DOCSLIB.ORG

Greenwood-Northgate Development Site OFFERING MEMORANDUM

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Greenwood-Northgate Development Site OFFERING MEMORANDUM Greenwood-Northgate Development Site OFFERING MEMORANDUM 203 N 104th St, Seattle, WA Greenwood-Northgate Development Site Contents Executive Summary .................................. 05 Financials .................................................. 08 Property Details ....................................... 11 Location Overview .................................... 15 Comps ...................................................... 24 Exclusive listing broker Edward Krigsman ~10k 5,400 SQUARE FOOT SQUARE FOOT FLAT LOT 4-PLEX EXPANDABLE TO 8 UNITS 2021 1.2 ARRIVAL OF NORTHGATE MILES FROM LIGHTRAIL STATION NORTHGATE LIGHTRAIL 220 acres of lush forest, meadows, Northgate is one of wetlands, creeks and beach in Carkeek Park are an 8 minute walk from the development site. the fastest growing neighborhoods in Seattle. Greenwood-Northgate Development Site Executive Summary EXECUTIVE SUMMARY 6 Address 203 N 104th Street List Price $2,195,000 Price Per Unit $548,750 Price Per SF $535 Submarket Greenwood / Northgate Parcel Number 3442000021 Lot Size 9,949 SF Year Built/ Effective Yr. Built 1956/1979 Number of Buildings 1 Number of Current Units 4 Floorplans 1 & 2 bedrooms Average Unit Size 1,050 SF Zoning NC1-55(M) Current Net Rentable SF 4,100 Price Per Gross Building SF 5,400 Cap Rate (Current) 2.5% Cap Rate (Market) 3.4% Cap Rate (Potential, As 6 Units) 4.3% The Offering Parking (garage/carport/surface) 8 spaces Edward Krigsman Real Estate Group has a uniquely-sited investment/ development opportunity for your consideration. The property is located in the highly desirable north Seattle neighborhood, on a quiet street just off the beaten path - east of Holman Road, west of Greenwood Avenue N. The potential new mixed-use project could take advantage of the relatively level and square site to develop apartments, and to further activate the area with retail at the ground level, which Potential Potential Potential would contribute to the vibrant urban experience and provide Views New Amenities Tax Benefits additional eyes on the street. There is opportunity to Rooftop deck, bike Opportunity to utilize The investment value and usability of the existing four-unit property provide 240-degree-view storage, retail Multi-Family Tax Exemption could be increased by adding two to four additional basement units, corridors for upper units (MFTE) program which would increase the rentable income at a nominal cost. EXECUTIVE SUMMARY 7 Close to Everything BROADVIEW Just a 20-minute walk south from the property brings you into the heart of the vibrant Greenwood retail and dining hub. NORTHGATE Shoppers can patronize boutique shops and larger retailers like Fred Meyer, QFC, Magic Mouse Toys and Mud Bay, while diners NORTH BEACH can enjoy eclectic restaurants, cafes, and watering holes. GREENWOOD WEDGWOOD Surrounded by new multifamily, mixed-use development, the site is will benefit from its proximity to North Seattle Greenway GREENLAKE improvements, and the future Northgate BALLARD Link Light Rail Station and Pedestrian/Bike Bridge to the east. The site is located in a frequent transit node. Seattle’s strong local economy has inspired local, regional and national real estate U DISTRICT developers to find opportunities in suburban FREMONT areas and along transit lines — existing and LAKE in development — and North Seattle meets WASHINGTON this profile to a T. MAGNOLIA LAKE UNION QUEEN ANNE MADISON PARK CAPITOL HILL SOUTH 8 min 20 min 12 min LAKE UNION DRIVE TO NORTHGATE DRIVE TO DRIVE TO MALL / LIGHT RAIL DOWNTOWN SEATTLE GREEN LAKE SEATTLE ELLIOT BAY