A vibrant, new, mixed-use community near the shores of Puget Sound

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1 A vibrant, new, mixed-use community near the shores of Puget Sound brought to you by SSI Pacific Place, LLC.

2 Waterview Crossing A high-density, mixed-use community located between Seattle and Tacoma on Highway 99, in the emerging Pacific Ridge Neighborhood of Des Moines, Washington. 1,600 residential units Includes 194 units of affordable senior housing Includes 180 service apartment / hotel units 40,000 square feet of ground floor retail* 90,000 square feet of Class A office space* 2,800 parking stalls in enclosed garages * Square footage may be larger based on market demand building key Housing/Condos, 448,000 gsf, 263 units Housing/Condos, 439,000 gsf, 267 units, 417 parking stalls Housing/Condos, 368,000 gsf, 234 units, 331 parking stalls Housing/Condos, 462,000 gsf, 290 units, 422 parking stalls Housing/Senior Apartments, 209,000 gsf 194 units, 132 parking stalls, 9,000 sf retail Office, 261,000 gsf, 90,000 sf rentable office 15,000 sf retail, 341 parking stalls Hotel/Service Apartments, 260,000 gsf, 180 guest rooms, 8,400 sf retail, 352 parking stalls Housing/Apartments, 322,000 gsf, 180 units 7,900 sf retail, 349 parking stalls

3 goals and objectives Realize the vision created by the city of Des Moines, for Pacific Ridge Neighborhood Improvement Plan to revitalize the neighborhood. Provide a range of housing opportunities which capitalize on the view opportunities of Puget Sound, the Olympic mountains, and Mount Ranier. Provide commercial and retail opportunities which maximize the benefit of proximity to Highway 99. Design pleasant, secure access routes through the site along active ground floor uses and allow for connections to greater community. Use place-making strategies to create a unique project identity. Create a dynamic, mixed-use neighborhood which capitalizes on the site s strategic location within the transportation corridor between the metropolitan centers of Seattle and Tacoma. Plans, illustrations, areas, and project descriptions are preliminary in nature and subject to change without notice. 2

4 I-5 REDMOND BAINBRIDGE ISALND SEATTLE 14 MILES PUGET SOUND BELLEVUE SEATTLE TACOMA AIRPORT DES MOINES KENT RENTON NORTH VASHON ISLAND WATERVIEW CROSSING FEDERAL WAY TACOMA 20 MILES MCNEIL ISLAND 1-5 ANDERSON ISLAND LAKEWOOD Drive times to the major regional employment centers Downtown Seattle minutes Downtown Tacoma minutes Kent Industrial Centers minutes Bellevue minutes Redmond, Microsoft headquarters, minutes 3 benifits of the site, Regional The Subject Site of Waterview Crossing is located along the I-5 corridor mid way between downtown Seattle and downtown Tacoma in King County, Washington, the hub of job growth in the Puget Sound region. The site is located within minutes of the Seatac International Airport. The only commercial airport serving the whole Puget Sound region. The site is located minutes off of I-5 in a redevelopment area within the City of Des Moines. The topography of the site will provide breathtaking views of Puget Sound and both the Olympic and Cascade mountain ranges. Proximity to I-5 means easy access to the multitude of regional recreation opportunities, including hiking, fishing, boating, and skiing. Site is located on along a proposed expansion route of the Sound Transit light rail line between Seattle and Tacoma.

