Report on

Historic Buildings Transfer of Development Right (TDR) Programs

Developed in response to Resolution 31772

June 19, 2018

This report outlines options for updating the Transfer of Development Right (TDR) program for historic buildings, in response to Resolution 31722. Transferring development rights from historic buildings is one way that new development can earn extra floor area through Incentive Zoning. Resolution 31772, which was a companion to the 2017 Uptown Rezone legislation, stated that:

"OPCD and DON should study TDR programs for historic landmarks and identify options for improving the overall dynamic of the landmark TDR market to ensure that the program functions to both preserve existing landmarks and provide a true economic incentive for owners of landmarked properties. The report should (1) identify and inventory landmark TDR sending and receiving sites, (2) identify regulatory and policy barriers to the transfer of development rights from landmark structures, and (3) analyze and make recommendations on options for improving the landmark TDR market, including, but not limited to, modifying boundaries for sending and receiving sites, allowing limited transfers between areas, and further capitalizing the TDR bank."

The analysis in this report was developed as part of the City's efforts to update the Incentive Zoning program. It is anticipated that this effort will result in legislation including proposed changes to the Historic Property TDR program that Council would consider in mid-2019. More information on the update is available at www.seattle.gov/opcd/ongoing-initiatives/incentive-zoning-update.

BACKGROUND

Incentive zoning allows new development in certain areas to voluntarily achieve extra floor area by providing certain public benefits. Incentive Zoning is one way that the City ensures that new development contributes to infrastructure investments in growing neighborhoods. Depending on the neighborhood and zone, development using incentive zoning may provide amenities such as open space and Green Street improvements or may transfer development rights from historic buildings, unreinforced masonry buildings, or open space. Transfers of development rights between property owners of historic buildings (the "sending site") and property owners of development sites (the "receiving site") are private transactions. The purpose of historic building TDR is to:

1. support long-term preservation of these structures to support the character of a neighborhood that is experiencing growth.

2. enable the sale of unused development rights so that proceeds from the sale can support rehabilitation or maintenance.

Incentive zoning programs with the option of purchasing TDR from historic buildings exist in portions of Downtown, University District, and Uptown. First Hill currently has an incentive zoning program that allows development to achieve all its extra floor area by contributing to affordable housing with an option to achieve some extra floor area by acquiring TDR. The current proposal to implement Mandatory Housing Affordability in First Hill would convert that program into a Mandatory Housing Affordability requirement and the option to purchase TDR would be removed.

TDR can only be sent and received within each neighborhood. This approach was taken to ensure that the incentive zoning provides public benefits in the areas that are experiencing growth and to prevent TDRs from flowing disproportionately from higher-cost areas to lower-cost areas. A map showing the sending and receiving sites of the Downtown, University District, and Uptown markets are shown in Appendix A.

Currently, there are two types of development rights for historic buildings with different standards:

Transferable Development Rights (TDR): TDR can only be transferred to a commercial development. Transferring TDR reduces the capacity of the sending site to build commercial, but not residential, floor area

Transferable Development Potential (TDP): TDP can only be transferred to residential projects. Since most residential projects in Downtown can't achieve extra floor area through Incentive Zoning there is limited areas where TDP can be used. Transferring TDP reduces the capacity of the sending site to build commercial and residential floor area

TDR and TDP have different rules for how to calculate the amount of floor area that can be transferred. Additionally, there are complex set of rules about which zones can send and receive TDR and TDP. The consequence of this complexity is that it is very difficult for property owners to understand the value of their development rights and for buyers and sellers to find each other. For this document, TDR is used to refer to both TDR and TDP.

There are also two types of TDR for historic buildings:

Landmark TDR: Properties that have been designated as landmarks through the City's nomination and designation process may send Landmark TDR.

South Downtown Historic TDR: Properties located in Pioneer Square and Chinatown/International District Special Review Districts that are determined to be contributing structures through recommendation by the Boards to the DON Director are eligible to send South Downtown Historic TDR. No South Downtown Historic TDR has been transferred to date.

For this document, Historic Building TDR is used to refer to Landmark and South Downtown Historic TDR.

INVENTORY

Currently, there are 238 potentially eligible sending sites in Downtown, 8 potentially eligible sending sites in University District, and 10 potentially eligible sending sites in Uptown. Of these sites, there are 14 sites in Downtown that have transferred some or all their TDR since the program began in the 1980s. No TDR has been transferred in the University District or Uptown. A full summary of potentially eligible sites is provided in Appendix B. In addition to eligible sites for historic buildings, there are also 23 potentially eligible sending sites for vulnerable masonry structures in the University District and 14 potentially eligible sending sites for vulnerable masonry structures in Uptown.