Greenwood-Northgate Development Site Financials Property Analytics Market Rent Per Unit Market Rent Per Unit & Rent Growth $2.0K $2.4K 8% Forecast Forecast $2.2K 6% $1.8K $2.0K 4% $1.6K $1.8K 2% $1.6K 0% $1.4K $1.4K -2% FINANCIALS 9 Unit Per Rent $1.2K $1.2K -4% Growth Rent Annual $1.0K -6% $1.0K Here is an overview of North Seattle’s rental market and the $800 -8% Rent Roll current rental profile of the 203 N 104th Street property. $800 $600 -10% 10 12 14 16 18 20 22 24 10 12 14 16 18 20 22 24 Property Analytics North Seattle 1-3 Star North Seattle Seattle Market Rent Growth North Seattle Effective Rent North Seattle Market Rent Seattle Market Rent Market Rent Per Unit MarketMarket Rent Rent Per Per Unit Unit & By Rent Bedroom Growth Market Asking Rent Per SF $2.0K $2.4K$2.4K 8% $2.60 Forecast ForecastForecast Forecast $2.2K 6% $2.2K $2.40 $1.8K $2.0K 4% $2.0K $2.20 $1.6K $1.8K 2% $1.8K $1.6K 0% $2.00 $1.4K $1.6K $1.4K -2% $1.80 Rent Per Unit Per Rent $1.4K $1.2K $1.2K -4% Growth Rent Annual $1.60 $1.2K $1.0K -6% $1.0K $1.40 $1.0K$800 -8% $800 $800$600 -10% $1.20 10 12 14 16 18 20 22 24 1010 12 12 14 14 16 16 18 18 20 22 20 24 22 24 10 12 14 16 18 20 22 24 North Seattle 1-3 Star North Seattle Seattle North SeattleMarket Studio Rent Growth North SeattleNorth 1 Seattle Bed EffectiveNorth Rent Seattle 2 Bed North Seattle 1-3 Star North Seattle Seattle North Seattle MarketNorth Rent Seattle 3 BedSeattle Market Rent Market Rent Per Unit By Bedroom Market Asking Rent Per SF # 3897083 10/16/2019 © 2019 CoStar Realty Information Inc. Page 3 $2.4K $2.60 Forecast Forecast UNIT # TYPE CURRENT MARKET MARKET WITH 2 NEW UNITS $2.2K $2.40 $2.0K BEDS/BATHS GROSS SF MONTHLY ANNUAL$2.20 MONTHLY ANNUALLY MONTHLY ANNUALLY 203 $1.8K2/1 1,200 $1,750 $21,000 $2,100 $25,200 $1,750 $21,000 $2.00 203 1/2 $1.6K1/1 850 $1,250 $15,000 $1,400 $16,800 $1,250 $15,000 $1.80 205 $1.4K2/1 1,200 $1,900 $22,800 $2,100 $25,200 $1,900 $22,800 $1.60 205 1/2 $1.2K1/1 850 $1,250 $15,000 $1,400 $16,800 $1,250 $15,000 $1.0K $1.40 207 (Future) 1/1 650 $1,150 $13,800 $800 $1.20 207.5 (Future) 1/1 10 12 14 650 16 18 20 22 24 10 12 14 16 18$1,150 20 22 $13,800 24 Garages (5) North Seattle Studio North Seattle 1 Bed North- Seattle 2 Bed $0 $875North Seattle 1-3 $10,500 Star North Seattle$875Seattle $10,500 North Seattle 3 Bed Utilities 300 $3,600 $300 $3,600 $300# 3897083 $3,60010/16/2019 Reimbursement © 2019 CoStar Realty Information Inc. Page 3 TOTAL 5,400 $6,150 $73,800 $7,875 $94,500 $9,625 $115,500 FINANCIALS 10 Operating Statement 203 N 104th St enjoys nearly zero historical vacancy, a function of its convenient location and well-designed, modern floorplans. Current rents can be increased to market rate with the existing layout, resulting in a MARKET capitalization rate of nearly 4%. Adding two additional CURRENT MARKET (2 NEW UNITS) units in the basement will not disrupt the current layout Gross Scheduled Income $73,800 $94,500 $115,500 due to the already-existing exterior doorways that connect directly to the space. The existing parking lot can Less Physical Vacancy (4%) $2,952 $3,780 $4,620 accomodate a 1-1 parking ratio for eight units. Gross Adjusted Income $70,848 $90,720 $110,880 Annual Expenses $16,530 $16,530 $16,530 Net Operating Income $54,318 $74,190 $94,380 Gross Rent Multiplier 30 23 19 Cap Rate 2.5% 3.4% 4.3% Rent per Rentable SF/month $1.50 $1.92 $2.34 Expenses Utilities $3,600 $3,600 $3,600 Property Taxes $11,520 $11,520 $11,520 Insurance $1,410 $1,410 $1,410 TOTAL EXPENSES $16,530 $16,530 $16,530 Greenwood-Northgate Development Site Property Details PROPERTY DETAILS 12 The Asset The existing four-unit property, built in 1956 and renovated in 1979, occupies a portion of its 9,949-sf lot; the building’s gross square HOLMAN ROAD