AvalonBay Purchases University District Apartment Site
October 6, 2011
Last week, AvalonBay Communities, Inc closed on a transaction to purchase a 1.3 acre site in the University District
neighborhood of Seattle. This site lies southwest of 12th Ave NE and NE 47th, near the planned Brooklyn Light Rail station.
The purchase price was $12,000,000 and zoning is NC3-85, allowing for an 85' height limit.
AvalonBay is a prolific developer of quality apartment communities throughout the United States, who own hundreds of
apartment communities totaling over 50,000 apartment units. This University District project will contain 284 apartment units
and 11,700 square feet of retail space. AvalonBay expects to break ground in 2012.
The selling broker on this transaction was James Tjoa of RE/MAX Commercial.