UW SEATTLE CBD 70,000 LOT SF 7 TAX PARCELS 50+ POTENTIAL SHORELINE, WA TIM MCKAY O: +1 206 223 5586 Tim.McKay@Colliers.com NORTHGATE MALL DAN CHHAN O: +1 206 223 1265 Dan.Chhan@Colliers.com SAM WAYNE Associate Vice President O: +1 206 515 4498 Sam.Wayne@Colliers.com TOD SITE Seattle Apartment Team North COLLIERS INTERNATIONAL, INC P. 1
THE OFFERING SHORELINE TRANSIT-ORIENTED The Seattle Apartment Team of Colliers International presents a well-located, Transit- Oriented Development Site just ½ mile South of the future Northeast 185th Street Light Rail Station. The Lynnwood Link extension is fully-funded and scheduled to open in 2024, providing direct service to the University of Washington and the Seattle CBD. The development site consists of seven tax parcels that are currently residential, but can be rezoned to MUR-35, which is ideal for townhouse or even lowrise apartment development. This site is currently scheduled to be rezoned in 2033, but the City of Shoreline Planning Department has offered to consider a rezone for the project in 2018. Please reach out to Miranda Redinger, Senior Planner with the City of Shoreline for more information (206) 801-2513. PROPERTY SUMMARY Address Parcel Number 17541-17561 10th Ave NE & 830-906 Serpentine Pl Shoreline, WA 98155 92710-0426, 92710-0425, 92710-0434, 92710-0436, 92710-0441, 92710-0439, 92710-0445 Site Area 70,093 SF (1.60 acres) Zoning R6 Potential Rezone MUR-35 Townhouse Units 51 PRICING SUMMARY PRICE TO BE DETERMINED BY MARKET P. 2 SHORELINE
INVESTMENT HIGHLIGHTS INFILL LOCATION HALF MILE FROM FUTURE LIGHT RAIL STATION The Shoreline Townhouse Development Site is located only a ½ mile from the future Northeast 185th Street Light Rail Station, expected to open in early 2024. The location is ideally situated within walking distance to the station, but not too close to be overcome with noise and pollution from Interstate-5. Ridership is expected to exceed 70,000 riders each weekday by 2035. The light rail station will provide transport to: TRANSPORTATION 0.5 miles from future 185th Street Light Rail Station Northgate Mall in 5 minutes University of Washington in 11 minutes Downtown Seattle CBD in 19 minutes Downtown Bellevue CBD in 52 minutes Seatac Airport in 53 minutes In addition to the light rail station, the Shoreline Townhome Development Site is less than a ½ mile from food, drinks, coffee, groceries, shopping, and parks. Interstate-5 is five blocks West, providing ingress/egress access to Seattle and the surrounding areas by car or bus. SHORELINE IS A PRO-DEVELOPMENT CITY In September 2016, the city of Shoreline rezoned properties around the future light rail stations to promote transit-oriented development. The Shoreline Townhome Development Opportunity is scheduled to be rezoned to allow a residential development up to 35 feet, with no maximum density or maximum unit count. The City of Shoreline will consider a rezone sooner upon request. In a development scheme provided by Caron Architecture, this site would accommodate more than 50 townhomes with ample parking and rooftop decks. The Seattle region has had the fastest appreciating single family home market for 15 straight months. LIGHT RAIL TIMES 11 MINS TO UW 19 MINS TO DOWNTOWN 53 MINS TO SEATAC AIRPORT COLLIERS INTERNATIONAL, INC P. 3
NEIGHBORHOOD DEMOGRAPHICS GREAT SUBMARKET DEMOGRAPHICS Located in the city of Shoreline, this assemblage is in close proximity to the Central Business District via the future 185th Street Light Rail Station. Shoreline is one of the best performing submarkets with great demographics to support continued growth. Population 35,674 Average Household Size 2.5 EMPLOYMENT White Collar 69% Services 17% Blue Collar 15% Median Age 43.5 Bachelors/Grad/ Prof Degree 48% High School Graduate 14% Median Household Income $79,442 Some College 32% EDUCATION P. 4 SHORELINE
NE SER PEN T INE PL North 10TH AVE NE COLLIERS INTERNATIONAL, INC P. 5
TIM MCKAY O: +1 206 223 5586 M: +1 206 369 7599 Tim.McKay@Colliers.com DAN CHHAN O: +1 206 223 1265 M: +1 206 321 2047 Dan.Chhan@Colliers.com SAM WAYNE Associate Vice President O: +1 206 515 4498 M: +1 206 351 7656 Sam.wayne@Colliers.com COLLIERS INTERNATIONAL 601 Union Street, Suite 5300 Seattle, Washington 98101 +1 206 223 0866 www.colliers.com This document has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, express or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this documents and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and/or its licensor(s). 2018. All rights reserved. P. 6 SHORELINE