TDR TRANSFERS TO DATE

Because the University District and Uptown programs were only launched in 2017, there are no projects with issued permits that have used incentive zoning in those neighborhoods.

In Downtown, the TDR program generally has been relatively well used. Almost all buildings that are eligible to use incentive zoning are have used it. Since 2004, 74% of extra floor area achieved through incentive zoning has been achieved through use of TDR. Of the total floor area achieved through TDR, 36% was achieved through Landmark TDR. Below is a summary of the how all extra floor area has been achieved in Downtown since 2004.

By Square Footage Earned By Number of Projects

Square Feet Percentage Number Percentage

Open Space 297,880 12% 4 15%

Green Street 162,752 6% 4 15%

All TDR 1,892,713 75% 23 88%

Landmark TDR 552,978 22% 4 15%

Housing TDR 345,755 14% 9 35%

Open Space TDR 148,631 6% 3 12%

LPAT TDR 72,816 3% 2 8%

MPAF TDR 279,692 11% 8 31%

Regional TDR 316,653 13% 12 46%

In-Block TDR 176,188 7% 2 8%

Human Services Use 25,739 1% 1 4%

Other Amenity 67968 3% 2 8%

TOTAL 2,515,020 26

Since the beginning of the program in 1980s, there have been 14 Landmark buildings that have transferred some or all their TDR.

REGULATORY AND POLICY BARRIERS

TDR programs are by their nature complicated and challenging to administer. However, it is important to reduce these limitations wherever possible. Below is a summary of the major barriers to increasing Historic Building TDR transfers found as part of analysis conducted to inform the Incentive Zoning Update:

1. Limited demand of extra floor area: The largest limitation to increasing TDR transfers is the limited demand for extra floor area that is expected. Even if 75% of extra floor area achieved through Incentive Zoning is achieved through Historic Building TDR over the next twenty years, it is estimated that this would only allow transfers from less than 1/8th of potentially eligible sites. It is likely that a much smaller portion of potentially eligible sites in the University District and Uptown would be able to sell TDR in the same period.

2. Competing incentive zoning benefits: Incentive zoning allows new development to choose from a menu of options. While TDR has been by far the most common option, the City has added multiple TDR options over the years including open space TDR, Landmark Performing Arts Theater TDR, Major Performing Arts Theater TDR, Regional TDR, and In-block TDR. The City has also been asked to create a new 2030 Challenge TDR to allow transfer from existing buildings that receive additional development capacity by meeting the 2030 Challenge High Performance Building Pilot.

3. Regulatory complexity: The existing TDR market in Downtown has a very complex set of rules that vary by area and zone are challenging for property owners to understand. There are different rules for selling TDR and TDP. Additionally, there are limitations on where both TDR and TDP may be sent and received. There are no staff that are dedicated to helping property owners understand these complex regulations. Consequently, it is difficult for property owners to understand the potential value and quantity of TDR that they could sell.

4. Lack of matchmaking: The City does not have any resources for helping to connect interested buyers and sellers. Consequently, it is also difficult for property owners to understand who they could sell to and start to gauge interest and price.

5. Timing of transfers: TDR transfers only work if sending sites are ready to sell their TDR at the same time that a new development is willing to buy it. Since new developments need to acquire the TDR after they are fairly certain their project will work but before they submit their building permit, it can sometimes be challenging to find potential seller and negotiate a transfer within that period. Similarly, many property owners don't want to go through the work of certifying TDR and planning necessary rehabilitation work until they know they can sell their TDR for an established price.

6. Complex property owner structures: Many properties, particularly in the Chinatown/International District, are owned by many parties. Selling TDR in these circumstances requires the approval of a large group of people which can be challenging.

POLICY OPTIONS

The following policy options have been identified as part of Incentive Zoning Update:

Merging TDR and TDP and merging geographic markets

The City is proposing to merge TDR and TDP into one TDR option and to combine multiple geographic markets in Downtown, including South Downtown, so that it is easier to find sellers and buyers. This change will simplify the existing program and make it easier to buy and sell TDR.

As part of this consolidation, the City is also proposing to consolidate the different standards used in different geographic areas as follows:

Replace four different standards for determining how much Historic Building TDR is available on a property with one standard.

