CLIENT CASE STUDIES
We hope you enjoy this overview of our non-profit, institutional and site redevelopment case studies. Please contact us if you have any questions or would like more detailed information: David Rothrock, SIOR, CCIM Principal | david@mwaseattle.com | 206.816.1572 Douglas O. Barrett, CCIM, JD Principal | doug@mwaseattle.com | 206.816.1579 Matt Brennan, B.B.A. Associate | matt@mwaseattle.com | 206.459.0782
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Meriwether Advisors
ABOUT US
Meriwether Advisors is a trusted real estate advisor to Pacific Northwest companies, institutions and urban landowners. With decades of experience, our team has provided some of the region’s most noteworthy organizations with objective market analysis, strategic advice, and transaction execution for the lease, purchase or sale of corporate and institution real estate assets. Meriwether advises leading Puget Sound institutions and non-profits on how to produce substantial revenue from valuable but underutilized real estate holdings. Transaction structures often allow the institution to retain ownership of their real estate through ground leases, condominium interests or joint ventures. Meriwether will always provide our clients with conflict free advice in their best interests.
www.meriwetheradvisors.com
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Non-profit, Institutional & Site Redevelopment Case Studies Frye Art Museum..................................................05 St. James Cathedral...............................................11 Trinity Episcopal......................................................17 University Temple United Methodist Church................................23 University Christian Church..........................29 Plymouth Church..................................................35 Seattle University...................................................41 Sorrento Hotel..........................................................47 Lakeside School.....................................................53 Pacific Science Center......................................57 St. Marks Cathedral..............................................61 Christian Science Organization at the University of Washington................67
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THE FRYE ART MUSEUM Location: First Hill Seattle, Washington Transaction Type: $130M Multifamily Development of 500 luxury apartment units ($14.1M Land Sale)
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Rendering courtesy of Perkins+Will Non-profit, Institutional and Site Redevelopment Case Studies
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Rendering courtesy of Perkins+Will Non-profit, Institutional and Site Redevelopment Case Studies
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ST. JAMES CATHEDRAL Location: First Hill Seattle, Washington Transaction Type: $150M Senior Living Development with 243 units 70 year ground lease transaction ($14.4M Land Valuation)
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Renderings courtesy of Ankrom Moisan Architects Non-profit, Institutional and Site Redevelopment Case Studies
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03 TRINITY EPISCOPAL Location: First Hill Seattle, Washington Transaction Type: $160M Master use permit secured for condo, office and retail development ($14.8M Land Valuation)
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Non-profit, Institutional and Site Redevelopment Case Studies
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Renderings courtesy of SCB
Non-profit, Institutional and Site Redevelopment Case Studies
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Non-profit, Institutional and Site Redevelopment Case Studies
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UNIVERSITY TEMPLE UNITED METHODIST CHURCH Location: University District Seattle, Washington Transaction Type: $200M Total Project Cost Student Housing Development with 900 student housing beds, 30,000rsf church sanctuary, 25,000rsf of office and 5,000rsf of retail ($28.7M Land Valuation)
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Non-profit, Institutional and Site Redevelopment Case Studies
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Drawings & renderings courtesy of GGLO Design
Non-profit, Institutional and Site Redevelopment Case Studies
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UNIVERSITY CHRISTIAN CHURCH Location: University District Seattle, Washington Transaction Type: $125M Student Housing Development 171 residential units Land sale with demo permit in hand ($18.8M Sale)
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Non-profit, Institutional and Site Redevelopment Case Studies
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Conceptual Elevation Strategy - Alley (West)
Conceptual Landscape Design
Conceptual Elevation Strategy - 15th Ave (East)
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Renderings courtesy of Akrom Moisan Architects Non-profit, Institutional and Site Redevelopment Case Studies
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Non-profit, Institutional and Site Redevelopment Case Studies
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06 PLYMOUTH CHURCH Location: Downtown Seattle, Washington Transaction Type: Strategic Site Assessment for Proposed $350M office, multi-family and retail development
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Photo by Adam Wells
Non-profit, Institutional and Site Redevelopment Case Studies
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Non-profit, Institutional and Site Redevelopment Case Studies
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Renderings courtesy of Touchstone
Non-profit, Institutional and Site Redevelopment Case Studies
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07 SEATTLE UNIVERSITY Location: Capitol Hill Seattle, Washington Transaction Type: Consulting, strategic and financial analysis, acquisitions, leasing and ground leasing, subleasing 25 assignments totaling $45M