5 BURIEN TOWN SQUARE BURIEN TUKWILA TUKWILA SOUTHCENTER SHOPPING MALL BURIEN TOWN SQUARE SEATTLE TACOMA AIRPORT 518 LIGHT RAIL SOUTHCENTER SHOPPING MALL 5 MILES SEA TAC I MILES NORMANDY PARK NORMANDY PARK 3 MILES DES MOINES DES CREEK MOINES BUSINESS CREEK BUSINESS PARK PARK NORTH HILL 99 1 MILE 2 MILES 167 DOWNTOWN DOWNTOWN DES DES MOINES MOINES AND MARINA AND MARINA DES MOINES DES MOINES WATERVIEW CROSSING 167 VASHON ISLAND HIGHLINE VASHON ISLAND HIGHLINE COMMUNITY COMMUNITY COLLEGE COLLEGE PUGET SOUND KENT STATION SHOPPING CENTER KENT KENT KENT STATION PUGET SOUND 99 WOODMONT BEACH WOODMONT BEACH 5 I-5 COMMUTER RAIL benifits of the site, Local The city of Des Moines is an inviting and safe waterfront community which provides an excellent blend of quality homes, natural beauty, and business opportunity. Schools, parks, recreation, a salt water marina, a sand beach, and local and regional shopping are available within 5 to 15 minutes of the site. The 89-acre Des Moines Creek Business Park, with groundbreaking scheduled for the summer of 2009, is located within several blocks of the subject site. At full build-out the project is expected to generate over 1,600 direct jobs and include a combination of airport-related uses and big-box, retail development. The site is conveniently located near Highline Community College, which is one of the state s largest institutions of higher education with an enrollment of 16,000 students. Sound Transit light rail station at Sea-Tac International Airport scheduled to be completed in

6 description of expected buyers and demographics Information from market study prepared by NewHomeTrends, dated March 24, 2008 The predominant buyer and tenant profiles will be: 20% Singles 25 to 54 years of age 20% Singles 55 to 85 years of age 20% Couples without children 30 to 50 years of age 25% Empty nester couples 51 to 65 years of age 15% Retiree Couples 60 to 85 years of age Two market segments: Baby Boomers, Singles and Couples, 45 to 65 Years of Age Baby Boomers make up one-third of the population, yet own over 45% of U.S. homes. This generation will spend one-third of their life in retirement. The number of seniors will double between 2002 and Americans over 50 years old own 50% of all discretionary income and hold 77% of all financial assets in America. 84% plan to work after retirement. 17% will start their own business. 50% of all singles in the U.S. are past the age of 45. Generation Y, Born Between 1977 and mid 1990 s Generation Y will make up 34% of the US population by Generation Y is very Tech savvy, their life style is all about technology. They want to live close in to the action, close to coffee shops, shopping, clubs, and entertainment They want something that is designed to be social They like lofts with exposed concrete, high ceilings, open floor plans and bold colors. They want smaller more affordable units. 500 to 900 square feet, They often buy things on a spur of the moment. Customization is not their style, it takes too long. They want what they want and they want it now. 5

7 recommended product mix New Home Trends, March 24th, Recommended Product Garage Space Building Unit Mix Unit Net Sq. Footage Phase I, West of 28th and Fronting On Highway 99 Building Period 2012 to Total Units Per Building Service/Student/Corporate Apartments (fully Furnished short term rentals) Designed to be converted to condos at a later date. Amenities Lobby Area, 2 Meeting Rooms with Video Conferencing, Kitchen Serving and Lounge Area, Kitchenette in Units with Microwave, Roof Top Patio Deck, Fee Parking Garage, 24 hour Staffing, Coin Operated Laundry Rooms on Each Floor, Key Card Entry Systems and Fully Furnished Units. Studios 1 10% 300 Studio with sleep alcove 1 10% 400 Small 1/1 1 20% bed 1 bath 1 20% bed 1 baths 1 20% bed 2 baths 1 20% Total Units Per Building Age Targeted Independent Living Rental Units: Secured Building. Amenities Library, Social Room, Business Center and Fitness Center. 1 bed 1 bath + den alcove 1 30% bed 1 bath (1 bed + den) 1 30% bed 2 baths 2 30% 1,000 2 bed + den 2 bath 2 10% 1,400 Phase II, East of 28th Highest and Best Views of Puget Sound and Mount Rainier Building Period 2014 to Total Units Per Building Mid - High Rise Stacked Flat Condominiums or Apartments (depending on market conditions at the time). Amenities Large Lobby, Screening Room, Fitness Center and Indoor/Outdoor Social Spaces. Studio 1 25% bed 1 bath 1 25% bed 1 bath (1 bed + den) 1 25% bed 2 baths % 1, Total Units Per Building Townhomes For -Sale at the base of the mid or High Rise Buildings 3 bed 2.5 baths 2 50% 1,300 3 bed 2.5 baths 2 50% 1, Total Units Per Building Stacked Flat Condominiums (could be mid or high rise): Secured Elevator Building. Amenities Large Lobby, Concierge, Weight Studio, Cardio and Yoga Studio, Urban Gardens, Social/Dining Area Opens onto Terrace with Outdoor Fireplace. Studio 1 10% bed 1 bath 1 10% bed 1 bath (1 bed + den) 1 20% bed 2 baths % 1,000 2 bed + den 2 20% 1, baths Dual master 2.5 baths 2 15% 1,600 3 bed + den 2 5% 1,850 Pent House Suite 6

