The Northgate Development Site provides investors with the opportunity to acquire a 17,457-square foot residential development site ideally situated just north of the Seattle
urban core. Located in the rapidly developing Northgate neighborhood, the site offers future homebuyers easy access to the future Northgate Station slated to open in 2021. The $2 billion Northgate Link Extension project will not only allow commuters to reach jobs in downtown Seattle in less than 15 minutes, but the project is also driving extensive redevelopment projects in the surrounding neighborhood. Plans are currently underway to overhaul Northgate Mall, adding office towers and 1,200 units to the shopping center. Currently zoned for single family, the site can support 3 new homes or has the potential to be rezoned for denser development. Today, the demand for single-family residences continues to be at a record high, as the region’s economic booms continues unabated. The inventory of available single-family homes is at its lowest level in recent memory, driving the average price of home to levels never before seen in the Puget Sound region. This low supply creates a compelling market opportunity for developers to deliver a highly sought-after, ideally locatedsingle-family project to the Northgate neighborhood.
