On the Block: Mercer Island single-family homebuilder launches multifamily division: SeaLevel

Seattle Daily Journal of Commerce

When the Port of Everett recently announced the first phase of its 65-acre, $373 million Waterfront Place Central project, the developer of two planned four-story apartment buildings was identified as American Classic Homes.

American Classic Homes is a family-owned Mercer Island company, run by partners Michael Gladstein, Robert Gladstein and Joel Mezistrano, and now it has launched a new multifamily brand for the Everett project and others: SeaLevel Properties.

Along with the new name, SeaLevel has two relatively new executives: John Shaw and Kyle Weeks, who joined ACH in 2015 and 2016, respectively. ACH was then primarily known for building single-family suburban homes in Auburn, Bellevue, Bothell, Issaquah, Kirkland and Newcastle.

Established in 1999, ACH weathered the recession doing residential remodels, then began toeing the waters of multifamily in 2013. Avaya Trails, a 162-unit complex at 10930 S.E. 172nd St. in Renton, was its first completed project.

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