8 site plan Ground floor uses 29 th avenue 218 th street Private courtyard public plaza Private courtyard 28 th avenue waterview place 220 th street Private courtyard public plaza highway 99 Ground floor uses plan The ground floor space is shared between residential, retail and office space. Highway 99 Retail and commercial spaces to occupy the ground floor of this high-volume, regional thoroughfare. Waterview Place The internal core of the project is predominantly residential in nature, with walk-up, townhome units, and the potential of ground floor commercial and live/work units. Perimeter streets Ground floors of the units on these streets are raised above the adjacent walk, to create the possibility of private, residential terraces and individual unit entries. 7 key Retail Residential Hotel Amenity Lobby Parking Service Live/Work Option Private Parking Entry Public Parking Entry

9 corner of HIGHWAY th street Elevated promenade at ground floor on Highway 99, includes a landscape buffer to improve the pedestrian experience. Retail spaces open to sidewalk. Ground floor live/work opportunities. Private residential terraces at street. 8

10 site plan outdoor spaces 29 th avenue 28 th avenue 218 th street Private courtyard waterview place Private courtyard 220 th street Private courtyard public plaza highway 99 Private couryard public plaza common outdoor space Public Plaza: A central focal point for the neighborhood Steps up with the contours of the site, providing view opportunities Activated by residential and commercial uses Cascading stormwater feature as unifying element. Residential Buildings: Internally focused courtyards provide common recreation area Opportunities for outdoor, rooftop spaces with panoramic views Private Outdoor Space Raised, landscaped terraces at street-level residential units Individual unit balconies at above-grade units 9 Public gathering spaces between buildings.

11 CENTRAL PUBLIC PLAZA AT HIGHWAY 99 Ground floor commercial uses and outdoor gathering space activate the public plaza at the heart of the neighborhood. Outdoor stairs as placemaking device. Private outdoor terraces with views. Contemplative residential courtyards. 10

12 Typical 1 bedroom unit Sq. Feet Typical 2 bedroom unit 1,200-1,500 Sq. Feet Residential Community Waterview Crossing will be a neighborhood of over 1,600 new homes, offering a diverse array of housing choices, including: Age-targeted rental units Service/corporate apartments Market rate rentals High rise condominiums 2-story live/work spaces 11

13 Typical live/work unit 1,500-1,800 Sq. Feet amenity description Residential community Waterview Crossing will be a neighborhood of over 1,600 new homes, offering a diverse array of housing choices, including: Age-targeted rental units Service/corporate apartments Market rate rentals High rise condominiums 2-story live/work spaces hotel/service Apartments Lobby Area 2 Meeting Rooms with Video Conferencing Key Card Entry Systems Kitchen Serving and Lounge Area Kitchenette in Units with Microwave Roof Top Patio Deck Fully Furnished Units Fee Parking Garage 24 hour Staffing Coin Operated Laundry Rooms on Each Floor mid-high rise Condominiums and apartments Large Lobby Concierge Weight Studio Cardio and Yoga Studio Urban Gardens Social/Dining Area Opens onto Terrace with Outdoor Fireplace age targeted independant rental units Library Social Room Business Center Fitness Center 12

14 For more information or sales and leasing opportunities, please contact: SSI Pacific Place, LLC 1612 S. Mildred St., Suite B, Tacoma, WA Phone: Website: Architecture, Planning and Graphic Design by Ankrom Moisan Associated Architects