footage is 5,400, and the current rentable area is 4,100-sf. The building is located 12 blocks north of the Greenwood-Phinney Ridge Urban Village, and is in a frequent transit node. The site is walking distance to any number of restaurants, shops, movie theater, and the future Northgate Light Rail Station, 4 UNITS complementary Pedestrian/Bike Bridge, and the North Seattle Greenway. Collectively, these amenities nurture a pedestrian- and bike- friendly environment that invites exploration, exercise, and enjoyment of the community. PARKING PARKING PROPERTY HIGHLIGHTS 4 occupied units Private exterior entries 100% OCCUPIED A ROOF DECK AMENITY Classic Mid-century architecture A solid track record of continued A roof deck may add views of the Puget occupancy makes this property a Sound, the Olympic Mountains, Downtown Washer & dryer in units stable investment scenario while any Seattle, and the Cascade Mountains. New hardwood floors throughout development considerations unfold. Updated kitchens + baths 4 carport parking stalls NCI-55 (M) ZONING VALUE-ADD POTENTIAL 1 enclosed garage This allows development to maximize 40+ market rate apartments or 60+ 3 uncovered parking spaces the buildable area on the ground, and SEDUs could likely be achieved. in the overall massing and height. Roman brick-clad wood burning fireplaces PROPERTY DETAILS 13 Exterior Interior PROPERTY DETAILS 14 Floorplans - Sample Unit #205 Tenants enjoy private porches, open and modern floorplans, few common walls and generous room sizes throughout. Greenwood-Northgate Development Site Location Overview 7 miles to Downtown Seattle Greenwood Ave N The Property A singular redevelopment opportunity for a bustling, changing neighborhood. LOCATION OVERVIEW 17 North Seattle The Submarket College Growth Potential The 203 N 104th Street property and site are minutes by foot, car or transit to the Greenwood-Phinney Ridge Urban Village, Northgate Mall, future Northgate Light Rail Station and Pedestrian/Bike Bridge (2021).
Load more

Recommended publications
  • Approval of Property Exchange & Development Agreement
    F–8 VII. STANDING COMMITTEES B. Finance, Audit and Facilities Committee Sound Transit U District Station – Approval of Property Exchange & Development Agreement RECOMMENDED ACTION It is the recommendation of the administration and the Finance, Audit and Facilities Committee that the Board of Regents: 1. Approve entering into a Property Exchange & Development Agreement with Sound Transit to exchange University property for the air rights above the U District Station for future transit oriented development, including temporary construction and tieback easements, a permanent tunnel easement under the Social Work Building, and a condominium declaration; and 2. Delegate to the President or his designee the authority to execute all documents related to this property exchange and development. BACKGROUND Purpose and Benefit Sound Transit is building a light rail station called the U District Station (part of its Northgate Link) across from the UW Tower between NE 43rd St and NE 45th St at Brooklyn Ave NE. The light rail tunnel will go under campus beginning at the UW Station, head north and west toward 15th Avenue NE, go under the University of Washington’s Social Work Building (located on the west side of 15th Avenue NE), then head north to the U District Station on Brooklyn Avenue NE. An agreement is already in place for the light rail tunnel under the main campus (to 15th Ave NE). The U District Station (“Station”) will serve as a “front door” to the upper University of Washington (“UW”) campus and there is particular interest in how it will be developed. Sound Transit policy calls for transit oriented development (“TOD”) above the Station.
