Investment Opportunity

Paragon Real Estate Advisors is pleased to exclusively offer for sale the 155th Street Light Rail Development Site. The assemblage consists of 5 parcels totaling 34,508 square feet of MUR-45 zoned land. Preliminary reports suggest this site can accommodate approximately 25 townhouses.
The close proximity to the proposed 145th Street Light Rail Station makes this location attractive to many future developments.

The city of Shoreline has been experiencing job growth of 1.69% yearly with a projected 38% growth for the next ten years. The Light Rail Expansion projected for completion in 2023 will bring with it economic development and rapid growth in population as businesses, jobs and industries flock to the area.

Offering Summary

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Transportation

The Northgate Link Extension will connect the Northgate, Roosevelt and U District neighborhoods to downtown Seattle and the airport The elevated Northgate Station will be located east of 1st Ave NE, spanning NE 103rd Street. Station entrances will be on the Northgate Mall property north of NE 103rd Street and near the Northgate Transit Center
south of NE 103rd Street. Construction is currently underway and this station is slated to open in 2021.

The Sound Transit Lynnwood Link Extension Light Rail Project will give riders a fast, frequent and reliable connection through some of the worst traffic congestion in Washington State. This extension builds four new light rail stations from Northgate to Lynnwood along the Interstate-5 corridor, two of which will be located in Shoreline, one at 145th Street and the other at 185th Street. These stations will provide access to the Northgate Mall, bus transfers at the transit center, adjacent park-and-ride facilities, North Seattle Community College and nearby homes and businesses.

Sound Transit anticipates the project starting construction in 2018 and opening for service in 2023 with daily projections estimating between 63,000 and 74,000 riders each weekday by the year 2035. With trains arriving every 4 to 5 minutes riders can expect a 16 minute commute from the station at 145th and downtown Seattle. These transit times will save approximately 14 - 16 min during peak morning commute times.

Location

Shoreline is Seattle’s closest neighbor to the North. In fact, the two are basically grown together with no physical or geographical barrier in between. For that reason, Shoreline is appealing for commuters and anyone who wants to claim “North Seattle” as their home.

Shoreline boasts a unique history and character derived from original settlements dating back to the late 1800s. The quality that drew early settlers to the area remains dominant to this day: location. The City of Shoreline offers classic Puget Sound beauty and the convenience of suburban living with the attractions of nearby urban opportunities.

From breathtaking views of Puget Sound to tennis, indoor swimming, to nature trails and beach access to skateboarding, Shoreline’s more than 400 acres of park land and open space offer a variety of enriching recreation and outdoor experiences. The city recently invested $18.5 million to improve its parks, which include saltwater shoreline, a botanical garden, an interurban trail and hiking trails, and newly improved athletic fields, courts and playgrounds.

Shoreline shares its south border with Seattle and downtown Seattle is approximately 9 miles away. Public transportation is readily available and easy to access. Metro Transit, Community Transit and Sound Transit all provide services to the surrounding communities and to the central business district.