sold

Listings/Burl (Development Site)

Burl (Development Site)

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Sold $5,868,295

Please visit our Listings page to view apartment buildings and development land currently on the market.

Development Details

Location
NE 148th St at 5th Ave NE & 6th Ave NE
Assembled Parcel Size
40,496 SF
Zoning
MUR 70
Massed Unit Count
240 Units
Height Limit
70’ Base Height / 140’ Max
Market Rental Rates
$2.60 per Square Foot
Submarket Vacancy Rate
3.2%

Parcel Summary

756870-0365
7,440 SF
756870-0360
6,448 SF
756870-0355
6,371 SF
756870-0340
7,440 SF
756870-0345
6,655 SF
756870-0346
6,142 SF

Location

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Burl (Development Site)

NE 148th St & 5th Ave NE
Shoreline, WA
Units: 172
Price: $5,868,295

Location Overview

Located just 9 miles north of Downtown Seattle, with neighboring cities such as Edmonds and Lake Forest Park, Shoreline is an ideal location with nearby urban attractions. Shoreline’s 400 acres of park land exudes classic Puget Sound elegance with its variety of interurban trails, beach access, and outdoor features such as a botanical garden.

Shoreline has many local employers, including CRISTA Ministries, Trader Joe’s, Fred Meyer, Central Market, Costco, Home Depot, Marshall’s, Shoreline Community College, Shoreline School District, and the Washington State Department of Transporation. Shoreline’s location also offers its residents easy commutes to the area’s largest employers, such as Boeing in Everett, Microsoft in Redmond, Amazon in South Lake Union, and other major tech companies in downtown Seattle.

A major development for the City of Shoreline will be the renovation of the Shoreline Place (previously known as Aurora Square Shopping Center), located just 1.5 miles from Shoreline South Station TOD. Renovation is scheduled to begin June 2018. With an open green plaza for citizens to relax and a bustling new mall, Aurora Square is anticipated to be a one-stop location for dining, nightlife, and healthy lifestyle options. It is the perfect intersection of life, study, entertainment, sustainability, and retail.

Shoreline has approved an upzone for the subarea surrounding the Shoreline South Station. This rezoning, which will happen in several phases, will add crucial density to the area by changing sections of the city into mixed-use residential land, with new height codes approved ranging from 3 to 7 stories.

Shoreline places a strong focus on the arts and education: this year the city welcomes back the Seattle International Film Festival, as well as its own Shoreline Arts Festival, which will draw over 10,000 people. Shoreline’s Public Art Program encourages the power of art in public spaces to bring people together; create lively neighborhoods where people aspire to live, work, and visit; and inspire thought by enhancing the visual appeal of the community’s natural and built areas. Shoreline is well-known for its high quality public school system and contiued support of education.

144,005

Population (3-Mile Radius)

41

Median Age (3-Mile Radius)

$91,979

Average Household Income (3-Mile Radius)

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