multifamily development opportunity
DESCRIPTION
Apartment development opportunity in SeattleTRANSCRIPT
Accelerating success.
Stadium terrace589 Occidental avenue S | Seattle, Wa
> develop & own an iconic building in a landmark location> 30 yards from SeahaWkS FOOtball / SOunderS SOccer & blocks from marinerS baSeball> 105 modern, light-filled apartments with city, elliot bay & Olympic mountain views> Jewel-box retail at the heart of the Stadium district with nearly 6 million annual visitors> Perfectly timed to revitalization of Seattle waterfront & anticipated arrival of nba to Seattle> located in the most transit oriented neighborhood in the region, possibly the nation
FOR SALE > one oF THe MoST excITInG MULTIFAMILy DeveLoPMenT oPPorTUnITIeS on THe WeST coAST
DEVELOPMENT OPPORTUNITY
1 2 3Seattle by the numbers...
SEATTLE.Number one city for Gen Y workers (PayScale, August 2012)
SEATTLESecond best city in America (Businessweek, September 2012)
SEATTLE.Third hottest American city of the future (Business Insider, June 2012) 4 5SEATTLE.
Fourth best global startup hub (GeekWire, November 2012)
SEATTLE.Fifth best US city for job growth (PSBJ, March 2012)
Location Highlights> Ideally located in Seattle’s Stadium District, with NFL,
MLB & MLS teams just feet away
> Nearly 6 million annual pedestrian visitors to the neighborhood
> Located at the center of Seattle’s Stadium District Plan & minutes’ walk to CBD & Waterfront
> Most transit rich neighborhood in region
Ideal Timing> Perfectly timed to coincide with $1B+ revitalization
of Seattle Waterfront
> Anticipated arrival of NBA and possibly NHL, with addition of arena to Stadium District
> Master Use Permit in process and building permits anticipated in 2014
> 4-Acre, $600M+ North Lot planned for phase I completion in 2014
> Viaduct removal & direct access to Seattle Waterfront planned for 2016
Lake Union
Union Bay
Lake Washington
Green Lake
Elliott BayLake
Sammamish
Seattle CBD
Capitol Hill
University District
Ballard
Broadview
ShorelineLake Forest
Park
Northgate
Queen Anne
Magnolia
Beacon Hill
White Center
Mercer Island
West Seattle
Bellevue
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Stadiumterrace
Stadium TerraceLocated in Seattle’s emerging Stadium District, Stadium Terrace is one of the most exciting multifamily development opportunities to hit the West Coast in years. With amazing double-height restaurant space, jewel-box retail and gorgeous modern apartment spaces, Stadium Terrace will redefine Seattle living!
Stadiumterrace
6 7WASHINGTON.Sixth next boom state (U.S. Chamber of Commerce, June 2012)
SEATTLE.Seventh strongest commercial real estate market (Urban Land Institute/Pricewaterhouse Coopers, October 2012) 8 9 10WASHINGTON.
Eighth best state for growth, productivity, & livability (U.S. Chamber of Commerce, June 2012)
WASHINGTON.Ninth best economic output per job (U.S. Chamber of Commerce, June 2012)
SEATTLE.Tenth best-paying city for women (Forbes, January 2012)
Project Summary
Proposed UseMixed use containing residential apartments, commercial and restaurant space, and residential parking and storage
Location 589 Occidental Ave S | Seattle WA 98104
Major Street Exposure 241 ft on Occidental Ave S; 265 ft on Railroad Way S
Existing Improvements Seattle Plumbing Building built in 1903
Total Units 105
Lot Size .39 Acres / 17,171 SF
Height 12 Stories above grade
Parking 88 Stalls above grade
Roof Level 12 roofdeck with green roof
Construction Type Concrete frame, IB construction
Parcel Number 7666204879
Existing Zoning PSM 85’-120’ Pioneer Square Mixed, Special Review; No FAR requirement
Architect Weinstein Architects & Urban Designers
Project Status MUP Submittal Date: October 31, 2012; DD Kickoff: February 2013; Target Permit: July 2013
Unit Mix
Unit Type # Avg.
Unit GSFTotal GSF %
Studio 60 488-759 35,599 57%
1 BR 38 590-895 30,521 36%
2 BR 7 1,190-2,033 13,388 7%
total 105 757 79,508 100%
> Exposed brick & concrete patina
> 500 feet of retail frontage along sports promenade
> 6,000 SF of double height restaurant space
> 3,500 SF of jewel-box retail
> Nearly 6 million annual visitors to neighborhood
retail featureS
Development Highlights> Exciting mixed-use project incorporating adaptive re-use of non-designated, historic building> 105 beautifully designed units with 6 gorgeous penthouse units overlooking sports arenas> Iconic building design with amazing panoramic city, water & mountain views
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direct 206 624 7413 mobile 206 414 8575 [email protected]
DAve ScHUMAcHer Senior Vice President
direct 206 382 8555 mobile 425 985 8528 [email protected]
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coLLIerS InTernATIonAL
601 Union Street, Suite 5300 Seattle, Washington 98101 206 223 0866
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