REAL ESTATE

Many childhood memories were made at the family amusement center at 220th Street Southwest and Highway 99, but the area is now designated for an eco-friendly compilation of 405 luxury apartments, personal storage and ground-level commercial space known as Edmonds Village. Located on the border of Edmonds and Mountlake Terrace,...

The City of Poulsbo only covers four and a half square miles, but its population continues to grow, demonstrated by an updated sign at city limits along Highway 3 now reads more than 13,000 residents. And so does its demand for more housing. The city is anticipated to need nearly 2,000 more housing units over the next 20 years, so the Ppulsbo City Council is looking to beef up residential development in some of its commercial...

Uptown Queen Anne Apartments, a mid-rise apartment building with 60 units and two commercial spaces located at 315 1st Avenue W. in Seattle, has sold for $19.9 million. Jerrid Anderson and Winslow Lee of the Simon and Anderson team, a multifamily investment team based at Kidder Mathews’ Seattle headquarters, represented the seller in this off-market transaction. The seller was the original developer of the property and had owned the building since 2001.

The Seattle Office of Housing is currently opening its doors to applicants interested in solving the city's housing issues, with a significant $112 million on the table earmarked for the development and preservation of affordable rental homes. This funding initiative, part of the 2024 Notice of Funding Availability (NOFA), is designed to confront the challenge of displacement head-on and to improve access to housing for those on the streets, among other key objectives. According to the detailed announcement available on the Office of Housing's website, the city’s objectives include creating a diverse array of affordable rentals for different income levels and household sizes.

Part of a mixed-use project in Woodinville has traded hands, according to King County property records. Toll Brothers purchased nearly two-thirds of an acre of land at 13300 NE 175th St. for $29 million from an entity affiliated with MainStreet Property Group. MainStreet along with HAL Real Estate Investments is the developer for the Eastrail project, where the property is located.

King County residents can now live, work, play, stay and shop at Northgate Station. SEATTLE – Simon®, a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations, today announced the addition of new luxury residential units as the latest phase of its multi-stage development project at Northgate Station. This project further expands the property into a world-class, lifestyle destination, and highlights Simon’s investment to enhance the overall experience at Northgate Station. To help celebrate this new vision, Northgate Station is hosting a groundbreaking celebration on Thursday, July 11 at 11a.m.

(WSB photo of 16th/Holden site, April) Three weeks have passed since the deadline for proposals to develop the 9,425-square-foot ex-substation site on the southwest corner of 16th and Holden into a mixed-use building with “affordable homeownership” units. The city Office of Housing was seeking proposals for building ~16 for-sale residential units over commercial space at the site, and tells WSB that it received two proposals. They’re not commenting on who the proposals are from, but plan to choose a winner “in August.” This was one of half a dozen area ex-substation sites declared “surplus” by Seattle City Light more than a decade ago; after years of discussion and community advocacy, SCL transferred it to the Office of Housing to get this project off the ground Housing paid the site’s current valuation, $424,000, to SCL, using funding from Mandatory Housing Affordability fees paid by developers in lieu of including affordable housing in their own projects. The units in the eventual project, according to the city, “must be affordable to households with incomes at or below 80% of Area Median Income (AMI) for the Seattle area,” taking into account “a 5% down payment, a monthly payment for housing costs (mortgage principal, interest, taxes, insurance, and other dues) of not more than 35% of income, a household size of one more person than number of bedrooms, and a realistic mortgage interest rate.” Assuming this plan proceeds to fruition, this will be only the second of those six surplus ex-substations to be developed into housing, after these “tiny townhomes” on Pigeon Point.