Campus Crest, a developer of student housing, has decided to reposition itself strategically by "simplify[ing its] business model by discontinuing all construction and development."  They have also axed their CEO, Ted Rollins. That means the Campus View apartment project for 500+ residents on Lincoln St. just south of Fred Meyer, spearheaded by local real estate developer Derek Stebner, may be in trouble.  In an email exchange with Campus Crest's vice president for development, I learned that the project is "under review" and that more information may be forthcoming in a few weeks.  Perhaps not coincidentally, Jamie Flynn, Campus Crest's director of real estate in Seattle,  informed me in a phone call that she is no longer with Campus Crest.  Ms Flynn was part of the briefing team that presented the project to the Puget neighborhood at Carl Crozier Elementary School last November.

Note: I wrote about this development in an article on several student housing projects in the Puget Neighborhood in November of 2013.  See:  Puget Neighborood Likely Home for 1,300 Students.

In the Type II application for developing this area, the applicants provided the following project description: "Design review for Phase 2 of the Lincoln Street Mixed Use Development, including 216 units in 10 separate, 3 and 4-story buildings, associated parking, and recreational facilities. Access to this phase will be from Lincoln Street across a proposed bridge over Lincoln Creek." See the site plan above. The apartment bedrooms around a common living area would be rented separately under the plans described to residents by the company's representatives about a year ago.

There are still plans for commercial development along Lincoln St. that will be built out by other developers.  The clearing for these two commercial areas, that will have driveways onto Lincoln St., continues with heavy equipment presently being employed to prepare the areas adjacent to the south end of the Fred Meyer parking lot.  There is also a smaller apartment complex planned for the southern end of the Lincoln St. area closer to the car wash on Maple St.  This development with 175 units is not connected with Campus Crest. 

More in a few weeks as the "axing" proceeds.