    [Show full text]
  • Sound Transit 4
    1 of 19 Funding Application Competition Regional FTA Application Type Main Competition Status submitted Submitted: April 24th, 2020 4:00 PM Prepopulated with screening form? No Project Information 1. Project Title Buses for the New SR 522/NE 145th Bus Rapid Transit Service 2. Regional Transportation Plan ID 42 3. Sponsoring Agency Sound Transit 4. Cosponsors N/A 5. Does the sponsoring agency have "Certification Acceptance" status from WSDOT? N/A 6. If not, which agency will serve as your CA sponsor? N/A 7. Is your agency a designated recipient for FTA funds? Yes 8. Designated recipient concurrence Not applicable. Contact Information 1. Contact name Monica Overby 2. Contact phone 2066894979 3. Contact email [email protected] Project Description 1. Project Scope Purchase six battery electric high capacity transit buses to support Sound Transit’s new bus rapid transit (BRT) service along 8 miles of NE 145 St and SR 522 between Shoreline and Bothell, with service to Woodinville also being evaluated. (Note: these buses are separate from the I-405 BRT FHWA funding request). When service opens in 2024/25, transit riders will be able to reliably connect from eastside communities feeding from I-405 BRT at the I-405/SR 522 Transfer Hub at the I-405/522 interchange westbound through the University of Washington Bothell Campus along the SR 522 corridor on to Link Light Rail at Shoreline South/145th Street Station. Project Description: The buses are part of the new BRT “STRIDE” service that will connect the communities of Shoreline, Seattle, Lake Forest Park, Kenmore, Bothell, and Woodinville along NE 145th/522 to the region’s light rail system.
    [Show full text]
  • RCW 39.10 Alternative Public Works Contracting General Contractor/Construction Manager (GC/CM) And/Or Design-Build (DB)
    State of Washington Capital Projects Advisory Review Board (CPARB) Project Review Committee (PRC) APPLICATION FOR RECERTIFICATION OF PUBLIC BODY RCW 39.10 Alternative Public Works Contracting General Contractor/Construction Manager (GC/CM) and/or Design-Build (DB) The CPARB PRC will consider recertification applications based upon agency’s experience, capability, and success in undertaking Alternative Public Works Contracting utilizing the General Contractor/Construction Manager (GCCM) and/or Design-Build (DB) project delivery process. Incomplete applications may delay action on your application. 1. Identification of Applicant a) Legal name of Public Body (your organization): Central Puget Sound Regional Transit (dba Sound Transit) b) Address: 401 S. Jackson Street, Seattle, WA 98104-2826 c) Contact Person Name: Nick Datz Title: Manager, Procurement and Contracts d) Phone Number: 206-398-5236 Fax: N/A E-mail: [email protected] e) Effective Dates of current Certification GC/CM 5/28/2018 DB f) Type of Certification Being Sought GC/CM X DB 2. Experience and Qualifications for Determining Whether Projects Are Appropriate for GCCM and/or DB Alternative Contracting Procedure(s) in RCW 39.10 (RCW 39.10.270 (2)(a)) Limit response to two pages or less. If there have been any changes to your agency’s processes addressing items (a) and (b) below, please submit the revised process chart or list. (a) The steps your organization takes to determine that use of GCCM and/or DB is appropriate for a proposed project; and (b) The steps your organization
    [Show full text]
  • The Purpose of This Meeting Is to Provide a Final Update on Roosevelt Station Design and Gather Public Comment
