DEVELOPMENT OPPORTUNITY
Renderings: © Anderson Illustration Associates, Inc. 2009
BOTHELL LANDING
A N E XC I T I N G D OW N TOW N R E V I TA L I Z AT I O N D E V E LO P M E N T I N B OT H E LL , WA S H I N GTO N
Split into four individual development sites, the City of Bothell is offering developers the
unique opportunity to participate in the realization of downtown Bothell’s walkable, vibrant,
mixed-use district: approximately 9 acres of core located retail, office and multifamily
land now available for development.
BOTHELL
LANDING
presents an exceptional development opportunity to
become partDowntown
Revitalization
of the largest municipally-led redevelopment in the state of Washington.
This offeringDeveloping
in
Bothell
provides the opportunity to acquire parcels totaling approximately 9
acres of core-located developable land. Split into four individual development sites,
unique opportunity to participate in the realization of downtown Bothell’s walkable,
Bothell’s
leaders
understand
that
the
pre‐development
process
can
be
challenging,
lengthy
and
as
a
resu
vibrant, mixed-use
district—“Bothell Landing”.
expensive.
They
took
two
important
steps
to
assure
an
efficient
and
predictable
permitting
process
to
en
Each development Block is offered for sale individually and there is no
restriction ondowntown
vision
would
become
reality.
the number of Blocks that can be purchased by a developer.
First,
the
City
completed
an
area‐wide
Environmental
Impact
Statement
(EIS)
and
a
utility
master
plan
to
SUMMARY downtown
for
development.
Developers
will
not
be
required
to
execute
separate
environmental
studies
OF BLOCK OFFERINGS
Block Designation
Acreage
SF
Zoning
project
is
in
compliance
with
the
Downtown
Revitalization
Plan.
Block A
.89 acres
38,850 SF SR 522 Corridor
Block E, F & G
.94 acres
41,100 SF Mixed: DT Core & DT
Second,
to
assure
the
process
was
fair
and
reasonable,
the
City
also
hired
an
outside
consultant
to
take
a
Neighborhood District
Block N
1.52
acres
66,100
SF
Mixed: Transition
look
at
the
City’s
permitting
process
and
make
recommendations
to
improve
City
performance.
Followin
District & DT
exhaustive
study,
the
City
executed
the
Development
Services
Initiative
(DSI)
to
implement
the
suggested
Neighborhood
District
and
improve
the
permit
process.
Block O
5.40 acres 235,100 SF Mixed: Transition
District & DT
Neighborhood
The
DSI
team
solicits
feedback
from
developers
on
an
ongoing
basis
to
identify
and
implement
improvem
District
TOTAL
8.75 acres
381,150
review
times,
internal
coordination,
city/applicant
communications,
quality
of
staff
reviews,
electronic
pe
tracking
and
filing
–
even
the
remodeling
of
the
lobby
to
make
it
more
customer
friendly.
In
addition,
the
City
has
taken
the
opportunity
to
make
further
enhancements:
delineated into “Block” designations, the City of Bothell is offering developers the
OFFERING HIGHLIGHTS
Pro-development
civic leadership
and substantial
public investment
already in downtown
infrastructure…
KEY ATTRIBUTES OF THIS OFFERING:
BLOCK
O
H
NE 185T
ST
BLOCK
O
NE 183RD ST
BLOCK
L WAY NE
BOTHEL
> Ability to purchase ‘core’ located development sites
in master-planned urban center
> Expedited pre-development/entitlement
process with pro-development municipality
Translates to
> Over $100 million invested in public
Lower development risk
infrastructure improvements
and more predictable
> Private investment totaling over $250
development returns.
million to date with more planned
> Validated market with proven apartment
rents in excess of $2.10 SF
> Bothell is home to nearly 50% of region’s biomedical
jobs in Puget Sound region
> Within one mile of UW Bothell, the fastest growing university in
Washington State
ST
NE 183RD
N
BLOCK
F
BLOCK
MAIN ST
BLOCK
G
E
OD
WO
L
EL
TH
BO
BLOCK
A
WAY
R 522)
N E (S
5 2 2)
DR (SR
ILLE
INV
LOCATION & REGIONAL HIGHLIGHTS
Solid Real Estate
fundamentals…
BOTHELL LANDING HIGHLIGHTS
Translates to
Strong market
demand today with
sustainable growth
in future demand
For years Bothell has been a Bedroom Community offering small town Seattle executives looking for a home away from
the fast paced city lifestyle. While Bothell still has a hometown charm localized in its town center and a resort-style
Main Street with boutique retail shops, the City is beginning to experience growth. The expansion of the University of
Washington’s Bothell Campus and the growth of Bothell’s biotech firms are driving the city’s expanding employment
base and development opportunities. Big city demographics (population 96,971) and economics combine with a
small town feel to support and sustain Bothell’s downtown commercial, retail, and residential growth.
