Downtown Commercial Zoning Opportunity for Re-development

Offered at $2,850,000

 

7228 NE Bothell Way Kenmore, WA  98028

 

 

- Unique opportunity to develop prime mixed-use property to it’s highest and best use by taking advantage of downtown commercial zoning.

 

- Currently property has 6 units (2 commercial, 4 residential) and a billboard all of which are rented on short terms leases.

 

- Level rectangle shaped lot offers for flexible site plan.

 

- Build up to 65’ high.

 

- Close to Lake Washington Waterfront.

 

- Great exposure off of Bothell Way located between I-5 and 405 with access to both the east and west sides of the greater Seattle area.

 

- No critical areas mapped or known of

 

- Base density: 25 units; minimum density: 19 units; maximum density: 38 units (KMC 18.80 – residential density incentives required)

- Permitted, conditionally permitted and prohibited uses are described in Table A of KMC 18.25.020

 

- Multi-family projects (i.e. apartments, townhomes) require that 80% of a structure’s street front facade at street level shall be occupied by nonresidential uses. If the nonresidential and residential uses are located in separate structures, the 80 percent requirement shall apply to the lot’s lineal street frontage at street level. The required nonresidential use shall extend at least 30 feet in depth at street level from the street front facade of the structure; provided, that the minimum required depth may be averaged, with no depth less than 15 feet. KMC 18.25.020 Table A Footnote 9.

 

- Base height: 35 feet

 

- Maximum height: 65 feet (Applicable to mixed use developments containing residential dwellings at a minimum 50 percent of square footage to a maximum of 75 percent square footage; or to developments achieving density bonus; or to developments providing structured parking)

 

- Maximum impervious surface: 90%

 

- Street setback (from SR522): 0 – 10 feet, depending on building design/design review requirements KMC 18.52.

 

- Interior setbacks: 0 feet.