Our Rental Portfolio

Blueprint is Seattle’s largest buyer of land suitable for single family homes, townhomes and apartments. We have decades of local experience and a hard-earned reputation as Seattle’s leading developer of small-scale, residential projects. That’s why more than 150 real estate professionals call Blueprint if their clients have land suitable for development. We will work with you as a trusted, experienced buyer, treating you and your client’s property with respect.
In addition to lending, Blueprint also develops income-producing rental property for its portfolio in Seattle and Phoenix. Developing residential assets for our portfolio produces attractive cash flow and creates stockholder value.
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Completed Units

1,542

Units Under Development / In Our Pipeline

2,066

Total Units

Why Rental Real Estate?

Key Benefits
  • Diversify REIT income stream
  • Add value through capital appreciation
  • Build rental infrastructure to support loan REOs
Key Trends
  • Housing demand due to population and job growth
  • Millennials need housing and often want smaller, affordable units with high-quality finishes
  • Land use policy present new opportunities from zoning changes
Key Characteristics
  • Urban in-fill: Close to transit, shopping, and entertainment
  • Affordable: Targeting 60-80% of area median income
  • Multifamily Tax Exemption (MFTE) eligible
  • High-quality finishes and common spaces
  • No complex/high-cost construction

Seattle Developments

Seattle is our home town and where we introduced our unique model for lending and development. Nearly all of our lending activities are focused in the greater Seattle area where we have provided over $2 billion of financing to construct thousands of for sale units since our founding.

Since our first apartment development in 2017, we have delivered more than 500 units with a development pipeline of nearly 400 units coming up.  Our high-quality studio apartments are close to transit, shopping, and entertainment and generally have fewer than 100 units.  With rent levels targeted to tenants making 60-80% of the area median income, a common definition of affordable workforce housing, we are proud to be one part of the solution to housing demand in the Seattle area.

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Completed and Under Development Projects
Basalt
4401 42nd Ave SW Seattle, WA
West Seattle
77
Units |
Expected Completion: Summer 2023
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Carrick
1140 NW Market St. Seattle, WA
Ballard
86
Units |
Expected Completion: Spring 2024
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Chronicle
4417 Wallingford Avenue N Seattle, WA
Wallingford
78
Units |
Expected Completion: Summer 2024
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Reed
4007 Stone Way N Seattle, WA
Fremont
125
Units |
Expected Completion: Winter 2024
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Dockside
6860 East Green Lake Way N Seattle, WA 98115
Green Lake
98
Units |
Completed in 2022
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Alloy
800 5th Ave. N Seattle, WA
Queen Anne
68
Units |
Completed in 2020
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Track 66
838 NE 66th St, Seattle, WA 98115
Roosevelt
75
Units |
Completed in 2019
https://track66seattle.com/
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Val Anne
800 Queen Anne Ave. N
Queen Anne
49
Units |
Completed in 2019
Abodo.com/val-anne
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Yale
2037 Yale Ave E
Eastlake
27
Units |
Completed in 2018
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Luna
6921 Roosevelt Way NE
Roosevelt
71
Units |
Completed in 2018
https://lunaapts.com/
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Vega
4528 44th Ave. SW
West Seattle
58
Units |
Completed in 2017
Vegaapts.com
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Phoenix Developments

Phoenix continues to be one of the strongest housing markets in the country with job growth and population inflows creating demand that far outpaces supply. With a growing team on the ground, including two of our founding principals, Blueprint quickly has become a significant presence in the Phoenix market with nearly 1,200 multi-family units under construction or in the pipeline.

The Phoenix market’s unique characteristics inform our development activities with a focus on build-to-rent communities as well as urban, multi-family apartments. Our build-to-rent communities generally have 200 to 300 units and combine the convenience of renting and the perks of a single-family home with resort-style amenities . Our multi-family buildings showcase the design and quality Blueprint is known for with locations close to transit, restaurants and other retail amenities.

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Under Development and Pipeline Projects
Alloy Midtown
3010 N 2nd St.
Phoenix, AZ
171
Units |
Expected Completion Q3 2023
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White Tanks
23260 N Sundance Parkway W.
Buckeye, AZ
216
Units |
Expected Completion Q4 2023
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Cottonwood
E Cottonwood Ln. and N Peart Rd.
Casa Grande, AZ
331
Units |
Expected Completion Q2 2024
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Sonoran Desert
Sonoran Desert Dr.
Phoenix, AZ
259
Units |
Pipeline
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