    WELCOME The purpose of this meeting is to provide a final update on Roosevelt Station design and gather public comment. 6 p.m. – Meeting opens 6:30 p.m. – Presentation begins How to comment: • Fill out a comment card provided at the comment table • Speak with our staff at this meeting • Send an email to [email protected] • Call 206-398-5300 to speak to the outreach team N 85thSt NORTH SEATTLE COMMUNITY TUNNEL PORTAL Meridian Ave N COLLEGE MAPLE LEAF Bagley Ave N Corliss Ave N 5 GREEN LAKE Latona AveNE PARK Northgate Station TRANSIT CENTER NORTHGATE NORTHGATE NE 92ndSt NE 90thSt NE 91stSt NE 95thSt 3rd Ave NE MALL Banner Way NE Way Banner 4th Ave NE NE NorthgateWay Eastlake Ave NE 5th Ave NE 5 NE 82ndSt NE 85thSt NE 78thSt NE 80thSt NORTHGATE LINKEXTENSION NORTHGATE NE 88thSt NE 62ndSt NE 68thSt NE 53rdSt NE 50th St 7th Ave NE NE 67thSt NE 59thSt NE 55thSt NE 70thSt NE 66thSt NE 64thSt 8th Ave NE 8th Ave NE NE 65thSt NE 73rdSt NE 42ndSt NE 41stSt NE 43rdSt NE 40thSt Washington Station Roosevelt Way NE Roosevelt Way NE NE Boat St Boat NE 11th Ave NE Lake City Way NE NE 100thSt NE 103rdSt Roosevelt StationRoosevelt HIGH SCHOOL ROOSEVELT 12th Ave NE Brooklyn Ave NE N E NE 77thSt NE 75thSt ROUTE ANDSTATIONS U District Station R University of University Way NE a v N Pacific St Pacific N e 15t n h Ave NE n a NE 47thSt RAVENNA PARK RAVENNA NE 45thSt B 16th Ave NE l v d WASHINGTON UNIVERSITY OF 17th Ave NE E S t e 18th Ave NE v e TC n P s Ave NE W 20th ay 21st Ave Ne Transit Center P Station E Re Tunnel MAP KEY ark-and-Ride leva t Ravenna Ave NE ained Cu STADIUM HUSKY t ed Rou Montlake Blvd NE Rou 25th Ave NE t t-fill e t e Lo Rou t t e Travel Times Travel CenturyLink fields Sea-Tac Airport Sea-Tac Husky Stadium 44 minutes 44 32minutes to Downtown 14minutes 20minutes Northgate to to Northgate Roosevelt to Roosevelt 7minutes Downtown Sample Northgate Seattle to U District Safeco & Bellevue 2 /15 ROOSEVELT STATION SCHEDULE 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Station final design .
    [Show full text]
  • Chapter 11 ) CHRISTOPHER & BANKS CORPORATION, Et Al
    Case 21-10269-ABA Doc 125 Filed 01/27/21 Entered 01/27/21 15:45:17 Desc Main Document Page 1 of 22 TROUTMAN PEPPER HAMILTON SANDERS LLP Brett D. Goodman 875 Third Avenue New York, NY 1002 Telephone: (212) 704.6170 Fax: (212) 704.6288 Email:[email protected] -and- Douglas D. Herrmann Marcy J. McLaughlin Smith (admitted pro hac vice) Hercules Plaza, Suite 5100 1313 N. Market Street Wilmington, Delaware 19801 Telephone: (302) 777.6500 Fax: (866) 422.3027 Email: [email protected] [email protected] – and – RIEMER & BRAUNSTEIN LLP Steven E. Fox, Esq. (admitted pro hac vice) Times Square Tower Seven Times Square, Suite 2506 New York, NY 10036 Telephone: (212) 789.3100 Email: [email protected] Counsel for Agent UNITED STATES BANKRUPTCY COURT DISTRICT OF NEW JERSEY ) In re: ) Chapter 11 ) CHRISTOPHER & BANKS CORPORATION, et al., ) Case No. 21-10269 (ABA) ) ) (Jointly Administered) Debtors. 1 ) _______________________________________________________________________ 1 The Debtors in these chapter 11 cases and the last four digits of each Debtor’s federal tax identification number, as applicable, are as follows: Christopher & Banks Corporation (5422), Christopher & Banks, Inc. (1237), and Christopher & Banks Company (2506). The Debtors’ corporate headquarters is located at 2400 Xenium Lane North, Plymouth, Minnesota 55441. Case 21-10269-ABA Doc 125 Filed 01/27/21 Entered 01/27/21 15:45:17 Desc Main Document Page 2 of 22 DECLARATION OF CINDI GIGLIO IN SUPPORT OF DEBTORS’ MOTION FOR INTERIM AND FINAL ORDERS (A)(1) CONFIRMING, ON AN INTERIM BASIS, THAT THE STORE CLOSING AGREEMENT IS OPERATIVE AND EFFECTIVE AND (2) AUTHORIZING, ON A FINAL BASIS, THE DEBTORS TO ASSUME THE STORE CLOSING AGREEMENT, (B) AUTHORIZING AND APPROVING STORE CLOSING SALES FREE AND CLEAR OF ALL LIENS, CLAIMS, AND ENCUMBRANCES, (C) APPROVING DISPUTE RESOLUTION PROCEDURES, AND (D) AUTHORIZING CUSTOMARY BONUSES TO EMPLOYEES OF STORES I, Cindi Giglio, make this declaration pursuant to 28 U.S.C.