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Photo by SKL Architects Non-profit, Institutional and Site Redevelopment Case Studies
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Non-profit, Institutional and Site Redevelopment Case Studies
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08 SORRENTO HOTEL Location: First Hill Seattle, Washington Transaction Type: Sale of Historic Hotel and 20-story Garage Development Site $21M fee simple sale of Hotel and Garage
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Photo by Adam Wells Non-profit, Institutional and Site Redevelopment Case Studies
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Project Zoning Summary
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Drawings by GGLO
GROUND FLOOR PLAN
PARKING FLOOR PLAN (UNDERGROUND)
2ND LEVEL PLAN - HOTEL
3RD LEVEL PLAN - HOTEL
4TH LEVEL PLAN - HOTEL
5TH LEVEL PLAN - HOTEL
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Site Option A: Hotel + Residential Tower
IMAGE LOOKING EAST
IMAGE LOOKING NORTH
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Drawings by GGLO
SECTION THROUGH E/W OF SITE
RESIDENTIAL USE HOTEL USE RETAIL USE GREEN SPACE
SECTION THROUGH N/S OF SITE
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09 LAKESIDE SCHOOL Location: Belltown Seattle, Washington Transaction Type: Long-term lease structure with options $5.25M leasehold valuation
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Meriwether Advisors
Photos courtesy of Kirtley-Cole Associates
Non-profit, Institutional and Site Redevelopment Case Studies
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Non-profit, Institutional and Site Redevelopment Case Studies
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PACIFIC SCIENCE CENTER Location: Belltown Seattle, Washington Transaction Type: Strategic Site Assessment for future sale
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Source: Google Maps
Non-profit, Institutional and Site Redevelopment Case Studies
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Non-profit, Institutional and Site Redevelopment Case Studies
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ST. MARKS CATHEDRAL Location: Capitol Hill Seattle, Washington Transaction Type: Strategic Site Assessment and Disposition Process to sell the historic St. Nicholas Building (42,000rsf)
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Meriwether Advisors
Photo by Benjamin Benschneider Non-profit, Institutional and Site Redevelopment Case Studies
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ST
EE
PS
LO
PE
ST. NICHOLAS CONDOMINIUMS
EXISTING ENTRANCE
NEW TOWNHOUSES
ST. MARKS CATHEDRAL
NEW ENTRANCE
PE
P SLO
STEE
ST. MARKS HALL
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1"=50'-0"
N
LEVEL 1 PLAN
PARKING PLAN
1 + DEN
1 + DEN
LOFT
LOFT
LOFT
929 sq ft
929 sq ft
929 sq ft
2264 sq ft
1956 sq ft
2520 sq ft
Drawings by Weinstein A+U
2 BED
23 1 BED 632.5 sq ft
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LOWER TERRACE
UPPER TERRACE
AMENITY
1 BED 584.5 sq ft
DROP OFF ZONE EXISTING BASEMENT
1 BED
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606.5 sq ft
30 MAIN ENTRANCE
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2
3
4
5
6
7
8
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STUDIO
1 BED
468.5 sq ft
630.5 sq ft
1 BED
1 BED
618 sq ft
630.5 sq ft
TOWNHOUSE TOWNHOUSE TOWNHOUSE TOWNHOUSE TOWNHOUSE TOWNHOUSE TOWNHOUSE TOWNHOUSE
NEW GARAGE
1850 sq ft
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LEVEL 2 PLAN
1850 sq ft
1850 sq ft
1850 sq ft
1850 sq ft
1850 sq ft
1850 sq ft
1850 sq ft
N
TOWNHOUSE ENTRANCE TERRACE
LEVEL 3 PLA 1"=30'-0"
1"=30'-0"
ST. NICHOLAS: PARKING PLAN
ST. NICHOLAS: LEVEL 1 St. Marks Feasibility - #19047 - 01/20/2020
St. Marks Feasibility - #19047 - 01/20/2020
2 + DEN 1,859.5 sq ft
2 BED
1 + DEN
1 + DEN
929 sq ft
929 sq ft
929 sq ft
OPEN 1 BED
1 BED
884 sq ft
632.5 sq ft
STUDIO 472 sq ft
1 BED
STUDIO
584.5 sq ft
493 sq ft
STUDIO 311.5 sq ft
STUDIO 473 sq ft
OPEN 1 BED
1 BED
773.5 sq ft
LEVEL 2 PLAN
LEVEL 1 PLAN
606.5 sq ft
1 BED
STUDIO 468.5 sq ft
630.5 sq ft
1 BED
1 BED
618 sq ft
630.5 sq ft
TOWNHOUSE TOWNHOUSE TOWNHOUSE TOWNHOUSE TOWNHOUSE TOWNHOUSE TOWNHOUSE TOWNHOUSE
STUDIO
OPEN 1 BED
386.5 sq ft
513 sq ft
STUDIO
OPEN 1 BED
485.5 sq ft
496.5 sq ft
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N
1"=30'-0"
1"=30'-0"
ST. NICHOLAS: LEVEL 3
ST. NICHOLAS: LEVEL 2
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N St. Marks Feasibility - #19047 - 01/20/2020
WORK RM
RECEPTION
LUNCH RM
STOR
ST. MARKS HALL LEVEL 1
MECH
CONF
MAIN HALL
OFFICE OFFICE OFFICE OFFICE
CONF SERV
MECH
COATS
RECEPTION
KITCHEN
1"=30'-0"
1"=30'-0"
St. Marks Feasibility - #19047 - 01/20/2020
LEVEL 2
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CHRISTIAN SCIENCE ORGANIZATION AT THE UNIVERSITY OF WASHINGTON Location: University District Seattle, Washington Transaction Type: Site Disposition for prime University District site on 41st & University Ave. 85 total units $6.8M Valuation
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Photo by Adam Wells
Non-profit, Institutional and Site Redevelopment Case Studies
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Drawing by Weinstein A+U Non-profit, Institutional and Site Redevelopment Case Studies
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We hope you have enjoyed this overview of our non-profit, institutional and urban site redevelopment projects. Please contact us if you have any questions or would like more detailed information: David Rothrock, SIOR, CCIM Principal | david@mwaseattle.com | 206.816.1572 Douglas O. Barrett, CCIM, JD Principal | doug@mwaseattle.com | 206.816.1579 Matt Brennan, B.B.A. Associate | matt@mwaseattle.com | 206.459.0782
Genuine Relationships. Proven Results.
www.meriwetheradvisors.com
www.meriwetheradvisors.com