Clarify how much development capacity is available on sites that either have no floor area limit or have different floor area limits for residential and commercial structures.

Ensure that the sale of TDR reduces the commercial and residential development capacity of a site (not just the commercial development capacity).

Under the new proposed standard, the amount of Historic Building TDR available to transfer on any site would be equal to the development capacity of the site minus the amount of above-grade floor area on the site and the amount of TDR and TDP previously transferred. Existing floor area in a landmark structure would not be exempt from TDR availability calculation (as is currently the case in most zones outside of South Downtown). Additionally, the maximum amount of Historic Building TDR that could be transferred from any lot would be set at a Floor Area Ratio (FAR) of 5 (i.e. 5 times the square footage of the lot), except that it would be equal to a FAR of 6 if the property meets the 2030 Challenge High Performance Existing Building Pilot Program (discussed in more detail later) or has a covenant that requires more than half of the units to be rent- and income-restricted affordable units. Currently, some zones have a maximum limit on TDR transfers equal to a FAR of 3 and other zones have no limit. Development capacity would be defined as the FAR limit of the zone except that in the following zones where residential capacity is substantially greater than the FAR limit or in which there is no FAR, the following would be used instead:

Zones Proposed FAR for purpose of Historic Building TDR Calculation

55-foot zone

(DH2/55) 4

65 & 75-foot zones

(DH2/75, DMC 75, DMC 85/65-150, DMR/C 65/65-150, DMR/C 65/65-85) 5

85 & 95-foot zones outside South Downtown

(DH2/85, DMC 95, DMR/C 95/75, DMR/R 95/65, DRC 85-170) 6

85 & 95-foot zones in South Downtown and 100, 125, 145, and 150-foot zones

(DMC 145, DMR/C 145/75, DMR/R 145/65, All IDM zones, All IDR zones) 7

170 and 280-foot zones

(DMC 170, DMR/C 280/125, DMR/R 280/65) 8

290 and 300-foot zones

(DMC 240/290-440, DMC 340/290-440, DOC2 500/300-550) 10

450-foot zone

(DOC1 U/450-U) 12

Remove Within-block TDR

Within-block TDR is the only existing TDR option that does necessarily result in the preservation of an existing building. The original intent was to encourage variation in building size; however, it has not been achieving this intent as many properties have sold TDR, which reduces commercial development capacity, and then built a residential building. Additionally, properties that sell within-block TDR can still accommodate very large buildings, so it is not resulting a significant variation in building size. We are proposing to remove it as it has not provided a significant public benefit.

Addressing the 2030 Challenge Pilot

The City has proposed legislation to implement a 2030 Challenge High Performance Existing Building Pilot Program. This legislation would allow up to 20 properties citywide to achieve additional height and floor area if they include a building that has been retrofitted to meet certain green building standards. While some of these buildings will use the additional height and floor area by adding stories to an existing building or building a second building adjacent to the existing buildings, some property owners wouldn't be able to use the capacity in these ways due to structural, use, or site considerations. To allow historic properties that cannot use the additional capacity on-site to use the pilot, we are proposing to allow properties that are already eligible to sell Landmark or South Downtown Historic TDR or TDP to sell additional TDR earned through the 2030 Challenge Pilot. This would be accomplished by:

allowing the additional floor area earned through the pilot to increase the development capacity for purposes of calculating the amount of TDR that can be sold

increasing the maximum amount of TDR that could be sold from a FAR of 5 to 6

The City is not, however, currently proposing to add an additional TDR option to allow transfers from properties that are not landmarked.

This approach would encourage green retrofits of historic structures without create new TDR options that might compete with the Historic Building TDR options.

CAPITALIZING THE CITY'S TDR BANK

As part of the Incentive Zoning Update, the City analyzed the option of providing funding to the City's existing TDR bank in order to make it a more useful tool for supporting the existing TDR market. However, given the high costs and potential financial risks associated with capitalizing the City's TDR bank, staff from OPCD, DON, and CBO currently recommend focusing on the policy options described above instead. Below is a summary of the analysis that was developed to consider this option.

A TDR bank is an entity that buys, holds, and sells TDR to help support a robust TDR market. In Seattle, a TDR bank would specifically purchase TDR from historic properties and sell them to developers that would use them to meet incentive zoning requirements. The City of Seattle currently has a TDR bank, but the bank has such a small amount of assets that it cannot complete any transactions. To create a functioning City TDR bank, the City of Seattle would need to allocate a one-time infusion of cash to purchase TDR and fund some level of additional ongoing staffing to manage transactions.

