SR 522 and Bothell Way NE is One of Bothell’s Largest Development Sites

Bothell has made a significant step toward achieving its downtown redevelopment plan. Texas-based Trammell Crow Residential and the city recently completed the sale of a key downtown development site located at the intersection of State Route 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. Bothell received multiple offers for the 2.6-acre property, with Trammell Crow submitting the winning bid of $12.75 million or $112 per square foot (land). As one of the city’s largest development sites, this sale helped set the bar for land value in downtown Bothell.

Last month, the city closed the sale of another prominent site that is part of the redevelopment plan. Imagine Housing purchased a 38,856-square-foot property located at NE 180th St. between State Route 522 and the Sammamish River, where it will soon start construction of a 76-unit affordable housing project.

Kidder Mathews’ Ross Klinger, Blair Howe and Susan Zimmerman represented Bothell in both transactions.