    [Show full text]
  • Where Business Community
    Where business meets community A 66,750 SF Class A office building adjacent to UW Tower in the U-District OWNERSHIP EXCLUSIVELY LISTED BY wsecuplaza.com UNIVERSITY/ The U District’s intersection EASTLAKE BRIDGE of social & business WSECU is pleased to announce its new Class A, 7-story office building located within the University District, home of the University of Washington, and next to UW Tower. FUTURE U DISTRICT LINK LIGHT RAIL STATION WSECU is committed to the success of its members and community and offers the ideal setting for evolutionary companies to collaborate, grow, and thrive. At WSECU Plaza, you’ll be in good company. THE CREDIT UNION FOR 7 WASHINGTON WSECU is a member-owned credit union serving the people of Washington STORIES State and will have a branch on the first floor. The dollars our members deposit go right back into the community we’re all a part of, helping fellow members build homes and go to college, creating more jobs and strengthening our local 66,750 economy right here in Washington. NEW U DISTRICT LINK TOTAL SF LIGHT RAIL STATION WSECU Plaza is one block from the new U District Station scheduled to open in 2021. It will serve the surrounding residential community, the “Ave” business district, other 50,000 employment sites, the UW Tower, and the north UW campus. AVAILABLE SF COMMUNITY MEETING ROOM WSECU offers the local community a meeting space for groups to hold various types of gatherings. The meeting space will have direct access ±10,000 and be adjacent to Kitanda - coffee, espresso and açai.
    [Show full text]
  • The Northgate Fourplex Seattle Cbd
    THE NORTHGATE FOURPLEX SEATTLE CBD UNIVERSITY OF FREMONT WASHINGTON GREENLAKE WEDGWOOD GREENWOOD MAPLE LEAF NORTHGATE THE NORTHGATE FOURPLEX OFFERING Paragon Real Estate Advisors is proud to exclusively offer for sale The Northgate Fourplex situated in the vastly changing Northgate neighborhood of Seattle, Washington. Northgate will soon be home to the link light rail station (Opening in 2021), the new $68 Million NHL practice facility and the expansion of the Northgate mall that will include over one million square feet of retail and office space. The area will soon see a new demographic of renters attracted to the nearby retailers, employers, amenities and transportation options provided by the influx of capitol into the Northgate neighborhood. The Northgate Fourplex is comprised of four, well-maintained townhouse style units averaging 1,160 square feet in size. An investor can capitalize on rental upside with minor cosmetic upgrades to the kitchens and bathrooms. The property is perfect for an owner occupier to benefit from the income of three units while living in the stand alone two-bedroom, one-bathroom unit accompainied by two parking garages. Enjoy the privacy and comfort of a single-family home with its own garage parking and private driveway while maintaining a steady income stream from the other units. NAME The Northgate Fourplex ADDRESS 2319 N 113th Pl, Seattle, WA 98133 TOTAL UNITS 4 PRICE $1,275,000 PRICE PER FOOT $274.19 AVERAGE UNIT SIZE 1,160 Square Feet PRICE PER UNIT $318,750 MARKET GRM/CAP 17.14/5.41% LOT SIZE 11,483 Square Feet PRICE PER LOT FOOT $111.03 ZONING LR-2 (M) This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information.