Benefits of a Bank

A TDR bank would benefit the City by:

Allowing the City to purchase development rights from priority historic structures;

Creating a more "liquid" TDR market by allowing the City to purchase TDR when sellers are ready and ensuring that TDR is always available for purchase;

Discouraging price swings in the TDR market as the City's supply of TDR would help set a standard for pricing; and

Allowing the City to buy and sell small amounts of TDR where property owners have small amounts of TDR left over that can be difficult and time-consuming to sell.

One-time Cost

It is estimated that a viable TDR bank would require a minimum initial investment of at least $5-10M in one-time funds based on the calculations in the following paragraphs; however, additional funds would help improve the usefulness of the bank.

Since 2001, there have been 31 buildings that have sold Landmark or Housing TDR and 28 projects that have purchased Landmark or Housing TDR. For both properties that sold TDR and properties that purchased TDR, the average amount of TDR transferred has been about 45,000 square feet and the largest amounts of TDR transferred have been around 150,000 square feet. During this time, TDR prices have ranged from $15 to $22 per square foot, although it is difficult to get good estimates of TDR prices as many TDR deals include tax-exempt charitable contributions in addition to the direct purchase price. Thus, an average project transfers about $800,000 worth of credits and a large project transfers as much as $2,500,000 in credits. Thus, a one-time infusion of $5 million would be enough to hold TDR from 6 average-sized development projects or 2 very large projects.

Consequently, $5M would allow the bank to work with a couple of sellers or buyers at a time but would mean that as little as two projects could use up all their funds. A $10M fund would greatly enhance their ability to work with multiple projects but would still require some sellers and buyers to look elsewhere during a hot market.

Additional Ongoing Costs

Additional staffing would be needed to manage the TDR bank. This staff capacity would be used to advertise the program, maintain the budget, and work with buyers and sellers to execute deals. Staff time would also help to improve the TDR program generally by answering questions about TDR, tracking sales, monitoring market prices, and providing direct matchmaking between buyers and sellers. We estimate this role would require at least one full-time position.

Additional Challenges

In addition to the cost of capitalizing the bank, there are also significant risk to engaging in the TDR market. In particular, the City could lose money or have a hard time competing if:

The price of TDR dropped while we were holding TDR.

The City has a more difficult time negotiating prices with property owners in comparison to developers.

The City negotiated deals with priority preservation targets that were higher cost than other TDR sites.

If the City ended up with higher cost TDR due to any of the above reasons, it could have a hard time participating in the market at all if developers felt they could get a better deal by going directly to sellers. Given that developers have been successful in negotiating TDR deals privately to date, it is unclear how effectively the City would compete in this market.

Appendix A: Maps of TDR Markets

Sending and Receiving Areas in Downtown Market

Sending and Receiving Areas in University District

Sending and Receiving Areas in Uptown

Appendix B: List of Potential Historic Building TDR Receiving Sites

Potentially Eligible Sites in Pioneer Square Historic District

Historic Register number Name of Historic Building Zone Estimated TDR Available

(SQ FT)

