The City of Bothell has made a significant step toward fully achieving its downtown redevelopment plan. The City of Bothell and Trammell Crow Residential have just completed the sale of a key downtown development site, Block D, located at the intersection of SR 522 and Bothell Way NE.
Trammell Crow will soon begin construction of a mixed-use building featuring 369 market rate apartment units and 9,800 square feet of ground floor retail space. The City received multiple offers for the 2.6-acre property, with Trammell Crow submitting the winning bid of $12.75 million dollars or $112 per square foot of land area.
“Trammell Crow is excited about its part in making the City’s downtown plan a reality. Our project design reflects the downtown plan vision; it responds to the surrounding uses, promotes street level activities, and makes a statement at the gateway to the downtown,” said Mark Hoyt, Trammell Crow Residential Project Manager.
Last month, the City closed the sale of another prominent development site that is part of its downtown redevelopment plan. Imagine Housing purchased a 38,856 square foot acre property located at NE 180th Street between SR 522 and the Sammamish River, where it will soon be starting construction of a 76 unit affordable housing project.
“The completion of the two projects represent important progress for the City and we are looking forward to the added vitality they will bring to our downtown,” said Liam Olsen, City of Bothell Mayor. “I especially appreciate city staff and Trammell Crow working together on Block D to achieve the vision for downtown, including gateway treatments and a unique use of art to address a code requirement.”
Ross Klinger, Blair Howe, and Susan Zimmerman of Kidder Mathews represented the City in the transactions.
For questions, contact Jeanie Ashe, City of Bothell Economic Development Manager, email@example.com.