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LESCHI/JUDKINS PARK DEVELOPMENT SITE SEATTLE SBD CAPITOL HILL PIONEER SQUARE JUDKINS PARK CENTRAL DISTRICT LESCHI KIRKLAND REDMOND UNIVERSITY DISTRICT FREMONT WALLINGFORD MADISON VALLEY QUEEN ANNE CAPITOL SLU MADISON HILL PARK MADRONA SEATTLE CBD CENTRAL BELLEVUE DISTRICT LESCHI LESCHI/JUDKINS PARK DEVELOPMENT SITE FUTURE JUDKINS PARK LIGHT RAIL STATION (2023) MT. BAKER BEACON HILL MERCER ISLAND INDUSTRIAL DISTRICT OFFERING Amazing Leschi/Judkins Park Opportunity! How often do you find a perfect project that literally bridges Seattle & Eastside Employment Hubs & is smartly sited in a charming neighborhood w/ coveted amenities & parks? It’s rare. This sizeable, partially permitted 20 townhouse project w/ an unbeatable location is a mere .5 mi to upcoming Eastlink Light Rail station, which will seamlessly connect Seattle & Eastside employment options. Your end-user pool just doubled. Look to the post-COVID urban lifestyle demand this project offers. 3 tax parcels- 25,451 sq ft in total, zoned LR2. If Light Rail & local mixed-use redevelopment hubs don’t excite you, perhaps the short 15 min drive to all Major employment centers of DT Seattle, SLU & Bellevue will. Seller is pursuing permits for a 20-unit townhouse project currently in the entitlement process, past Design Review with the City of Seattle. NAME Leschi/Judkins Park Development Site 800 28th Ave S, Seattle, WA 98144 ADDRESS 811 29th Ave S, Seattle, WA 98144 2801 S Dearborn St, Seattle, WA 98144 PARCEL NUMBERS 636290-0265, 056700-0612, 056700-0614 LOT SQUARE FEET 9,779 + 7,946 + 7,726 = 25,451 Square Feet ZONING LR2 (M) PRICE $6,300,000 PRICE PER LOT FOOT $246 PROPOSED DEVELOPMENT 20 Townhouses TERMS Cash Out 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. References to square footage or age are approximate. Buyer must verify all information and bears all risk for inaccuracies. INVESTMENT HIGHLIGHTS Large 25,451 square foot corner lot Zoned low-rise (LR2) for multifamily development Quick access to Downtown Seattle, South Lake Union, and Eastside Ideal townhouse site for 20 units Amenity rich neighborhood, including coffee shops, popular eateries and a high walk score Located o.5 mile to future Judkins Park Station with service to the Eastside (opens 2023) Plans for 20 townhouses partially completed through Design Review Nearby new construction townhouses selling for $800-900k LOCATION HIGHLIGHTS Judkins Park: A close-in neighborhood undergoing dramatic changes 0.5 miles or less to Starbucks, Walgreens, Standard Brewing, Wood Shop BBQ JUDKINS PARK 10 minute drive to Downtown Seattle DEVELOPMENT SITE 10 minute drive to Bellevue Bus route 14 provides easy access to Downtown Seattle 0.4 miles to Judkins Park 0.5 miles to future location of Judkins Park light rail station Easy access to I-90, I-5 Major employment HQs nearby: Amazon, Starbucks, Nordstrom, Expeditors International, Weyerhaeuser, Expedia, Zillow, Tableau, Zulily Major employment regional offices nearby: Google, Facebook, Apple, Twitter, Salesfore, eBay, Dropbox, Uber, SpaceX AMENITIES Restaurants & Bars/Shops 1. Central Pizza 2. Wood Shop BBQ 3. MedMix Jackson 4. Seattle Fish Guys 5. Chef Cafe 6. Reckless Noodle House & Cocktails 7. Moonlight Cafe 8. Heyday Bar & Restaurant 9. QED Coffee 10. Standard Brewing 21 10 12 17 11. Broadcast Coffee 19 12. Temple Pastries 3|5 2 11 1 16 13. Walgreens 7 4 6 20 13 LESCHI/JUDKINS PARK Parks/Schools/Services 14 DEVELOPMENT SITE 14. Judkins Park & Playfield 18 15. Sam Smith Park 8 16. Frink Park 15 9 17. Leschi Park 18. Thurgood Marshall Elementary 19. Seattle Girl’s School 20. Washington Middle School 21. Douglass-Truth Branch - The Seattle Public Library EASTSIDE EMPLOYER MAP KIRKLAND REDMOND CAMPUS LESCHI/JUDKINS PARK DEVELOPMENT SITE BELLEVUE SEATTLE SBD FUTURE EAST LINK LIGHT RAIL LINE MERCER ISLAND SEATTLE EMPLOYER MAP LESCHI/JUDKINS PARK DEVELOPMENT SITE JACKSON STREET DEVELOPMENT ACTIVITY All Within 1 Mile of Judkins Park Development Site 1. VULCAN DEVELOPMENT 2. 