4 Bedford Hotel PSM 100/100-130 11,238

5 Journal Bldg PSM 100/100-130 20,466

6 & 7 Old Post Stn, Seattle Steam Co PSM 100/100-130 57,849

8 Traveler's Hotel PSM 100/100-130 28,800

9 Yesler Hotel PSM 100/100-130 26,082

11 Prudential Bldg PSM 100/100-120 8,566

12 Lowman & Hanford Printing & Binding Bldg PSM 100/100-120 26,442

13 St Charles Hotel PSM 100/100-120 12,609

14 Pacific Coast Co Bldg PSM 100/100-120 11,400

16 O.K. Hotel PSM 100/100-120 24,249

17 Boston Hotel PSM 100/100-120 6,357

19 Our Home Hotel PSM 100/100-120 16,392

20 Oregon & Washington RR & Nav Co. PSM 100/100-120 20,580

22 Schwabacher Warehouse Annex PSM 100/100-120 32,202

27 K & R Bldg / Pioneer Office Equipment PSM 100/100-130 8,988

29 Fischer & MacDonald Wholesale Store PSM 100/100-130 2,996

31 Yesler Bldg PSM 100 5,253

32 Schwabacher Bldg PSM 100 22,155

33 Terry Denny Bldg PSM 100 35,715

34 Maynard Bldg PSM 100 7,008

35 & 36 J&M Hotel PSM 100 20,139

37 Skagit Hotel PSM 100 10,062

38 Marathon Bldg PSM 100 10,065

39 Parker Bldg PSM 100 10,056

40 Branagan-Smith Bldg PSM 100 10,062

41 New England Hotel PSM 100 20,106

42 Matilda Winehill Block PSM 100 13,407

44 Maud Bldg PSM 100 6,690

45 Crown Hotel PSM 100 6,694

46 Squires Bldg PSM 100 30,102

48 Schwabacher Hardware Co Bldg PSM 100/100-120 16,461

49 & 50 Seller Bldg & Hambach Building PSM 100/100-120 6,099

55 Flatiron Bldg PSM 85-120 1,600

57 Scheuerman Block PSM 100/100-130 19,956

58 Lowman Bldg PSM 100/100-130 16,986

60 Howard Bldg PSM 100/100-130 13,959

68 Lippy Bldg PSM 100 16,656

69 City Club Bldg PSM 100 13,320

70 Terry Kittinger Bldg PSM 100 8,880

71 Buttnick Bldg PSM 100 19,980

72 Gottstein Bldg PSM 100 3,330

73 Squire Latimer Block PSM 100 33,290

74 Marshall Walker Block PSM 100 26,640

76 Nord Hotel PSM 100 9,990

77 Seattle Quilt Bldg PSM 100 16,480

78 Capitol Brewing & Malting Co PSM 100 10,086

79 Western Dry Goods / Wax & Raine Bldg PSM 100/100-120 14,994

80 Westland Bldg PSM 100/100-120 13,831

83 Kaufman Warehouse PSM 85-120 7,875

84 Washington Shoe Co Bldg PSM 85-120 13,886

85 Carstens Bros. Cold Storage PSM 85-120 28,524

86 & 87 Bornstein & Sons Warehouse PSM 85-120 32,868

88 Provident Bldg PSM 85-120 8,871

90 Merchant's Caf PSM 100/100-120 5,397

91 & 92 Eagle Caf & Korn Bldg PSM 100/100-120 14,556

93 Frye Market PSM 100/100-120 29,952

95 Scandinavian Hotel & Clancy Bldg PSM 100/100-120 5,100

106 Superior Candy & Cracker Co PSM 100/100-120 8,190

107 Union Trust Bldg PSM 100/100-120 7,339

108 Waltham Block PSM 100/100-120 19,998

109 Crescent Manufacturing Co. PSM 100/100-120 20,145

110 Scientific Supplies PSM 100/100-120 20,673

111 Rautman Plumbing & Heating Co. PSM 100/100-120 24,312

118 Washington Shoe Mfg Co Bldg PSM 100/100-120 9,954

119 Pac NW Bell Telephone PSM 100/100-120 41,643

123 Metropole Bldg PSM 100/100-120 19,980

126 Nugent Block & Considine Block PSM 100/100-120 29,142

129 McGowan Block PSM 100/100-120 5,217

131 Lucknow / Ruggles Bldg PSM 100/100-120 18,708

133 Fire Stn #10 PSM 100/100-120 38,937

134 Duncan & Sons Bldg PSM 100/100-120 19,470

135 Cadillac Hotel PSM 100/100-120 19,470

136 Northcoast Bldg PSM 100/100-120 25,918

137 Goldsmith Bldg PSM 100/100-120 11,885

139 NW Hotel Supply PSM 100/100-120 20,796

140 Furuya Bldg PSM 100/100-120 18,138

