American Capital Group proudly announces the groundbreaking of The Foundry, a new multifamily apartment community located in the heart of Totem Lake, Kirkland. This milestone marks a major achievement in the company’s ongoing mission to develop high-quality housing that meets the evolving needs of residents.

The ceremony, held on September 17, brought together executives from American Capital Group, American Home Builders, ACG Financial, ACG Development, and local city officials to celebrate the start of construction on the 453-unit development. Of these, 20% will be designated as affordable housing, reinforcing ACG’s commitment to inclusive growth.

“This has been a 3-and-a-half-year labor of love,” said Benjamin Kuula, CEO of American Capital Group. “We purchased this project back at the end of 2021, beginning of 2022, and spent the last few years securing entitlements and raising capital. We’re thrilled to begin construction and bring this vision to life.”

The Foundry is expected to be completed in early 2027, and will feature a wide array of upscale amenities designed to enhance the resident experience. As ACG continues to expand its portfolio, each new project raises the bar for quality, innovation, and community impact.