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Real Estate

Brian Miller
Real Estate Editor
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May 6, 2021

On the Block: With $20M land buy, Shea plants the first TOD flag near Shoreline South station

In 15 related deals, Shea Properties of California has spent over $20.3 million to assemble a roughly 2.8-acre development site a little west of the future Shoreline South/148th Station, where light rail service is expected to begin in 2024.

Shea applied last month to the city of Shoreline for a multifamily tax exemption (MFTE), which the city has conditionally approved, for an unnamed 482-unit apartment project. (Thus, a certain number of units will be affordable.) The project address appears to be 103 N.E. 147th St., on the corner of First Avenue Northeast. The property is zoned up to 70 feet, meaning midrise construction with a likely seven stories. No architect is indicated yet in city records.

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