Description
Nearly 1 acre multifamily site in the Samish Way Urban Village zoned high density multifamily. This is a Designated Opportunity Zone location that has full abatement of property taxes associated with any multifamily building for 8 years, taxes remain payable on land and commercial improvements only. A 12-year abatement could be earned if 20% of the units are designated permanently affordable. Bellingham has additional B&O Tax exemptions and traffic impact credits for development of this property. Potential for up to 100 2-bed units or mix of units with floor area potential up to 107,810 sq ft. 3 tax parcels, one 12,632 sq ft and one 30,492 sq ft parcel. Explosive growth area of 5-7 story buildings with continued low vacancy. Close to WWU.
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0BEDS
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0.99ACRES
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0BATHS
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01/2 BATHS
School Information
Listing Courtesy of Pacific Continental Realty Llc.Description
Nearly 1 acre multifamily site in the Samish Way Urban Village zoned high density multifamily. This is a Designated Opportunity Zone location that has full abatement of property taxes associated with any multifamily building for 8 years, taxes remain payable on land and commercial improvements only. A 12-year abatement could be earned if 20% of the units are designated permanently affordable. Bellingham has additional B&O Tax exemptions and traffic impact credits for development of this property. Potential for up to 100 2-bed units or mix of units with floor area potential up to 107,810 sq ft. 3 tax parcels, one 12,632 sq ft and one 30,492 sq ft parcel. Explosive growth area of 5-7 story buildings with continued low vacancy. Close to WWU.
The listing data relating to real estate for sale on this web site comes in part from the Northwest Multiple Listing Service. Real estate listings held by brokerage firms other than Engel & Völkers Federal Way are marked by the "three tree" symbol; detailed information about such listings includes the names of the listing brokers. Data last updated 2022-05-27T00:17:00.357.