2nd Avenue SW
Federal Way, WA 98023
3.03 Ac Residential Development Site · Land For Sale · 3.03 AC

This 3.03± acre infill residential view development site zoned for 9,600 square foot homesites is located within the Buenna neighborhood of Federal Way. There are commanding views west to Poverty Bay, the Olympic Mountains, and Maury Island. This site is one of the largest undeveloped parcels in this section of Federal Way. It has excellent access to Redondo Beach Pier with fishing pier and boat launch, Poverty Bay County Park, and Dash Point State Park. Adelaide Elementary School, Lakota Middle School, and Federal Way High School are nearby, and the property is within a ten minute drive of Pacific Highway South (Highway 99) and I-5 at 320th Street exit by The Commons at Federal Way. The property’s hillside location has frontage along both 2nd Avenue SW and SW 295th Street, providing options for development. Elevations range from 100 feet in the northwest, to 170 feet at the southeast corner, providing opportunity to design homesites that share a common drive with unobstructed views, by taking advantage of the topography. RS 9600 zoning could allow up to 14 homesites, but due to the western section being located where there is a small stream, some area will need to be retained as open space, and maximum density is estimated to be up to nine homesites. The property was originally platted in 1890 as 32 lots, providing the option for creating new homesites with a boundary line adjustment (BLA) that could accelerate entitlements. Summary of steps for obtaining entitlements with city of Federal Way are outlined in the Supplemental Information Package. Three development concepts have been outlined. One is nine 9,600 square foot homesites sharing a common gated entry drive from 2nd Avenue SW, with balance of property dedicated to open space. The second concept is development of two estate homesites with common gated entry from SW 295th Street. One homesite would be one acre, and one homesite two acres. Both homes would be located at the property’s ridgetop, and would have opportunity for construction of an attached studio or guest quarters with outdoor court and landscaped garden. The third concept outlines a total of seven homesites, with access from 2nd Avenue SW and SW 295th Street. All utilities are available to the property. Improvements to 2nd Avenue SW and SW 295th will most likely be based on density of development. Acquisition of the 3.03± acre secluded Puget Sound view development, within the upscale Buenna neighborhood, provides a rare opportunity for construction of up to nine custom homes, or two large estate tracts – all within proximity of Poverty Bay parks and I-5, and with access to both Seattle and Tacoma.