OFFERING MEMORANDUM DEVELOPMENT OPPORTUNITY
807 Aurora Avenue North, Seattle, WA 98109
For more information, please contact:Bob Meyer [email protected]
Roger [email protected]
$ 7 , 7 5 0 , 0 0 0
Roger Lorenze 206.406.1547 [email protected] Meyer 206.695.4823 [email protected] For more information, please contact:
OFFERING/SUMMARY
ADDRESS807 Aurora Ave. N.Seattle, WA 98109
Price
$7,750,000 ($414/SF Lot)
Parcel Number
224900-0395
Size
Building: 9,293 sq. ft.
Lot: 18,700 sq. ft.
Zoning
SM-UP 85’ (M)
SM (Seattle Mixed)
UP (Uptown)
85’ (Maximum Height 85 feet)
M (Mandatory Housing Affordability)
Ewing & Clark, Inc. is proud to present the opportunity to acquire 807 Aurora Ave. North, located in the lower Queen Anne submarket of Seattle, Washington. This property includes a 9,293 square foot, single-story industrial building on a 18,700 square foot site. For development purposes, there are already tie-back and crane easement agreements in place with some of the adjacent properties. This property may also work for an owner-user looking for an industrial warehouse that is conveniently located along Aurora Ave. North in Seattle.
This property is located within the Seattle Mixed (SM) use zone within the Uptown (UP) urban center. With the upzoning that took place in March 2019, this property offers a variety of development uses ranging from residential, retail, hotel, and office. Up to a maximum height of 85 ft.
3This information has been obtained from sources believed reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness.
2110 Western Ave., Seattle, WA 98121 www.EwingandClark.com
NEIGHBORHOOD
807 Aurora Ave. N is ideally situated between the neighborhoods of South Lake Union and Queen Anne. South Lake Union is one of the strongest and most active office markets in U.S., and home to some of the largest technology companies in the world (Amazon, Google, Facebook, Apple and Netflix). While Queen Anne is one of the most vibrant neighborhoods where young professionals live in the Seattle area. Both neighborhoods offer a dense urban feel with all the amenities and options Seattle has to offer.
Besides the robust technology job market in this area, there are also many well-paying jobs in the biotech and health care fields. The subject property is also within walking distance of the world’s largest private foundation dedicated to giving (Bill & Melinda Gates Foundation) only adding to the overall diversity of the area and employment options.
The surrounding area of the subject property is a short distance from Seattle Center (64-acre) which is home to the Space Needle, the Chihuly Garden/Glass, the Seattle Opera, the Pacific Science Center, Paul Allen’s Museum of Pop Culture and the Pacific Northwest Ballet.
Roger Lorenze 206.406.1547 [email protected] Meyer 206.695.4823 [email protected] For more information, please contact:
MASSING STUDY 1 of 2 807 Aurora Avenue North, Seattle, WA 98109
807 Aurora Ave N
SITE
QUEEN ANNE
I-5
SOUTH LAKEUNION
LOWER QUEENANNE
WESTLAKE
CAPITAL HILL
SITE
Aloha St
Valley St
6th
Ave
N
Auro
ra A
ve N
Dext
er A
ve N
PROJECT INFORMATION
Project Address 807 Aurora Ave. N., Seattle
Project Type Apartments
Zone SM-UP 85 (M)
Adjacent Zones North: SM-UP 85 (M)
South: SM-UP 85 (M)
East: SM-UP 85 (M)
West: SM-UP 85 (M), LR3 (M)
Overlay Uptown Urban Center
Parking Flexibility Area No
Site Area 18,700 SF
Height Limit 85 Feet
FAR 5.25 for residential and non-
residential uses
Maximum Buildable Area 98,175 SF
(area does not include below grade levels)
Parking Required None
Amenity Area Required 5% of total gross floor area in
residential use
Design Review Required
PREPARED BY
5This information has been obtained from sources believed reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness.
2110 Western Ave., Seattle, WA 98121 www.EwingandClark.com
MASSING STUDY 2 of 2 807 Aurora Avenue North, Seattle, WA 98109
STUDIO19 ARCHITECTSPage 1 of 1
5510 25TH AVE NE PROJECT INFORMATION Project Address: 5510 25th Ave NE, Seattle Project type: Apartments Zone: NC2P-40, LR2 Adjacent Zones: North: SF-5000 South: NC2P-40 East: LR2 West: SF-5000/NC2P-40 Overlay: No Parking Flexibility Area: No Site Area: 7,500 SF Height Limit: NC2P-40 : 40’ (44 feet is the first level is 13’) LR2 : 30' FAR: NC2P-40: 3.0 Residential Max / 3.25 Mixed-Use Max LR2: 1.1 / 1.3 (higher FAR allowed with Green Building Performance Standards) Maximum Buildable Area: Residential Area: 18,250 SF (area does not include below grade levels) Total Area including Commercial: 19,500 SF (area does not include below grade levels) Parking Required: 1 stall per unit Design Review: Required * The summary provided is based on limited information and should be reviewed and confirmed with the City of Seattle.