141 Main Hotel PSM 100/100-120 10,623

144 Sartori Bldg PSM 100/100-120 19,455

145 Totem Distrib Co PSM 100/100-120 19,455

146 Cascade Laundry PSM 100/100-120 17,262

147 Mohawk Bldg PSM 100/100-120 7,181

148 Stadium Furniture PSM 100/100-120 28,808

151 Alaska Bldg PSM 100/100-130 12,974

152 Corona Bldg PSM 100/100-130 19,461

153 Hartford Bldg PSM 100/100-130 19,461

154 Collins Bldg PSM 100/100-120 8,659

162 Lexington Hotel, Monterey Hotel PSM 100/100-120 17,433

163 Chin Gee Hee Bldg PSM 100/100-120 7,686

165 Ace Hotel PSM 100/100-120 12,798

167 Drexel Hotel PSM 100/100-120 20,010

168 Morrison Hotel PSM 100/100-120 60,033

171 & 172 Frye Hotel PSM 100/100-120 64,737

175 Union Gospel Mission PSM 100/100-120 3,333

176 Graham Block PSM 100/100-120 7,116

184 Tashiro Building PSM 100/100-120 13,500

186 Hotel Union PSM 100/120-150 21,207

187 Northcoast Elec Bldg PSM 100/120-150 11,241

188 Westcoast Wholesale Drug PSM 100/120-151 21,633

190 Metropolitan Bldg PSM 100/120-152 12,484

194 Prefontaine PSM 100/100-120 7,407

199 420 4th Avenue DMC 340/290-440 21,300

202 Crouley Building/Reynolds Hotel DMC 340/290-440 33,300

Potentially Eligible Sites in Chinatown/International District

Historic Register number Name of Historic Building Property Address Zone Estimated TDR Available

(SQ FT)

1 Governor Apartments 514-526 South Jackson Street IDM-75-85 37,800

2 Main School Annex 307 6th Avenue South IDM-75-85 9,000

3 Russell Building/Kayo Restaurant 513-27 South Main Street IDM-75-85 33,300

4 Panama Hotel 601-611 South Main Street,

302-6 Sixth Avenue South IDM-75-85 21,600

5 N.P. Hotel 304-310 Sixth Avenue South IDM-75-85 21,600

6 Jackson Building (Higo Variety) 600-612 South Jackson Street IDM-75-85 37,800

7 Havana Hotel (Far East Building) 614-624 South Jackson Street IDM-75-85 16,200

8 U.S. Hotel (International Apartments) 315 Maynard Avenue South IDM-75-85 21,600

9 Rainier Heat & Power --C & T Building 650-662 South Jackson Street, 316 Maynard Avenue South IDM-75-85 37,800

10 Jackson Hotel 664-676 South Jackson Street IDM-75-85 16,200

11 Buty Building (Idaho Hotel) 503-511 South Jackson Street IDM-75-85 16,200

13 Unknown 418-422 Fifth Avenue South/

500-512 South King Street IDM-75-85 21,600

14 American Hotel (Union Gospel) 518-526 South King Street/

417-21 Sixth Avenue south IDM-75-85 17,382

18 Bush Hotel 615-627 South Jackson Street IDM-75-85 42,840

19 Tokiwa Hotel (Evergreen Apartments) 651-661 South Jackson Street IDM-75-85 24,480

20 Atlas Theater/Kokusai Theater (Chinese Post) 412 Maynard Avenue South IDM-75-85 21,600

21 Atlas Hotel 416-424 Maynard Avenue South IDM-75-85 34,920

22 Milwaukee Hotel/Goon Dip Building 664-676 South King Street/

415-419 7th Avenue South IDM-75-85 43,200

23 China Garage (T.C. Garage) --Wing Luke Museum 413-417 Seventh Avenue South IDM-75-85 21,600

25 T & C Building (Chin & Toda Office Building)/Seventh Avenue Auto Service (Auto Repair) 667-677 South Jackson Street/ 701-711 South Jackson Street IDM-75-85 40,320

26 Republic Hotel --Wing Luke Museum & Lyn Yuen Apartments 410-416 Seventh Avenue South IDM-75-85 21,600

27 New American/Norway Hotel/Bing Kung Association Apartments (primary) 418-424 Seventh Avenue South/ 704-710 South King Street IDM-75-85 23,040

