ROOSEVELT LIGHT RAIL DEVELOPMENT OPPORTUNITY
LOCATION: 68th and Roosevelt Way NE, Seattle, WA
PRICE: $5,000,000
LOT SIZE: 14,656 Sq.Ft. (per King County Assessor)
ADDRESS & PARCEL NUM: 6717 Roosevelt Way NE (952810-2740) 853 NE 68th St (952810-2730) 849 NE 68th St (985810-2725)
UNITS: 95 (+/-)
ZONING: NC3P-65
HIGHLIGHTS: • Steps from Future Roosevelt Light Rail Station • Corner Lot Location • Roosevelt Urban Village Overlay • Roosevelt Light Rail Overlay • Current Walk Score of 92
600 University Street | Suite 2018 | Seattle, WA 98101 T 206.623.8880 F 206.623.7435 www.ParagonREA.com Incredible development opportunity one block from the future Roosevelt Light Rail station in NE Seattle.
LOCATION
The popular Roosevelt residential and retail hub is located North of the University District and East of Greenlake. Already one of the most pedestrian friendly neighborhoods in Seattle, the location boasts a “Walkscore” of 92 and is considered a “Walker’s Paradise.” The University of Washington, with an enrollment of 44,000 students, is located one mile away.
The immediate Roosevelt neighborhood has been experiencing a development boom as new apartment projects are under construction in anticipation of Sound Transit’s Roosevelt Light Rail Station, set to open in 2021.
SITE INFORMATION
The properties are situated on the Southwest corner of Roosevelt Way NE & 68th Street and total approximately 14,656 square feet (per King County Records) with lot dimensions of approximately 142’ feet x 103’ feet. The properties are zoned NC3P-65 and are within the Roosevelt Urban Village and Light Rail overlay districts, allowing developers additional Floor-to-Area ratios and more flexibility with parking requirements
ASSEMBLAGE AND CLOSING
The sale consists of three parcels with three separate ownership groups. The sites will be marketed and sold as a one package, however closing dates will vary between each ownership group. Please contact listing agents for further details. ROOSEVELT LIGHT RAIL STATION OVERVIEW
Located one block from the subject property, the Roosevelt Light Rail Station is part of the Northgate Link Extension of the Link Light Rail from Sound Transit. When the station is completed in 2021, riders have fast access to the University of Washington campus, Downtown Seattle, Capitol Hill, and Sea-Tac Airport.
Expected Travel Times Using Light Rail from Roosevelt Station:
To Downtown Seattle: 12 minutes To Sea-Tac Airport: 45 minutes To Northgate Station: 2 minutes
By 2030, Approximately 8,000 people per day are expected to board at the Roosevelt Light Rail Station.
SITE PLAN AERIAL MAP
Port of Seattle
Seattle CBD
Madison Park Capitol Hill South Lake Union
University of Washington
Wallingford University District U-Village
Ravenna
Greenlake
Roosevelt Roosevelt Light Rail Development Assemblage APARTMENTS | INVESTMENT | BROKERAGE
One Union Square | 600 University Street | Suite 2018 | Seattle, WA 98101 T 206.623.8880 F 206.623.7435 www.ParagonREA.com
NEIGHBORHOOD MAP
Subject Sites APARTMENTS | INVESTMENT | BROKERAGE
One Union Square | 600 University Street | Suite 2018 | Seattle, WA 98101 T 206.623.8880 F 206.623.7435 www.ParagonREA.com
MASSING STUDY
ADDITIONAL PHOTOS