F i r s t H i l lD E V E L O P M E N T S I T E

CAPITOL HILLSEATTLE CBD

QUEEN ANNE

INTERBAY

FIRST HILL

SOUTH LAKE UNION LIGHT RAIL

SOUTH LAKE UNION

F i r s t H i l lD E V E L O P M E N T S I T E

FIRST HILL STREETCAR LIGHT RAIL

LINK LIGHT RAIL

Paragon Real Estate Advisors is pleased to offer for sale the First Hill Development Site. This Small Efficiency Dwelling Unit (SEDU) or Congregate apartment development site provides an investor with the opportunity to own a building in a highly sought-after location. This corner parcel sits at the intersection of 9th Ave and Cherry St inside the First Hill neighborhood with close proximity to frequent transit, abundant neighborhood amenities, and major employment centers such as the Central Business District and First Hill medical centers. The HR (M) zoning allows for very dense residential development and no required parking, making it an ideal SEDU or Congregate apartment development site.

NAME First Hill Development Site

ADDRESS 621 9th Ave, Seattle, WA 98104

PARCEL NUMBER 859040-0795

PRICE $3,650,000

LOT SIZE 5,964 Square Feet

ZONING HR (M)

MHA DESIGNATION High MHA Area

PRICE PER FOOT $612.01

O F F E R I N G

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.

� Located just two blocks from Seattle’s CBD

� Walking distance from the Virginia Mason, Swedish and Harborview Medical Centers

� Views of the city and the Puget Sound

� The First Hill/Capitol Hill Urban Center does not require parking

� With a base FAR of 7 and a max FAR of 15, the high-rise zoning makes it an ideal spot for SEDU or Congregate apartments

� Very Walkable

� Nearby Schools and Parks

� Area of high-paying medical and corporate jobs

� 29 - Unit condominium massing study has been completed on the site. Preliminary massing study can be provided upon request.

I N V E S T M E N T H I G H L I G H T S

F i r s t H i l lD E V E L O P M E N T S I T E

Z O N I N G C O D E A N A L Y S I S / S U M M A R Y O F D E V E L O P M E N T S T A N D A R D S

Zone HR (M), with First Hill Urban Village Overlay

ECAs Steep Slope in the rear/alley side of site It appears that the Steep Slope ECA was created as a result of previous street grading for the alleyway. Per geotechnical opinion, it meets the criterion for a Relief from Prohi-bition on Steep Slope ECA Development.

USES (23.45.504)

Residential uses permitted outright

FAR (23.45.510, Table B)

Base 7, MAX 15 7 x 5,964 = 41,748 sf allowed PROVIDED: 27,009.5 sf (Subject to Administrative Review)

STRUCTURE HEIGHT (23.45.514)

80’ for MR, 440’ for HR

+ 4’ allowed for parapets, railings, planters+ 10’ allowed for stair penthoused+ 16’ allowed for elevator overrun

SETBACKS (23.45.518)

Front: 7’ average, 5’ min no setback required if a courtyard (15’ wide x 20’ deep ) is provided at grade and abuts the street PROVIDED: 15’ wide x 20’ deep courtyard and build against the property line along 9th and Cherry

Sides: 7’ average, 5’ min for facades < 42 ft in height 10’ average, 7’ min for facades > 42 ft in height PROVIDED: 7 feet from Level 1 to Level 3; 10 feet from Level 4 to roof

Rear: 10’ min abutting an alley PROVIDED: 10 feet setback

Possible 25% front setback modification exists per 25.09.280 due to steep slope buffer

AMENITY AREA (23.45.522.C&D)

5% of the total gross floor area in residential use no more than 50% of the amenity area may be enclosed. 50% of a common amenity at ground level shall be landscaped. REQUIRED: 27,009.5 sf x 5% = 1,350.5 sf PROVIDED: 640 sf (outdoor courtyard) + 636 sf (lobby amenity) + 150 sf (rooftop) = 1,426 sf

GREEN FACTOR (23.45.524.A.2)

0.5 or greater

TRASH AREA (23.54.040.A)

225 sf, 12’ min width PROVIDED: 245 sf + 69 sf = 314 sf

PARKING & ACCESS (23.54.015, Table B)

