1145 Market is an opportunity for a developer to purchase an MUP approved project to break ground in 2022 in a core location surrounded by institutionally owned apartments, major employers, and walkable amenities.

Market Street is the main East-West thoroughfare through Ballard and the entry point to one of Seattle’s most amenity-rich neighborhoods. From the building’s entrance, tenants can walk to hundreds of amenities including, world-class restaurants, bustling coffee shops, and a variety of nightlife establishments.

Transportation in and out of Ballard is convenient, with nine bus routes within a half mile of 1145 Market, including the Rapid Ride D Line providing express transit to major job and amenity centers in Fremont, South Lake Union, Downtown, and Pioneer Square.

In addition to food and drink, Ballard offers thousands of jobs, great parks, including Golden Gardens and the Ballard Locks, and a handful of marinas which offer water access for transit, fishing, or cruising. University of Washington, and its 60,000 plus students and faculty, is three miles east and easily accessed via bike, bus, or car.

The planned unit mix for 1145 Market is ideal, with one and two bedroom units and an average unit size of 720 square feet.

Units will be spacious with large windows and 8’6” high ceilings, making the units feel even bigger than their larger-than-average size. Amenities in the community include ample bike parking, sizeable fitness center, and generous rooftop deck with BBQs and seating. Both the rooftop deck and many upper floor units will offer abundant sun exposure and territorial views to the south and west. A secured garage will provide parking for 73 cars.

Rents in Ballard have recovered incredibly well over the past six months, with the average monthly rent up $165 to $1,837.

Concurrently, the value for institutional grade apartment investments has skyrocketed as investors began to pour money into well-located assets around Q3 of 2021. Large, recent sales in the region have seen value exceed $700,000 per unit and $800 per square foot. Demand for new housing and investment opportunities remain incredibly high with a lack of available supply. 1145 Market could be the first institutional-grade apartment community to break ground in 2022.