KEY BOTHELL STATISTICS:
»H
ighly educated, highly skilled and well-compensated; a knowledge-worker office market.
»G
rowing rapidly. Bothell leads job growth on the Eastside in science, math, engineering and technical fields on a
percentage basis.
From 2010 to 2013, Bothell’s employment grew at an average annual rate of 1.3% -18% greater than that of the Eastside
as a whole.
» Specialized: Bothell is a biomedical device hub.
»U
W Bothell has grown by 74% since 2009 and currently has 4,600 enrolled students.
»T
he University is offering five new STEM degrees in 2014 and is opening the new Discovery Hall science and academic
building.
» A new $20 million student activity center opened in the fall of 2014.
» Population of 96,791 within a 3 mile radius of Bothell Landing
» Average age of 38 with 33% of the population between 21 and 44 years old
»A
n average household size of 2.50
» An estimated average household income of $94,987
BLOCK E
BLOCK OVERVIEW
±47’
±3
±22,400 SF
±235’
40
’
BLOCK E
BLOCK±18,700
A SF
BLOCK A
±360’
±47’
BLOCK A
±30’
BLOCK A
±122’
±225’
’
±225’
±3
80
’
ZONED DT NEIGHBORHOOD DISTRICT
0’
100’
±18,700 SF
±360’
BLOCK EFG
±75’
±75’
40
±41,100 SF TOTAL
Block E, F & G is at the.94
heart
of Bothell Landing, connecting the
ACRES
±38,850 SF TOTAL
±122’ SF TOTAL
new
downtown
with
the
historic
and healthy existing downtown.
±38,850
.89 ACRES
ZONED DOWNTOWN CORE
.89 ACRES
The site benefits from immediate access to SR 522 and SR 527
NEIGHBORHOOD
ZONED SR 522 CORRIDOR
±135’
which provide convenienceZONED
to thisDTparcel
for the DISTRICT
many shoppers
ZONED SR 522 CORRIDOR
travelling these routes (28,000/day and 14,000 cars/day
0’
100’
200’
respectively.
±38,850 SF TOTAL
±75’
±122’
ZONED DOWNTOWN CORE
±3
±22,400 SF
±135’
±225’
±3
80
’
±3
80
’
Block A is a very attractive site for either retail or multifamily development.
With frontage on SR 522 the high traffic
visibility (28,000 cars/day) makes the
site appealing for both product types.
The setting along the Sammamish River ±30’
at the Park at Bothell Landing creates
a desirable combination of high visibility
with serenity and tranquility.
±135’
±235’
±30’
±41,100 SF TOTAL
.94 ACRES
.89 ACRES
0’
100’
0’
200’
ZONED SR 522 CORRIDOR
0’
100’
200’
100’
200’
20
BLOCK O
BLOCK N
Block N offers immediate access to all the new and beneficial
development activity taking place Downtown while affording
a quieter positioning within the existing Bothell residential
neighborhood. The site could be purchased with Block O or a
portion of Block O, or independently.
±398’
±188’
±188’
±230’
±188’
±235,100 SF TOTAL
±232’
5.4 ACRES TOTAL
200’
±395’
±58’
±166,400 SF
3.82 ACRES
ZONED TRANSITION
DISTRICT
±232’
±166,400 SF
3.82 ACRES
ZONED DOWNTOWN NEIGHBORHOOD DISTRICT
±94,300 SF
±410’
±58’
±213’
±213’
±395’
ZONED TRANSITION DISTRICT
±213’
BLOCK O
BLOCK O
100’
±395’
±94,300 SF
±410’
BLOCK O
±72,100 SF
±235,100 SF TOTAL ±166,400 SF
5.4 ACRES TOTAL
3.82 ACRES
ZONED DT NEIGHBORHOOD DISTRICT
±235,100 SF TOTAL
5.4 ACRES TOTAL
0’
±410’
±410’
±66,100 SF TOTAL
1.52 ACRES
’
90
±94,300 SF
±58’
±1
±290’
ZONED DOWNTOWN NEIGHBORHOOD DISTRICT
±235,100 SF TOTAL
ZONED TRANSITION
DISTRICT
5.4 ACRES
TOTAL
±232’
ZONED DOWNTOWN
NEIGHBORHOOD
DISTRICT
BLOCK
O
±232’
’
’
90
±1
’
90
±1
±72,100 SF ±94,300 SF
91
±472’
±1
±472’
±230’
’
’
91
±1
’
±31,000 SF
±37,700 SF
91
±37,700 SF
91
±31,000 SF
±68,700 SF
1.58 ACRES
Buyers interested
in Block O have the
±68,700 SF ZONED TRANSITION DISTRICT
option
to
purchase
the NEIGHBORHOOD
entire ±398’
parcel,
DISTRICT
1.58 ACRES ZONED DOWNTOWN
ZONED TRANSITION DISTRICT
totaling approximately 235,100 square
ZONED
TRANSITION
DISTRICT
±37,700
ZONEDSF
DOWNTOWN NEIGHBORHOOD DISTRICT
feet, or alternatively can purchase either
±472’
±31,000
SF
ZONED DOWNTOWN NEIGHBORHOOD
DISTRICT
±37,700 SF
the northern parcel, north of NE 185th
Street (totaling
±500’ 68,700 square feet),
or the southern±472’
parcel,
±500’
south of NE 185th Street
±500’
(totaling 166,400 square
±72,100 SF
feet).
