Home AEC Intracorp Buys University Trailer Park in Seattle for $9.7MM

Intracorp Buys University Trailer Park in Seattle for $9.7MM

University Trailer Park, Ravenna, King County, Intracorp, Seattle, Ravenna North Townhouse Development, NK Architect, Landscape Design Group Inc., Avid Townhomes, Bellevue
Image courtesy of NK Architects

By Jack Stubbs

University Trailer Park, located just north of Seattle’s Ravenna neighborhood, was sold for nearly $9.7 million on August 31st, according to public records filed with King County. The buyer was Intracorp, a Seattle-based real estate developer. The seller was Kenmore-based UTP LLC, an entity affiliated with Franklin Warren Evans.

The site’s address is 2200 NE 88th St., at the southeast corner of Lake City Way NE and NE 88th St. The site area is comprised of 157,639 square feet. The property is just minutes from access to State Route 522.

Until recently, the site was used as a mobile trailer home park. However, the site is about to undergo a major transformation. In early March of this year, a second Design Review Board meeting was held to discuss proposed development plans for the property. Earlier this year on July 26th, permits were issued for the continued redevelopment of the site.

With the purchase of the site, Intracorp is proposing to repurpose it. The submission for the project—called Ravenna North Townhouse Development—is looking to demolish the existing structures, consisting of one recreational building and 75 mobile homes. The plans called for the construction of eighteen structures containing 87 residential townhouse units, with an additional 115 parking stalls for residents. All told, the residential units will cover an area of roughly 134,000 square feet. The proposed design also included a central landscaped amenity area.

The ultimate development objective, according to the proposal submitted at the second Design Review Board meeting on March 6th, was to provide “a community of attractive, owner-occupied townhouse that … results in a project that enhances the neighborhood while respecting its neighbors.” The architect for the project was NK Architect and the landscape architect was Landscape Design Group Inc.

Intracorp focuses on real estate acquisition and development in California, Hawaii, and throughout the Northwest. Some of the company’s current for-sale properties in the Puget Sound region include Revel, a 21-town home property in Seattle; Lakehouse, a 41-unit residential property in Newcastle; and Avid Townhomes, a project located in Bellevue.

Neither the applicant nor the architects responded for comment about the details of the redevelopment.