AURORA AVE N
ALOHA ST
AURORA AVE N
STUDIO19 ARCHITECTSPage 1 of 1
5510 25TH AVE NE PROJECT INFORMATION Project Address: 5510 25th Ave NE, Seattle Project type: Apartments Zone: NC2P-40, LR2 Adjacent Zones: North: SF-5000 South: NC2P-40 East: LR2 West: SF-5000/NC2P-40 Overlay: No Parking Flexibility Area: No Site Area: 7,500 SF Height Limit: NC2P-40 : 40’ (44 feet is the first level is 13’) LR2 : 30' FAR: NC2P-40: 3.0 Residential Max / 3.25 Mixed-Use Max LR2: 1.1 / 1.3 (higher FAR allowed with Green Building Performance Standards) Maximum Buildable Area: Residential Area: 18,250 SF (area does not include below grade levels) Total Area including Commercial: 19,500 SF (area does not include below grade levels) Parking Required: 1 stall per unit Design Review: Required * The summary provided is based on limited information and should be reviewed and confirmed with the City of Seattle.
AURORA AVE N
ALOHA ST
AURORA AVE N
STUDIO19 ARCHITECTS Page 1 of 1
5510 25TH AVE NE PROJECT INFORMATION Project Address: 5510 25th Ave NE, Seattle Project type: Apartments Zone: NC2P-40, LR2 Adjacent Zones: North: SF-5000 South: NC2P-40 East: LR2 West: SF-5000/NC2P-40 Overlay: No Parking Flexibility Area: No Site Area: 7,500 SF Height Limit: NC2P-40 : 40’ (44 feet is the first level is 13’) LR2 : 30' FAR: NC2P-40: 3.0 Residential Max / 3.25 Mixed-Use Max LR2: 1.1 / 1.3 (higher FAR allowed with Green Building Performance Standards) Maximum Buildable Area: Residential Area: 18,250 SF (area does not include below grade levels) Total Area including Commercial: 19,500 SF (area does not include below grade levels) Parking Required: 1 stall per unit Design Review: Required * The summary provided is based on limited information and should be reviewed and confirmed with the City of Seattle.
Development Address 807 Aurora Ave N Zoning SM-UP 85 (M)Height Limit 85 feetLot Area 18,700 SFMaximum FAR (residential) 5.25 (98,175 SF)Maximum FAR (mixed use) 5.25 (98,175 SF)
AREAS (gross square feet) Residential Commercial Parking TotalP1 0 0 18,700 18,700L1 4,950 11,000 0 15,950L2 15,950 15,950L3 15,950 15,950L4 15,950 15,950L5 15,950 15,950L6 15,950 15,950L7 15,950 15,950Total Area 100,650 11,000 18,700 130,350
AREAS (FAR) Residential Commercial Parking TotalP1 0 0 0 0L1 4,555 0 0 4,555L2 15,555 15,555L3 15,555 15,555L4 15,555 15,555L5 15,555 15,555L6 15,555 15,555L7 15,555 15,555Total Area 97,885 0 0 97,885Total FAR 97,885
Note: Most ground level commerical uses are exempt from FAR. Below grade areas exempt from FAR.
Unit Count 120-130 units (number will vary based on unit mix and size)
Note: all areas shown above include residential amenity area (5% of residential area) and residential lobby, etc.
MHA FeesRequirements Performance Option 7% of units shall be affordable
Payment Option $20.75 per SF of total development
PREPARED BY
* The summary provided is based on limited information and should be reviewed and confirmed with the City of Seattle.
Roger Lorenze 206.406.1547 [email protected] Meyer 206.695.4823 [email protected] For more information, please contact:
AERIAL MAP 807 Aurora Avenue North, Seattle, WA 98109
SUBJECTPROPERTY
7This information has been obtained from sources believed reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness.
2110 Western Ave., Seattle, WA 98121 www.EwingandClark.com
DEMOGRAPHICS 807 Aurora Avenue North, Seattle, WA 98109
70
65
75
60
55
50
45
40
35
302000 Census 2010 Census 2019 Estimate 2024 Projection
TH
OU
SA
ND
S
P O P U L A T I O N(within 1 mile)
POPULATION 1 Mile 3 Miles 5 Miles
2019 Total Population 64,409 281,776 505,106
2024 Population 71,498 308,046 548,254
Population Growth 2019-2024 11.01% 9.32% 8.54%
Average Age 37.40 37.10 37.70
HOUSEHOLDS
2019 Total Households 39,922 145,890 252,348
HH Growth 2019-2024 10.34% 9.20% 8.31%
Median Household Income $98,876 $86,466 $91,410
Average Household Size 1.40 1.70 1.90
2019 Avg HH Vehicles 1.00 1.00 1.00
HOUSING
Median Home Value $598,500 $707,990 $694,086
Median Year Built 1997 1978 1967
R A D I U S
For more information, please contact:Bob Meyer [email protected]
Roger [email protected]
For more information about this property, please contact agents Bob Meyer or Roger Lorenze.
807 Aurora Avenue North, Seattle, WA 98109
