The Savvy Investor’s Top 3
Here’s what apartment investors in Snohomish need to know this month.
PROPOSAL SNOHOMISH REDEVELOPMENT IN FLOOD ZONES
An exception that grants a controlled ability to redevelop properties in flood-fringe areas will be advancing to the County Council. In essence, it grandfathers buildings from 1983 and earlier to give a one-time “use it or lose it” development credit. 1983 was when flood insurance maps were developed. Hundreds of properties in large areas south of Snohomish city limits and south of the Stillaguamish River in the flood fringe would become eligible.
200 UNIT DEVELOPMENT FOR MIXED INCOME HOUSING IN LYNNWOOD
Koz on Alderwood is scheduled to start construction this spring in Lynnwood. The property (4301 Alderwood Mall Blvd, Lynnwood WA) consists of 200 units with half of the units being designated for affordable units meaning that they’re restricted to residents earning up to 80% of the area median income. The project is located next to the Sound Transit Link Rail Station currently under construction.
QUARTER 1 REPORT RENT & SALES REPORT
We are going to release our Q1 Rent & Sales Research Report. Click here to receive a copy of the report. You’ll be able to see where Snohomish County saw rents grow and volume of sales this last quarter along with a 12 month trend.