A rare opportunity to acquire a corner lot in Seattle’s most sought after University District Urban Center.
The University District Apartment Development site is 5,000 square feet of land located at the corner of NE 42nd Street and 9th Ave NE in Seattle’s University District neighborhood. The property is ideally located few blocks from the University of Washington campus and U District Light Rail Station, which is slated to open in 2021. This forever location offers residents direct and convenient access to major employers in South Lake Union, Downtown Seattle, and the Eastside.
The proposed development is an 8-story, 44-unit apartment building. Amenities include rentable bike storage and a rooftop area. The heavy lifting of the entitlement process is substantially complete and the Master Use Permit is expected to be approved in early 2021.
|FOREVER LOCATION Less than a 10-minute walk to the University of Washington campus, U-District Light Rail Station (opening in 2021), and retail corridor, The Ave.|
|TRANSFORMING NEIGHBORHOOD The future U-District Light Rail Station (2021) and City’s approval on upzone has transformed U-District neighborhood to Seattle’s most sought after urban center.|
|ENTITLEMENT IN PROGRESS Heavy lifting of the entitlement process is substantially complete. The Master User Permit (MUP) is expected to be approved in early 2021.|
|THOUGHTFUL DESIGN Efficient floor plates designed with maximization of net rentable square feet.|
|DESIRABLE CORNER SITE Corner site offers excellent construction access and good exposure for leasing.|
|PROXIMITY TO EMPLOYMENT CENTER Easy commute to major employers: University of Washington, Seattle Children's Hospital, Amazon, Google, Facebook, and many startup companies.|
|WALK SCORE 91 / 100
Daily errands don't require car
|BIKE SCORE 76 / 100
Convenient for most Trips
|Transit SCORE 83 / 100
Convenient for most Trips
|Address||4205 9th Ave NE, Seattle, WA 98105|
|Urban Center/Village||University District Urban Center|
|Site Size||5,000 SF Land|
|Current Use||Rooming House|
|Entitlement Status||Master Use Permit: Final Correction Sent
Building Permit: Application Sent
|Height||8 Stories +
Partially Sunken Basement
|# of Units/Beds||44 / 47|
|Gross Floor Area||23,752 SF|
|Net Rental SF||14,710 SF|
|Avg. Unit Size||334 SF|
The University District is the most sought after neighborhood for office, residential, and hotel projects in Seattle
February 2017, the Seattle City Council passed new zoning height/density restrictions in the U-District neighborhood. The new upzoning allows buildings in some portions to be as high as 320 feet.
The U-District has already started to see to the benefits of upzoning with an increase of new development and retail options, along with an increase in employment opportunities, as more tech startups and other major employers eye the area.
The 2018 completion of a 7-story, 66,000 SF building on NE 45th St. started to accommodate the demand for commercial office space. Additionally, two Class-A office towers, totaling 400,000 SF, are proposed to be constructed on Brooklyn Avenue by 2023.
University of Washington campus to add 13,000+ students & staff by 2028
New U-District light rail station opening in 2021. Just around the corner from the University District Apartment Development Site, the new light rail station will increase residents’ access to employment hub in downtown Seattle, Bellevue and Redmond.
|5 MIN||Capitol Hill Station|
|5 MIN||NHL Seattle Facility|
|8 MIN||Downtown Seattle|
|15 MIN||CenturyLink Seattle|
|25 MIN||Amazon Bellevue Campus|
Seattle is a vibrant metropolis that continually attracts new people and businesses with its top-tier educational institutions and culture of innovation, competition, and entrepreneurship.
Seattle’s increasingly diverse economic base is anchored by aerospace, transport, tourism, and other traditional industries coupled with dynamic clusters of high technology and biotechnology firms, which will likely result in economic growth beyond the levels of other major comparable metropolitan areas.
The Seattle area, the nation’s 15th largest metropolitan area, is known for its strong business climate as well as its skilled workforce. Several factors contribute to the region’s thriving business community, from the prevailing entrepreneurial spirit to the education levels of its workforce. Innovative companies attract high-quality workers who typically possess a high level of education. This well-educated talent flows to economic centers, such as Seattle, for well-paying jobs as well as for the quality of life.
The U-District public transportation is getting a major overhaul that includes an extension of Sound Transit Light Rail, new bus routes, and redesigned streetscapes. These changes are, in part, due to the influx of population and the University of Washington expansion plans, as well as a means to address the Washington State Commute Trip Reduction (CTR) law to reduce carbon emissions and keep major roadways less congested.
Easy commute to major employers: University of Washington, Seattle Children’s Hospital, Amazon, Google, and Facebook
POPULATION (2020 - 3 MILE RADIUS)
BACHELOR'S DEGREE OR HIGHER (2020 - 3 MILE RADIUS)
RENTER OCCUPIED HOUSEHOLDS (3 MILE RADIUS)
AVERAGE HOUSEHOLD INCOME (2020 - 3 MILE RADIUS)
In 2017, the University of Washington finalized a Campus Master Plan in anticipation of enrollment growth along with other needs of the University community. The 10-year conceptual plan balances intensive investments while preserving historic campus assets. Upzoning approval from the City of Seattle will expand the surrounding community.
With immense growth over the last few years, the University of Washington plans to expand its campus up to 6,000,000 SF. Upzoning approval from the City of Seattle will expand the surrounding community, and aid in the reduction lone-driver commute to the campus to under 15% of University's population.