Amazing Transit Proximity
Adjacent to Light Rail Station
Located Less Than 250 Feet from Shoreline Station
Shoreline rests minutes outside Seattle's bustling downtown. Known for green open spaces and a strong school district, the area is ripe for the type of development that can accommodate the new Light Rail system's ridership figures. No site of this size is currently available in the region, making this a prime development opportunity for those looking to engage in transit-oriented development. While urban central cities are projected to do well in the coming years based on current demand, places that mix the best of suburban and compact, mixed use qualities continue to become more desirable. In a recent national survey American in 2013: Focus on Housing and Community, ULI found that among all adults polled (including Baby Boomers and Millennials/Gen Y-ers), the quality of public schools, parks and recreation opportunities, walkability, and short distance to work or school all ranked as important or very important. Shoreline’s reputation as a livable community, with good schools, parks, trails, and other amenities, will continue to attract residents in the coming decades.
Mixed-Use Multifamily Density
and PTE Exempt
Property Tax Exempt with the Flexibility to Go Up to 14 Stories in Height
Develop up to 7 stories by-right, but incorporate additional affordability into the mix and the buyer will be able to build up to 14 stories, giving the site enough density for over 500 units. Green building standards exist in these plans and allow for flexibility in density and massing. A pre-design meeting with the City can be arranged and the site qualifies for Property Tax Exemptions given the level of affordability required.
A pedestrian plaza serves to separate the massing while also responding to the design guidelines established by the City of Shoreline. Ground floor retail in close proximity to the Station makes this a sustainable retail destination. Plentiful parking will serrve over 240 residential units and support the building's commercial activity. As an 18 hour space, the plaza serves to anchor the site in a mix of activity and neighborhood amenities.
Relative to Seattle
According to Sound Transit, ridership is projected to grow to over 100 million trips per year in 2030 with half of all work trips to Downtown Seattle expected to be on transit.
ST2 expands light rail north from the University of Washington to Lynnwood, adding seven planned new stations in the University District, the Roosevelt neighborhood, Northgate, 145th Street/Jackson Park, Shoreline, Mountlake Terrace and Lynnwood. This extension is scheduled to be open to Northgate by 2020 and to Lynnwood by 2023. Downtown Seattle will be accessible in 20 minutes via Light Rail. Many transit options including bus and light rail will connect Shoreline to Univeristy of Washington, Shoreline Community College, and North Seattle College. By 2030, the completed projects in Sound Move and ST2, along with continued growth in ridership, means that public transit in the Sound Transit District will be carrying an estimated 165 million trips a year. Over 100 million of these trips will be on Sound Transit. Most importantly, these new transit trips will be concentrated in the region’s most congested corridors on bus routes and rail lines serving the region’s densest downtowns and urban centers.
and Ridership Growth
22 million riders will pass through the Shoreline stop by 2030, according to Sound Transit. There's tremendous strength in these numbers.
A key feature of the station area is that the north half is located in the City of Shoreline and the south half is located in the City of Seattle. While this is a very important distinction in terms of the provision of services and jurisdictional control, the market—potential residents, shoppers, business tenants, and other users who drive real estate demand, remains unaffected. In addition, the urban environment in Seattle will influence users’ positive perceptions of the station subarea in Shoreline as they look to transition away from the congested urban core.
The Sound Transit District is more than 1,000 square miles with a population of about 2.86 million people. There are currently more than 50 cities in the district, which includes most of the urban areas of King, Pierce and Snohomish counties.