No parking required in Urban Villiage Zone PROVIDED: 20 parking stalls with an automatic stacking parking system

B U I L D I N G P L A N

B U I L D I N G P L A N

L O C A T I O N H I G H L I G H T S

� First Hill Development Site is located two blocks from downtown Seattle

� Transit Paradise: Metro Bus Service, Lightrail, First Hill Street Car

� Walking distance to all necessities including restaurants, parks, grocery stores, shopping and entertainment amenities

� Direct access to Interstate 5

� 300,000+ jobs in the immediate area

� First Hill is home to all the major medical centers in Seattle including Swedish, Harborview, Virginia Mason and Providence Medical Centers as well as the many health and wellness support businesses.

� Located within walking distance to Seattle Central College and Seattle University

� Short distance to Seattle Mariner’s T-Mobile Park, Seattle Seahawks and Seattle Sounders Century Link Field

WALK SCORE

97

TRANSIT SCORE

100

BIKE SCORE

71

Rising behind the downtown retail core, First Hill is a diverse jumble of high-rise apartments, historic mansions and hospitals. First Hill is one of the few neighborhoods in Seattle to have fairly easily discernable border lines, with Yesler to the south separating First Hill from the International district, 12th Avenue on the east acting as the borderline to the Central district, and East Pike Street as the northern boundary with Capitol Hill. Interstate 5 divides downtown from First Hill on the west side.

Knowns for the high concentration of churches and hospital buildings this area is also home to many of the well-known private schools in the area. Seattle Academy of Arts and Sciences and the Northwest School are both highly regarded middle and high schools, while O’dea is a catholic high school for boys. In higher education, the Jesuit school Seattle University has been located in the neighborhood since 1898.

The neighborhood is no longer the mecca for well-to-do business people that it once was; however, it is having a resurgence as a residential area. In recent years the trendy restaurants of Capitol Hill have been spilling south of Pike and into First Hill, adding to the allure of the neighborhood.

F I R S T H I L L

Western Ave

2nd Ave Ext S

Elliott Ave

1st Ave

Battery

St

Mercer St

Wall St

Marion St

E Madison St

1st A

ve S

Auro

ra A

ve N

Alas

kan

Way

S

4th A

ve S

Madison St

Alaskan Way

2nd Ave

4th Ave

4th Ave

Alas

kan

Way

Viad

Alaskan Way Viad

7th Ave

Golf Dr S

10th

Ave

E

University St

E Denny Way

E Thomas St

Taylo

r Ave

N

4th Ave

E Roy StValley St

Belmont Ave E

Quee

n Ann

e Ave

N

Boren Ave S

Mercer St

S Royal Brougham Way

Seneca St

Columbia St

8th Ave

E Union St

2nd Ave

Howell St

6th Ave

Pine St

4th A

ve S

E John St

S Atlantic St

1st A

ve S

Union St

Westlake Ave

Alas

kan W

ay S

E Cherry St

E Oliv

e W

ay

15th Ave S

Broadway E

5th A

ve S

1st A

ve N

Elliott Ave

Rainier Ave S

Western Ave

Spring St

12th

Ave

S

E Yesler Way

E Aloha St

5th A

ve N

Roy St

Olive WayVirg

inia S

t

9th A

ve N

E Pike St

Pike St

Mercer St

Westlake Ave N

East

lake A

ve E

Fairv

iew A

ve N

James St

Yesler Way

S Dearborn St

Airport Way S

Stewart

St

Broad S

t

Broa

dway

S Jackson St

Denny Way

1st Ave

1st Ave

Boren Ave

Boren Ave

5th Ave

5th Ave

167

99

99

99

5

5

5

5

0 0.5 Mile0.25

0 0.5 KM0.25

13

1

7

1

8

3

4

9 55 2

1

9

11

31076

4

15

16

14

12

5

8

23

AMENITIES MAPFOOD & DRINK

1. Sushi Kanpai 2. Metropolitan Grill 3. Vito’s 4. Cedars in Capitol Hill 5. Rhein Haus 6. Sugar Bakery & Cafe 7. Tulio 8. The Hideout 9. Dick’s Drive-In 10. Primo Pizza Parlor 11. 8oz Burger & Co 12. Skillet diner 13. Pie Bar 14. Lark 15. Mad Pizza 16. Bebas & Amigos