30 Hip Sing Association Building/Chinn Apartments 418-422 8th Avenue South IDM-75-85 10,080

31 Don Hee Apartments 410-416 Eighth Avenue South IDM-75-85 13,500

32 Hotel Publix 504-12 Fifth Avenue South/

501 South King Street IDM-75-85 21,600

33 Unknown 605-613 South King Street/

500-506 Sixth Avenue South IDM-75-85 21,600

35 Ohio Hotel (Soo Yuen Association Building) 616-624 South Weller Street IDM-75-85 16,200

36 Freedman Building (Adams Hotel) 513-517 Maynard Avenue South IDM-75-85 21,600

37 Mar Building (Hong Kong Building) 507-511 Maynard Avenue South IDM-75-85 21,600

38 Alps Hotel 615-625 South King Street IDM-75-85 21,600

39 Rex Hotel 651-665 South King Street IDM-75-85 21,600

40 Eastern Hotel 506-510 Maynard Avenue South IDM-75-85 21,600

41 Sing Keong Family Association (Honey Court Restaurant) 512-516 Maynard Avenue South IDM-75-85 21,600

42 Eclipse Hotel 664-670 South Weller Street IDM-75-85 21,600

43 Gee How Oak Tin Hotel 513-519 Seventh Avenue South IDM-75-85 21,600

44 Louisa Hotel (Hudson Hotel) 615-625 South King Street/

505-511 7th Avenue South IDM-75-85 43,200

45 Kong Yick 701-711 South King Street IDM-75-85 43,200

47 Chong Wa Benevolent Association 522 Seventh Avenue South IDM-75-85 21,600

48 Freeman Hotel 715-725 South King Street IDM-75-85 27,400

49 Unknown 801-811 South King Street IDM-75-85 40,320

50 New Central Hotel 651-661 South Weller Street/ 606-610 Maynard Avenue South IDM-75-85 43,200

N/A Victorian Row Apartment Building 1237 S King St DMR/C 75/75-95

Potentially Eligible Sites in Other Portions of Downtown

Name of Historic Building Property Address Zone Estimated

TDR Sold

(SQ FT) Estimated

TDR Available

(SQ FT)

Colman Building 95 Spring St DMC 240/290-440 55,760

Colonial Hotel 1117 1st Ave DMC 240/290-440 83,855

Eitel Building 1501 2nd Ave DMC 240/290-440 27,960

Fashioncraft Building/Recovery Cafe 2022 Boren Ave DMC 240/290-440 40,355 0

Grand Pacific Hotel 1116 1st Ave DMC 240/290-440 34,600

Griffin Building 2005 Fifth Ave DMC 240/290-440 32,400

Holyoke Building 107 Spring St DMC 240/290-440 132,940

J.S. Graham Store/Doyle Building 119 Pine St DMC 240/290-440 42,270

Josephinum/New Washington Hotel 1902 2nd Ave DMC 240/290-440 54,820 0

Moore Theatre and Hotel Building 1932 2nd Ave DMC 240/290-440 11,040

Old Norway Hall 2015 Boren Ave DMC 240/290-440 36,000 33,750

Palladian Apartments 2000 Second Ave DMC 240/290-440 22,083 0

Schoenfeld Building 1012 1st Ave DMC 240/290-440 30,448

Sheridan Apartments 2011 Fifth Ave DMC 240/290-440 32,400

Terminal Sales Annex 1931 Second Ave DMC 240/290-440 24,300

White Garage 1915 3rd Ave DMC 240/290-440 32,400

Chamber of Commerce Bldg 215 Columbia St DMC 340/290-440 71,880 0

Dexter Horton Building 710 2nd Ave DMC 340/290-440 0

Eagles Temple Building 1416 7th Ave DMC 340/290-440 186,515 0

El Rio Apts (Julie Apartments) 1922 9th Ave DMC 340/290-440 29,557 6,443

Exchange Building 821 2nd Ave DMC 340/290-440 0

Hoge Building 705 2nd Ave DMC 340/290-440 0

Lyon Building 607 Third Ave DMC 340/290-440 327,425

Norton Building 801 2nd Ave DMC 340/290-440 0

Paramount Theatre and Building 901 Pine St DMC 340/290-440 302,540 0

Puget Sound Bank (Bank of California) 815 2nd Ave DMC 340/290-440 34,770

Seattle National Bank (United Way Building) 720 Second Ave DMC 340/290-440 40,673 28,927

