Home AEC Seattle Retail Property Purchased for $14.1MM, Site to be Redeveloped With Apartment...

Seattle Retail Property Purchased for $14.1MM, Site to be Redeveloped With Apartment Complex

Display & Costume, Seattle, NG 295 Development LLC, King County, 11201 Roosevelt Way Apartments, Studio Meng Strazzarra, Northgate, Northgate Link, Northgate Pointe, Vista Apartments, Park at Northgate, McGuire Court Apartments

By Catherine Sweeney

The site of a former costume supply store, Display & Costume, in Seattle will soon be converted into a 302,100 square-foot multifamily building, after it was recently acquired by an entity associated with Intracorp Homes, a residential developer based out of Vancouver. According to King County public records, the building was sold to the developer for $14.1 million by the supplier’s namesake company. 

Located at 11201 Roosevelt Way Northeast, the recently acquired property is a 32,009 square-foot warehouse and storefront. However, after the recent acquisition, the storefront will be demolished and a mixed-use building will take its place on the 69,696 square-foot plot of land. 

Once complete, the five-story building will offer up to 300 residential units, including studios, one-, and two-bedroom units. Additionally, the building will include up to seven communal working spaces, open space amenities and up to 215 structured parking stalls. 

“Helping to transform this largely commercial streetscape into a bustling neighborhood, a positive and safe pedestrian experience is the design goal at the street level. Residents above will serve as an extra layer of ‘lights on’ security to the pedestrians on Roosevelt Way NE. Aiding this goal, the project incorporates significant outdoor plaza spaces along the perimeter and at the streetscape, encouraging resident gathering and increasing visibility,” Studio Meng Strazzara, the architecture firm facilitating project designs, states on its website. 

The property is located in Seattle’s Northgate neighborhood, and is within walking distance to many shopping, dining and entertainment opportunities. Other residential properties, including Northgate Pointe, Vista Apartments, Park at Northgate, McGuire Court Apartments as well as many others. The Northgate Link light rail extension is also just one mile away from the site, giving potential tenants of the new residential building easy access to downtown Seattle.