Farmstead is the latest mixed-use development in Woodinville to break ground.
Situated on Northeast 145th Street, along the Sammamish River, this up-and-coming community will offer a collection of wine-tasting venues and dining options. Farmstead will also feature abundant retail space, a boutique hotel and spa, luxury condominiums and more, according to its website.
"For me, Farmstead is personally significant,” said Andrea Lachmann, director of CBRE Property Management. “I live in Woodinville and have waited for some time for something to finally happen with this land. I am personally vested in helping my neighbors’ businesses thrive and want the project to be the best in class but also the perfect fit for Woodinville."
At the base level of the development, The Yard will emulate a typical town square. The only difference is this public area looks more like a triangle with six buildings surrounding the center area.
Options for food will range from quick cafés to fine dining establishments, with options for outdoor seating at both. Situated within walking distance of Chateau Ste. Michelle winery, the Farmstead development would not be complete without a selection of wine bars and tasting rooms.
“For nearly a decade, we have watched Woodinville come of age in sync with the glorious wine industry now thriving in the state,” said Jim Tosti, owner of the Farmstead development. “There simply isn’t enough room to accommodate the vintners and their guests here.”
With wine as such a central feature in Woodinville, local Chamber of Commerce representatives report that wine tasting room retail space is entirely occupied. However, according to Woodinville Visitors Center, the city could support up to 150 additional establishments.
There is ample retail space for lease, according to the master plan. Additionally, parking will likely not be an issue with a plethora of underground spaces. Residents and people from outside of town can utilize the bike trail access point to easily visit shops and eateries in Farmstead without a car.
For out-of-town guests, a new luxury hotel is currently in development. The four-story building will provide 165 hotel rooms and a 3500-square-foot spa. Outside will feature a 15,000-square-foot event area for music performances, outdoor markets and festivities of all kinds.
The hotel will also include large conference rooms for team-building getaways and off-site meetings as well as a 4000-square-foot restaurant and complete bar with private dining options. Weddings and receptions can be held in the hotel’s main ballroom, which opens directly into a spacious patio.
The Village, with over 400 apartments and residences, offers a unique living space for all types of people. According to the master plan, these rental apartments and whole-ownership condominiums will “combine the best of urban energy with the splendors of country living.”
“Farmstead is the realization of our personal and professional passions – wine and real estate,” Tosti said. “Farmstead is the perfect pairing of each.”
Marketing statistical company Esri Demographics project that Farmstead will primarily attract four groups of people, which they’ve named “metro renters,” “urban chic,” “enterprising professionals” and “savvy suburbanites.”
Metro renters, otherwise known as city dwellers in their late 20s and 30s, typically live alone or with a roommate. Urban chic, which describes financially stable and sophisticated consumers, encompasses about 70% of well-educated married couples and about 30% singles. Enterprising professionals are young, well-educated professionals in STEM (science, technology, engineering, math) occupations. Finally, savvy suburbanites represent empty nesters, and those with adult children at home, who have the means to pursue good food, wine and culture.
Based on research conducted by Meyers Research – which included site visits, retail market trends, supply-demand factors and conversations with local commercial brokers – the Farmstead site represents a very favorable location for a variety of retail uses.
According to this data, the mixed-use site offers access and visibility in a central location within Woodinville Wine Country. Trends also indicate that surface streets near the development in Woodinville have 8,600 to 19,000 vehicles per day.
The analysis by Meyers Research indicates a demand for nearly 200,000 square feet of retail space at Farmstead over the next five years. Additionally, statistics show an unmet demand in several retail categories including day spas, luxury goods, clothing boutiques and specialty food stores. Research also projects about 28,000 square feet of supportable office use over the next five years.
“We recognized that this site, at the heart of the community, was an unparalleled opportunity for a program that would be centered around wine, but be much more – dining, shopping, a hotel, and of course residences,” Tosti said. “An inviting community and lifestyle conceived around all the things so previous to us all.”