ne of the most exciting multifamily For Sale > odevelopment opportunities on the west coast
Stadium Terrace 589 Occidental Avenue s | SEATTLE, WA
Development opportunitY
> 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 Accelerating success.
104
Lake Forest Park
Stadium Terrace
Shoreline
Located 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!
Location Highlights > Ideally located in Seattle’s Stadium District, with NFL, MLB & MLS teams just feet away
522
Broadview 99
5
Northgate
> Nearly 6 million annual pedestrian visitors to the neighborhood > Located at the center of Seattle’s Stadium District Plan & minutes’ walk to CBD & Waterfront
Stadium Terrace
> Most transit rich neighborhood in region Green Lake
Ballard University District
5
Union Bay
Magnolia
520 Lake Union
Queen Anne
Ideal Timing
Lake Washington 99
> Perfectly timed to coincide with $1B+ revitalization of Seattle Waterfront > Anticipated arrival of NBA and possibly NHL, with addition of arena to Stadium District
Seattle CBD Elliott Bay
> Master Use Permit in process and building permits anticipated in 2014
5
> 4-Acre, $600M+ North Lot planned for phase I completion in 2014
90
Stadium Terrace
> Viaduct removal & direct access to Seattle Waterfront West planned for 2016 Seattle
1
Capitol Hill
2 3 4 5
Seattle by the numbers... SEATTLE. Number one city for Gen Y workers (PayScale, August 2012)
SEATTLE Second best city in America (Businessweek, September 2012)
SEATTLE. Fourth best global startup hub (GeekWire, November 2012)
SEATTLE. Third hottest American city of the future (Business Insider, June 2012)
White Center
509
Beacon Hill
SEATTLE. Fifth best US city for job growth (PSBJ, March 2012)
M I
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
retail features > 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
Project Summary Proposed Use
Mixed 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 GSF
Total 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%
6 7 8 9 10 WASHINGTON. 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)
WASHINGTON. 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)
Please contact us to receive a full package of materials for this exciting development opportunity. Dylan P. Simon Associate
Dave Schumacher Senior Vice President
David W. Mortensen Senior Associate
direct 206 624 7413 mobile 206 414 8575 dylan.simon@colliers.com
direct 206 382 8555 mobile 425 985 8528 dave.schumacher@colliers.com
direct 206 382 8554 mobile 206 604 6118 david.mortensen@colliers.com
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