January 5, 2024

Nearing completion near station, 35 Shoreline units toe the TOD market

Photo via West Coast Commercial Realty [enlarge]

WZL is selling its north building, while it begins on the south companion project.

Nearing completion a few steps from the future Shoreline South/148th Station is the first of two companion apartment projects.

What the developer has dubbed Paramount I, the north project at 304 N.E. 152nd St., is nearly complete. That's to have seven stories and 35 units, and West Coast Commercial Realty just put it on the market, unpriced. The individual brokers are Charlie Rowe and Edson Gallaudet.

Sound Transit hopes to opens the station by the end of this year, linking Lynnwood and Angle Lake. From the dead end of 152nd, where both Paramount sites are located, it'll be about eight minutes south by foot. The north building is to have 20 parking stalls on two levels, both structured and partly below grade. Two will feature EV charging.

Units are all one-bedrooms that average around 569 square feet, per this this week's listing. Seven will be affordable to households earning 70% of area median income, per the city of Shoreline's multifamily tax exemption program. Developer WZL Enterprises LLC is employing the city's 20-year MFTE program.

CDK Construction Services is now finishing the 39,561-square-foot project, which was designed by Strata Architects.

South across the street at 305 152nd, it now appears that CDK has begun work — or at least demolition and groundwork — on the seven-story, 110-unit Paramount II. That was designed by Pelletier + Schaar.

Selling the north project may help the larger south project, for which Kitsap Bank recently provided a small construction loan. That project also includes 90 structured parking stalls.

WZL is based in Mukilteo and led by Marc Wislen.