    [Show full text]
  • Thornton Place, Seattle, USA
    Thornton Place, Seattle, USA Prepared by Stephanie Weeks and Tim Trujillo ‘A Town Center for North Seattle’ Left: aerial view of Thornton Place in Northgate. Below: plan of Thornton Place, bordered by NE 103rd St., 5th Ave NE & NE 100th St., Seattle, WA 98125 photo credit: Thornton Place Photo Photostream at flicker.com Thornton Place lies within the Specifications Northgate neighborhood just -Client: Lorig Associates, south of Northgate Mall. The LLC and Stellar Holdings area lies within the Northgate - Size: 50,000 sf of retail & Regional Growth Center which commercial; 55 low-income apartments; 224 market-rate was designated an Urban Vil- apartments; 109 condomini- lage in 1994. The population ums of the center was 5,740 people according to the 2000 census, while employment in the area was 10,655. 2001 marked the beginning of the City of Seattle’s effort to revitalize the area. 1 | SEATTLE “What began as extra parking for the 50-year-old mall is now a model for sustainable, transit-oriented development. The Northgate south lot revitalization project fills eight acres with more than 500 units of housing and three acres of open space.” Context Built in 1950, Northgate Mall has anchored the area’s retail development ever since. Since 2001, the mall has been expanded and now provides a more pedestrian friendly experience in addition to strengthening its regional appeal through big-name tenants. Anchors to the mall include Nordstrom, Gene Juarez, Barnes and Noble, and Target. The mall also greatly increased the amount of dining available at the site. The City of Seattle has built a library branch across 5th Avenue from the mall and upgraded street crossings at traffic intersections.
    [Show full text]
  • Sound Transit TOD Quarterly Report
    Quarter 2, 2020 TRANSIT-ORIENTED DEVELOPMENT Quarterly Status Report Cedar Crossing project at the future Roosevelt Station, which began construction in May 2020. Overview RCW 81.112.350 requires Sound Transit to provide quarterly updates on implementation of a regional equitable transit oriented development (TOD) strategy. The TOD program is empowered by the voter‐ approved plan to create diverse, vibrant and mixed‐income communities around transit. To achieve these outcomes, Sound Transit offers its surplus properties—those acquired for building and operating the transit system but no longer provide a transit use to the agency—as development opportunities for affordable housing or other developments benefiting the public. TABLE OF CONTENTS Highlights TOD program development TOD program implementation Transfers of Surplus Property Looking Ahead TOD Quarterly Status Report | Page 1 SOUND TRANSIT’S OFFICE OF LAND USE PLANNING & DEVELOPMENT | TOD Highlights Construction began on the Cedar Crossing project at Roosevelt Station. Cedar Crossing groundbreaking The TOD project at Roosevelt, Cedar Crossing, broke ground the week of May 11, 2020. The joint venture of Bellwether Housing and Mercy Housing NW is developing the 254-unit affordable housing building that is slated for completion in 2022. The project includes innovative community partnerships with Mary’s Place, Seattle Children’s, and El Centro de la Raza. The project is adjacent to the Roosevelt light rail station, which is set to open in 2021. Sound Transit and the Seattle Office of Housing partnered to offer the property at a discounted land price and committed $15 million in City funds to the project. Final RFP for the Operations Maintenance Facility East (OMF East) TOD The final submittals deadline of the Request for Proposals (RFP) for the OMF East TOD site closed on June 25.
    [Show full text]
  • June 23, 2021 Virtual Meeting
    1200 King County King County Courthouse 516 Third Avenue Seattle, WA 98104 Meeting Agenda Mobility and Environment Committee Councilmembers: Rod Dembowski, Chair; Pete von Reichbauer, Vice Chair; Claudia Balducci, Kathy Lambert, Jeanne Kohl-Welles, Joe McDermott, Dave Upthegrove, Girmay Zahilay Lead Staff: Leah Krekel-Zoppi (206-477-0892) Committee Clerk: Marka Steadman (206 477-0887) 9:30 AM Wednesday, June 23, 2021 Virtual Meeting REVISED AGENDA PUBLIC NOTICE: The Mobility and Environment Committee meetings will be held virtually until further notice. To help prevent the spread of the COVID 19 virus, the Chambers will be closed and all committee members and staff will be participating in the meeting remotely. The live feed of the video conference will be streaming on the King County Council's website and on KCTV Channel 22. Ways to provide public comment are noted below. Pursuant to K.C.C. 1.24.035 A. and F., this meeting is also noticed as a meeting of the Metropolitan King County Council, whose agenda is limited to the committee business. In this meeting only the rules and procedures applicable to committees apply and not those applicable to full council meetings. HOW TO PROVIDE PUBLIC COMMENT: The Mobility and Environment Committee values community input and looks forward to hearing from you on agenda items. You may comment in writing on agenda items by submitting your written comments to [email protected]. If your comments are submitted before 8:00 a.m. on the day of the Mobility and Environment Committee meeting, your comments will be distributed to the committee members and appropriate staff prior to the meeting.