±68,700 SF
±31,000 SF
1.58 ACRES
±1
±285’
±398’
±1
±188’
BLOCK N
Block O offers the unique opportunity to develop fully assembled parcels totaling
5.40 acres. This site is located on the northwest corner of Bothell Landing.
It has fantastic street front exposure along 98th Ave NE and stretches to the
West for a neighborhood feel of 96th Ave NE. The assemblage is bisected by
±398’
NE 185th Street giving it great
street exposure on several prime corners.
INTRODUCTION TO DOWNTOWN REVITALIZATION
Bothell is a suburb of Seattle, located at the northern end of Lake Washington.
It is a city with high-tech employers, single-family neighborhoods and a
vibrant mixed-use downtown that is the focus of the largest municipally-led
redevelopment in the state of Washington.
The City has been engaged in the Downtown revitalization since 2005, with
the goal to develop a pedestrian-friendly Downtown that is a destination and
gathering place for residents, employees and visitors. The revitalized Downtown,
called Bothell Landing, is envisioned to reflect the authentic character, diverse
people and history of the 105-year old city. To ensure this revitalization occurs,
Bothell:
»
Has invested more than $100 million in public infrastructure improvements to
date.
»
Plans to invest an additional $42 million to create new open space, enhance
the overall experience of downtown and to prepare for additional development.
Multiple new developments with a combined value of over $250 million are
already underway or have recently been delivered. An additional $400 million in
private development is anticipated to be completed over a 25 year period. Since
2010 , 261 Downtown rooftops that house individuals and families have been
completed and leased. On October 1, 2014, 203 new rooftops began lease-up
with 40% absorption in the first 30 days. With 600 more rooftops in different
phases of planning and development, Bothell Landing continues to grow to meet
the diverse needs of incoming students, individuals, families, and seniors. A
notable change from 2005 when Bothell Landing housing was limited.
As Bothell nears the 10-year mark in the revitalization effort, it is clear that
the City remains committed to the downtown redevelopment: infrastructure
projects have completed, private developments have been delivered and
additional investment is occurring.
In 2005, the City of Bothell developed
The assemblage has allowed for
a plan and a financial structure
the realignment of roadways, the
to
redevelopment
development and enhancement of
of the community’s Downtown.
municipal facilities including parks
Bothell citizens were tremendous
and open space, and the simplicity
supporters of this effort as they
of redevelopment. Upon completing
desire a connected, active and
the assemblage, the City took
vibrant Downtown. The City team
an additional step to complete
worked with the community to
an
develop a plan that would highlight
Impact Statement (EIS) allowing
and engage the character of 105-
developers to streamline the pre-
year old Main Street in the heart
development process.
support
the
of downtown while looking to the
future. As such, the City assembled
25 acres of land adjacent to Main
Street.
area-wide
Environmental
SEATTLE
DOWNTOWN
BELLEVUE
MAGNUSON
PARK
LAKE
WASHINGTON
KIRKLAND
TOTEM LAKE
INGLEMOOR
HIGH SCHOOL
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Quality Food Centers
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NE
NORTHSHORE
JUNIOR HIGH
WAYNE PUBLIC GOLF COURSE
BU
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BLYTHE
PARK
K
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BOTHELL
HIGH SCHOOL
522
AN TRAIL
BUR
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522
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TRAIL
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12
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AV
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PARK AT
BOTHELL
LANDING
BOTHELL
LIBRARY
522
BOTHELL CAMPUS
POP KEENEY
STADIUM
BOTHELL
LANDING
Quality Food Centers
BO
TH
EL
L
EV
ER
Rob Larsen
NORMAN PARTNERS
Princpal
direct 206 447 0318
mobile 206 235 5588
rlarsen@norman-partners.com
Dylan Simon
COLLIERS INTERNATIONAL
Investment Sales
direct 206 624 7413
mobile 206 414 8575
dylan.simon@colliers.com
Dan McGinnis
CBRE
First Vice President
direct 206 292 6092
mobile 206 949 8497
dan.mcginnis@cbre.com
ET
T
HW
Y
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