Colonnade Hotel/Gatewood Apartments 107 Pine St DMC-145 62,715

Terminal Sales Building 1932 1st Ave DMC-145 20,760

Beebe Building (Alexis Hotel) 1013 1st Ave DMC-170 66,590

Colman Building 810 1st Ave DMC-170 98,924

Globe Building 1005 1st Ave DMC-170 53,950

Hotel Cecil (Alexis Hotel) 1021 1st Ave DMC-170 123,822 0

Maritime Building 911 Western Ave DMC-170 166,920

National Building 1018 Western Ave DMC-170 72,100

Olympic Warehouse and Cold Storage Building 1205 Western Ave DMC-170 39,028

Pacific Net & Twine Building 51 University St DMC-170 66,190 0

Fire Station #2 2318 4th Ave DMR/C 280/125 38,880

Franklin Apartments 2302 4th Ave DMR/C 280/125 12,960

Windham Apartments 420 Blanchard St DMR/C 280/125 0

55 Bell Street 55 Bell St DMR/C 95/75 11,293

Bon Marche Stables 2315 Western Ave DMR/C 95/75 0

Seattle Empire Laundry Building 66 Bell St DMR/C 95/75 7,208

Union Stables 2200 Western Ave DMR/C 95/75 0

Metropolitan Press Printing Co/Brasa Bldg 2107 3rd Ave DMR/R 145/65 0

New Pacific Apartment Building 2602 1st Ave DMR/R 145/65 6,464

Seattle Labor Temple 2800 First Ave DMR/R 145/65 12,960

Barnes Building 2320 1st Ave DMR/R 95/65 0

Bell Building 2326 1st Ave DMR/R 95/65 10,376

Castle Apartments 2132 2nd Ave DMR/R 95/65 39,240

Guiry Hotel 2104 1st Ave DMR/R 95/65 6,744

Hull Building 2403 1st Ave DMR/R 95/65 0

Latona Hotel/Ace Hotel 2423 1st Ave DMR/R 95/65 0

Mama's Mexican Kitchen Building 2234 2nd Ave DMR/R 95/65 6,480

MGM Building 2331 2nd Ave DMR/R 95/65 6,480

RKO Distributing Co. Bldg 2312 Second Ave DMR/R 95/65 4,200

Schillestad Building 2111 1st Ave DMR/R 95/65 5,760

Wayne Apartments 2224 2nd Ave DMR/R 95/65 6,480

William Tell Hotel 2327 2nd Ave DMR/R 95/65 0

Arctic Building 306 Cherry St DOC1 U/450-U 69,678

Central Building 810 Third Ave DOC1 U/450-U 120,985 0

Federal Reserve Bank of San Francisco 1015 2nd Ave DOC1 U/450-U 155,520

First United Methodist Church (former) 811 5th Ave DOC1 U/450-U 87,330

Leamington Hotel and Apts (Pacific Hotel) 317 Marion St DOC1 U/450-U 127,368

Rainier Club 810 4th Ave DOC1 U/450-U 171,384

Seattle Tower 1212 3rd Ave DOC1 U/450-U 0

Washington Athletic Club 1325 Sixth Ave DOC1 U/450-U 0

Women's University Club 1105 6th Ave DOC1 U/450-U 86,400

YWCA Building 1118 5th Ave DOC1 U/450-U 65,228

Camlin Hotel 1619 9th Av DOC2 500/300-550 28,889

Lloyd Building 601 Stewart St DOC2 500/300-550 141

Securities Building 1904 Third Ave DOC2 500/300-550 117,220

Times Square Building 414 Olive Way DOC2 500/300-550 71,745

1411 4th Ave Building 1411 4th Ave DRC 85-170 0

Bon Marche 300 Pine St DRC 85-170 0

Fischer Studio Building 1519 3rd Ave DRC 85-170 13,511 5,944

Frederick and Nelson Bldg 500 Pine St DRC 85-170 0

Great Northern Building 1404 4th Ave DRC 85-170 6,063

Joshua Green Building 1425 4th Ave DRC 85-170 0

Liggett/4th and Pike Building 1424 4th Ave DRC 85-170 0

Mann Building 1411 3rd Ave DRC 85-170 3,813 0

Medical Dental Building 509 Olive Way DRC 85-170 0

Northern Bank and Trust/Seaboard Building 1506 Westlake Ave DRC 85-170 1,778

Olympic Tower 217 Pine St DRC 85-170 0

Shafer Building/6th and Pine Building 515 Pine St DRC 85-170 20,862

Potentially Eligible Sites in the University District

Name Address

Anhalt Hall 711 NE 43rd Street

Neptune Building 1301 NE 45th St

Seattle Fire Station #17 1010 NE 50th St

Seven Gables Theater 911 NE 50th St / 4753-4759 Roosevelt Way NE

University Heights Elementary School 5031 University Way NE

University Library 5009 Roosevelt Way NE

University Methodist Episcopal Church and Parsonage 4138 & 4142 Brooklyn Ave NE

Wilsonian Apartments 4700-4710 University Way NE

Potentially Eligible Sites in Uptown

Name Address

Del a Mar Apartment Building 115 W Olympic Pl

Space Needle 219 4th Ave N

Seattle Center House / former Seattle Armory 305 Harrison Street

Ankeny-Gowey House 912 2nd Ave W

Villa Costella 348 W Olympic Pl

Northwest Rooms & Int'l. Fountain Pavilion 305 Harrison Street

Pacific Science Center 200 2nd Avenue N

Seattle City Light Power Control Center 157 Roy Street

Bressi Garage 226-232 1st Avenue N

Century 21 Coliseum / Key Arena 305 Harrison Street