Description

JLL has been exclusively retained for the sale of 2600 Elliott Avenue (the "Property" or "Site"), a 28,800 square-foot (0.66 acre) development opportunity in the heart of Seattle's Belltown neighborhood. Zoned DMR/C-145/75, the site presents a unique opportunity for multi-family or mixed-use development in one of Seattle's most dynamic urban neighborhoods. Seattle's recently approved Housing Opportunities Program includes a temporary three-year rezone for Belltown that increases height limits by 100 feet in DMR zones, creating enhanced development potential as the city works toward a permanent Downtown Subarea Plan.

The adjacent property at 2601 Elliott Avenue has been designated as a Seattle landmark, ensuring that no future development can obstruct sightlines, permanently protecting views for top-floor units at 2600 Elliott Avenue. This landmark designation provides a rare and valuable amenity that enhances the long-term desirability and marketability of upper-level residences. 2601 Elliott and 2600 Elliott currently share some common ownership. In addition, the Property is currently improved with an existing parking garage which generates approximately $16.5K in revenues per month for ownership. Please refer to the virtual deal room for additional information on parking garage economics.

The Site's prime location provides residents with walkable access to a diverse employer ecosystem and positions them within a 20-minute commute to the Eastside's largest employment drivers. Future residents will benefit from Belltown's amenity-rich environment, with abundant entertainment, dining, and retail establishments immediately surrounding the Property. Its proximity to regional thoroughfares including Elliott Avenue, SR-99, and I-5 seamlessly connects the Property to the broader Puget Sound region, while the neighborhood's strong demographic profile underscores sustained demand for quality housing in this urban core location.

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