North Queen Anne (the “Property” or the “Site”) is a rare development opportunity of two contiguous sites (“North Block” and “South Block”), located in the prestigious Queen Anne neighborhood and adjacent to the Fremont Cut. The North Block is zoned MIO-37-C2-55 (M) and is conditionally approved for multifamily development while the South Block is zoned MIO-37-NC2-55 permitting multifamily as a primary use. The two Sites consist of fourteen parcels covering approximately 3 acres and a feasibility study completed by Weber Thompson projects approximately 211 units on the North Block and 264 units on the South Block. There is the option to acquire approximately 1.34 acres in addition to the north of the North Block which can be utilized as surface or structured parking for the multifamily projects and preserve stunning water views of the Fremont Cut. Future residents at North Queen Anne Site will be within a 10-minute commute of South Lake Union, Seattle’s tech and life science hub, which is home to tech giants such as Amazon, Apple, Meta, and Google along with an equally prominent cluster of life science occupiers including UW Medicine, Fred Hutch Cancer Research Center and the Allen Institute for Brain Science. Queen Anne is Seattle’s premier residential community, providing 360-degree living with immediate access to outdoor recreation, lifestyle amenities and major employers. The premier live/work/play urban area is home to some of Seattle’s best restaurants, breweries, and parks. This high-end neighborhood projects for considerable future demand thanks to easy access to major employment hubs in Seattle and the Eastside, plentiful public transit options, high market occupancy, and unparalleled lifestyle and recreation opportunities. With no projects currently under construction in the surrounding area, the Property is well situated to benefit from Queen Anne’s lack of upcoming supply.