Glenn Roberts   |  Ravenna Park  |  My Seattle   | Lake & Co Real Estate

Roosevelt to get Light Rail

In This Post

The Roosevelt Neighborhood and what lies ahead.

The Roosevelt neighborhood of Seattle is one of 38 neighborhoods in Seattle designated as an Urban Village. There are three types of Urban Villages in Seattle:

Urban Centers, the densest residential and commercial areas;

Hub Urban Villages, less dense than the urban centers but also have a significant commercial presence;

and Residential Urban Villages, smaller-scale multifamily areas containing commercial

areas that primarily serve the residential community.

All 38 of the urban villages are destined to have greater population density to help prevent deterioration of single family neighborhoods by overcrowding, and help prevent urban sprawl. All urban villages will also be transportation centers. The hope is that most of the people will live in the villages and that most of the people will be within walking distance to public transportation and that they will use it.

The Roosevelt community just underwent a substantial zoning analysis and came up with a plan about how they want the community to grow over the coming decades. A light rail station is planned for the area and should be completed by 2019. When completed Roosevelt will be on the light rail line that will run from Northgate through the University District, Capitol Hill, Downtown, Beacon Hill, several south end communities and on to Seatac Airport making it possible for flyers to get from Roosevelt to the airport for approximately $4.00. Current cab or shuttle fares range from $40-50.

The Roosevelt urban village lies between Green Lake and Ravenna. It extends from Ravenna Blvd. on the south to NE 75^th St on the north. There are some delightful single family streets to the very north and south of the area. The core of the village lies between Roosevelt Ave NE and 12^th Ave NE and is centered on NE 65^th St. Current zoning allows for six story buildings but the plan calls for buildings up to eight stories. Density is also increasing in many areas. Already there are many condo and apartment buildings and a significant number of townhouse style developments. The village got its first live/work units last year and they quickly sold out. More are planned.

The Current Market

In this neighborhood there are 17 currently active listings. Eight are residential and they range in asking price from $285,000-775,000. Eight are condominiums listed between $156,500 and $345,000. There is one commercial property listed at $675,000.

There is only one residential property currently under contract which was listed at $385,000; and one condo under contract listed at $225,000.

There have been 15 residential sales over the past 6 months ranging from $285,000-$775,000; and 2 condos have sold; one at $175,000 and the other at $217,000. There have been no commercial sales in the NWMLS during this period.

Half of the properties sell in the first 30 days but a quarter take longer than 120 days.

If a property is priced right it will probably sell in the first 30 days for nealy that price. If priced too high it could sell for a lot less, a lot later.

I’m a bit surprised that there hasn’t been more activity due to the potential that lies in this area because of the advent of light rail. Maybe it’s just too soon to get excited.  If you’d like to investigate this neighborhood further, you can call me. Roosevelt is my principle shopping area.