Overview
NAREIG International Realty, as the exclusive advisor, is pleased to present a rare opportunity to acquire a 9,878 square foot multifamily high-rise development site located in Seattle’s premier South Lake Union submarket. A Master User Permit (MUP) was previously secured for the development of a 312-unit residential tower with ground-floor retail, known as 8 Tower. The permit has since expired and is subject to reactivation. The approved design envisions a 45-story structure (including 42 residential floors) with three levels of below-grade parking, accommodating 72 vehicle stalls and 103 bicycle stalls.
Investment Highlights
Identical Site Geometry:
Both 8 Tower and Spire are positioned on rare triangular urban parcels, enabling highly efficient tower massing and optimized unit layouts
Comparable Scale & Density:
The two sites share nearly identical lot size and development capacity, supporting high-rise projects with similar height, density, and parking configurations
Same Demand Drivers:
Both projects benefit from the same core demand base, driven by proximity to Amazon, major tech employers, and Seattle’s’ most dynamic urban environment
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