    [Show full text]
  • Historic Property Survey Report: Seattle's Neighborhood Commercial
    HISTORIC PROPERTY SURVEY REPORT: SEATTLE’S NEIGHBORHOOD COMMERCIAL DISTRICTS Prepared by: Mimi Sheridan Cultural Resource Specialist Prepared for: City of Seattle Department of Neighborhoods Historic Preservation Program 700 Third Avenue, Seattle WA 98104 November 2002 PROJECT SUMMARY In 2000 the City of Seattle began a multi-year effort to update its inventory of historic resources throughout the city. Existing information, primarily from the 1970s, was out of date and inadequate to meet the challenges of growth management and the threats to the city’s traditional character posed by increasing demand for housing and commercial space. Two building categories and one neighborhood were selected for the initial round of surveys: neighborhood commercial districts, buildings constructed before 1905, and the University District. This report focuses on the methodology and findings of the survey and inventory of Seattle’s neighborhood commercial districts. The project began in the spring of 2001, with development of a work plan, which identified the survey criteria and boundaries. A context statement was then prepared, giving an overview of commercial development patterns throughout the city. Following this, a reconnaissance survey was done, looking at every building in the identified commercial districts. This survey recorded more than 1000 buildings that met the basic criteria of age (built prior to 1962) and architectural integrity. Two hundred of these structures were identified for further research and inclusion in the final inventory. Development patterns and physical characteristics of each neighborhood and of these 200 buildings are summarized here. In addition to this report, the Neighborhood Commercial District inventory includes 200 Historic Property Inventory forms in an electronic database format that will be available to the general public as well as to other city departments.
    [Show full text]
  • Connecting Download the App, Register and Drive
    Transportation Resources Want help getting here? Try our commute planning services: udistrictgo.org/commute-planning walk, One Bus Away mobile app: Real-time transit schedules. ride & bike Transit GO Ticket mobile app: Pay for bus, rail and water taxi tickets from your phone. the Bikes Bicycle Benefits: Get a sticker, put it on your helmet, bike to a participating business and save money! bicyclebenefits.org Bike share: It’s easy to get started, download the YOUR GETTING AROUND GUIDE app in your smartphone, rent and ride. U SPIN spin.pm | LimeBike limebike.com | Ofo ofo.com Car Share Don’t have a vehicle, but need one on occasion? Connecting Download the app, register and drive. Car2Go car2go.com | ReachNow reachnow.com ZipCar zipcar.com Late Night Transportation More than 60 bus routes serve the U District including 6 Night Owl Service routes that operate between midnight & 5 AM: kingcounty.gov/depts/transportation/metro/travel-options/ bus/night-owl.aspx University of Washington students and staff can utilize: Husky NightWalk 206.685.9255 (WALK) with transportationU resources Shuttle network facilities.uw.edu/transportation U DISTRICT ESTIMATED TRAVEL TIMES From UW Link Station to U District 26 min. walk / 1.2 mi. | 15 min. on transit From UW Link Station to University Village 20 min. walk / 1.1 mi. | 12 min. on transit Connect with us: From UW Link Station to E. Stevens Way NE UDistrictLetsGo 12 min. walk / .5 mi. | 9 min. on transit UDLetsGo From UW Link Station to Red Square (Meany Hall, Suzzallo Library) UDistrictLetsGo 13 min. walk / .6 mi.
    [Show full text]