HEALTH & WELLNESS

1. Harborview Medical Center 2. NW Fitness Gym 3. Downtown Seattle YMCA 4. Virginia Mason Hospital 5. Swedish First Hill

PARKS

1. Seattle University Park 2. Freeway Park 3. Cal Anderson Park 4. City Hall Park 5. Kobe Terrace 6. First Hill Park 7. Westlake Park

SHOPPING

1. Melrose Market 2. Pacific Place 3. Westlake Center

GROCERY

1. Quality Food Center (QFC) 2. Stockbox First Hill Grocery 3. Han’s Deli & Grocery 4. Plaza Select Foods 5. Trader Joe’s

ACTIVITIES

1. Frye Art Museum 2. Pike Place Market 3. Seattle Public Library 4. Convention Center 5. Seattle Aquarium 6. Century Link Field 7. T-Mobile Park 8. King Street Station 9. Seattle Art Museum

6

7

1

4

3

1

3

2

5

6

4

4

23

3

5

1

2

F i r s t H i l lD E V E L O P M E N T S I T E

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M A J O R E M P L O Y E R S - C E N T R A L B U S I N E S S D I S T R I C T

M A J O R E M P L O Y E R S - S O U T H L A K E U N I O N

S E A T T L E E C O N O M Y

Washington was recently ranked as the #1 economy in the United States. It is leading innovation potential, economic activity, and economic health. Seattle’s diversified industry is made up of older industrial and new technology companies. Seattle’s growth is driven by cloud services, AI, bio tech, aerospace engineering, green technology, e-commerce, and financial service enterprises. Large companies continue to dominate the business landscape. Seattle is home to 16 headquartered companies that are on Fortune 500’s list as the largest companies in the United States.

TECHNOLOGY

Seattle employs more than 165,300 people in the technology sector

with an average wage of $130,000.

LIFE SCIENCES

With over 1,700 research, medical device,

distribution and drug companies are located

here, and this area employs more than

36,000 people.

CONSUMER GOODS

Seattle is home to many national leaders in

consumer goods such as Starbucks, Costco, Nordstrom, REI and

Weyerhaeuser.

AEROSPACE

Home to Boeing, the biggest airline producer in the world, Washington state produces 90% of all commercial aircrafts in

the United States.

Company Employees Revenue

Amazon.com 647,500 $232,887,000Costco Wholesale 194,000 $141,576,000Microsoft 131,000 $110,360,000Starbucks 291,000 $24,719,500Paccar 28,000 $23,495,700Nordstrom 74,000 $15,860,000Expedia Group 24,500 $11,223,000Alaska Air Group 23,376 $8,264,000Expeditors Int’l of Washington 17,400 $8,138,400Weyerhaeuser 9,300 $7,476,000Fortive 24,000 $7,203,200Puget Sound Energy 3,140 $3,346,500TrueBlue 6,700 $2,499,200Itron 7,350 $2,376,100F5 Networks 4,409 $2,161,400Esterline Technologies 12,609 $2,034,800

THE FUTURE OF INDUSTRY IS IN SEATTLE

� Growing population of 3.87 million in the Seattle Metro area.

� 57% of the Seattle population has a bachelors degree or higher.

� Central business district provides more than 410,000 jobs.

� Seattle is expected to add an additional 40,000 to 50,000 jobs in 2019.

� Seattle offers high rents with an occupancy rate of 95%

� Seattle is home to many large companies in technology, life sciences, consumer goods and aerospace.

� High median income of $79,565.

� Seattle has 59+ cranes hovering over the skyline, the highest number in any US city. The top 25 construction projects are estimated to cost $23 Billion.

W H Y I N V E S T I N S E A T T L E ?W H Y I N V E S T I N S E A T T L E ?

600 University St, Suite 2018

Seattle Washington 98101

206 623-8880 / info@ParagonREA.com

www.ParagonREA.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.

F i r s t H i l lD E V E L O P M E N T S I T E