The new 476-unit Canopy Apartment project in Shoreline is harvesting rents “well north of the $3 a square foot,” says Willis Chin, vice president of development at Shea Properties.
“The lease-up is going fantastic,” he said on June 11, when the project was nearly 60% leased nine months after it opened at 18815 Aurora Ave. N.
Shea’s goal is to have a stabilized property by the end of the year. “If we continue on our trajectory, we should be fully stabilized, fully occupied before then,” said Chin, who added Shea is offering up to two months’ free rent depending on unit type and lease terms.