23RD & JACKSON DEVELOPMENT 3. DEP HOMES - JACKSON & 26TH SE Corner of 23rd and Jackson 2212 & 2214 S Jackson St 2524 S Jackson St 532 Unit Mixed-Use 2 - 6/7 Story Mixed-Use Buildings 4-Story Mixed Use Building Apartment/Retail Development 127 Affordable Housing Units 78 Residential Units Day Center Administrative Offices Ground Floor Retail 2 3 1 LESCHI/JUDKINS PARK DEVELOPMENT SITE LESCHI The trendy Leschi neighborhood, located east of the Seattle CBD and just north of Interstate 90, boasts some of the city’s most gorgeous views, wonderful classic architecture, tree-lined streets and a charming harbor/marina district on the lake. Leschi has a very LESCHI SOUTH casual, laid-back feel that residents enjoy even as it is MOORAGE on the crest of the dynamic and quickly growing Central District that for many years has experienced a major renaissance and surge in popularity. MADRONA BEACH The Leschi area has two main attractions – an LESCHI extensive park system and a bustling retail area. Leschi and Frink parks are interconnected and span down the hillside towards the lake and Madrona Beach. These parks offer terrific views, manicured green spaces, playgrounds, extensive hiking trails and boat moorage that allow you to explore both land and lake. The Leschi neighborhood is also very close to Seattle University, Leschi Elementary School, Garfield High School, Harborview Medical Center and Swedish Hospital. POPULATION MEDIAN HOUSEHOLD RENTER-OCCUPIED MEDIAN RENT INCOME HOUSING 5,304 $132,988 36% $1,725 CENTRAL DISTRICT The Central District is on the east side of Capitol Hill and is considered one of the oldest surviving residential neighborhoods in the city. Throughout its history it has seen many changes in demographics and politics, but has LANGSTON HUGHES SEATTLE CENTRAL recently seen a period of new construction and community PERFORMING ARTS COLLEGE improvement projects. CENTER Easily accessible to all major interstates and public transportation, the Central District features some of Seattle’s most well-known landmarks and institutions including Garfield High School, Langston Hughes Performing Arts Center, Ezell’s Chicken, and Washington Middle School, TT Minor School, and Washington Hall. Located nearby are many academic institutions including Seattle University, Seattle Central College and the Seattle Vocational Institute. The University of Washington is a short 10 minute drive away. Both I5 and I90 are easily accessible MADRONA BEACH with on ramps less than a mile from the subject property. CENTRAL DISTRICT POPULATION MEDIAN HOUSEHOLD RENTER-OCCUPIED AVERAGE RENT INCOME HOUSING 29,868 $69,524 46.5% $1,347 DEVELOPMENT HIGHLIGHTS PROPERTY SUMMARY ADDRESS 800 28th Ave S, Seattle, WA 98144 PARCEL NUMBERS 636290-0265, 056700-0612, 056700-0614 LOT SQUARE FEET 9,779 + 7,946 + 7,726 = 25,451 Square Feet ZONING LR2 (M) DEVELOPMENT POTENTIAL Proposed Development 20 Luxury Townhouses Floor Area Ratio 1.4 Density Limit No Limits Parking 1 per Unit The site is zoned LR2 (M). Assuming future development of 20 townhouses (1,563 sf avg.). MHA development fees for the Parcel C would be approximately $167,013 ($14.46/sf x 11,550 sf) (Buyer to verify). Parcels A and B were vested prior to HALA and exempt from MHA fees. SUMMARY OF PROPOSED DEVELOPMENT 2801 S DEARBORN ST, SEATTLE, WA 7 units 3 -Unit A – 2Bd/2Bth + Den, 1,460 sf 4 -Unit B – 2Bd/2Bth + Den, 1,520 sf Parking for 7 vehicles 811 29TH AVE S, SEATTLE, WA 6 units – 3Bd/2Bth – 1,540 sf Parking for 6 vehicles 800 28TH AVE S, SEATTLE, WA 7 units – 3Bd/2Bth – 1,650 sf Parking for 7 vehicles 4.0 SURVEY SURVEY PROJECT SITE 2801 S Dearborn St 811 29th Ave S 800 28th Ave S SURVEY 2505 3rd Avenue Suite 300C Seattle WA 98121 | 206.367.1382 CARON ARCHITECTURE 5 UTILITIES AND LAND USE MAPS SEWER AND DRAINAGE WATER Multi-Family LR2 LR2(M) ZONING AND LAND USE 2801 S DEARBORN ST SITE PLAN 4.0 SITE PLAN KEY Units Utility/BOH Planting Strip Walkway Parking/Driveway Amenity N SITE PLAN 6 STREAMLINED DESIGN GUIDANCE 811 29TH AVE S SITE PLAN 4.0 SITE PLAN KEY Units Utility/BOH Planting Strip Walkway Parking/Driveway Amenity N SITE PLAN 6 STREAMLINED DESIGN GUIDANCE 800 28TH AVE S SITE PLAN 4.0 SITE PLAN KEY Units Utility/BOH Landscape Walkway Parking/Driveway Amenity SITE PLAN N 2505 3rd Avenue Suite 300C Seattle WA 98121 | 206.367.1382 CARON ARCHITECTURE 5 2801 S DEARBORN ST RENDERING AND FLOOR PLANS 2801 S DEARBORN ST FLOOR PLANS LEVEL 2 2801 S DEARBORN ST FLOOR PLANS LEVEL 3 ROOF LEVEL 811 29TH AVE S RENDERING 811 29TH AVE S FLOOR PLANS LEVEL 1 LEVEL 2 811 29TH AVE S FLOOR PLANS LEVEL 3 ROOF LEVEL 800 28TH AVE S RENDERING 800 28TH AVE S FLOOR PLANS LEVEL 1 LEVEL 2 800 28TH AVE S FLOOR PLANS LEVEL 3 ROOF LEVEL 600 University St, Suite 2018 501 Pike St, Suite 200A Seattle Washington 98101 Seattle Washington 98122 206 623-8880 / [email protected] 206 659-1504 / [email protected] www.ParagonREA.com www.meisterstewart.com 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. References to square footage or age are approximate. Buyer must verify all information and bears all risk for inaccuracies..
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