. We interviewed key participants representing both Watershed and Inspire at the Russell W. Young Building to learn how they overcame perception to create these very special properties.

The October 2017 breakfast focused on the development of Fremont, one of Seattle's up-and-coming commercial hubs, and the great strides already made in the sustainability of this neighborhood.

President Kristin Jensen opened the meeting by thanking our sponsors, Rushing, Baylis Architects, Venture GC, and Vulcan Real Estate. Kristin reported that we currently have 924 members and are the fourth-largest NAIOP chapter. Kristin also reported that the Community Enhancement Project at Farmer Frog was a success. Good work everyone!