The Station @ Shelton Springs
The Station @ Shelton Springs
Marketing description
The Station at Shelton Springs: Fully Entitled 88-Unit PUD in Opportunity Zone 11750 N Hwy 101, Shelton, WA 98584 | Offering Price: $1,600,000
A premier development opportunity awaits at The Station at Shelton Springs, a fully approved Planned Unit Development poised to deliver legacy workforce housing to a supply-constrained market. Strategically positioned along Highway 101 across from Sanderson Airfield, this 3.63-acre site offers high visibility and excellent connectivity to Olympia and the I-5 corridor just 25 miles away.
This project is effectively shovel-ready, bypassing years of arduous approval processes. Key entitlements are already secured, including water and sewer utility extensions, parking reductions, high-density allowances, and a finalized SEPA determination. The approved site plan features 88 residential units (comprising 84 apartments and 4 townhomes) and a 3,000 SF commercial pad, with flexible zoning that allows for phased construction.
Located within a Qualified Opportunity Zone, investors can leverage potential tax deferral benefits for up to 10 years. With Shelton experiencing a critical housing shortage and limited utility connections for new projects, this offering represents a rare, turn-key entry into one of the region's most promising growth corridors. The current owners are amenable to retaining investment ownership or assisting through the permitting process, offering significant flexibility for the next developer.
Investment highlights
Fully Entitled & Development Ready
- De-Risked Project: This is a fully approved Planned Unit Development (PUD) for six total structures, meaning the extensive approval process is already complete.
- Secured Utilities: The project includes secured Public Water and Sanitary Sewer Utility Extension Agreements with the City of Shelton, removing a major hurdle for new development.
- Reduced Construction Costs: A secured Administrative Determination allows for modified parking calculations, which optimizes site usage and reduces overall paving costs.
- Flexible Phasing: The development is approved for construction in three phases, allowing a developer to scale their capital deployment efficiently over time.
Strategic Location & Incentives
- High-Visibility Positioning: The 3.63-acre assembly is situated at 11750 N Hwy 101, directly across from Sanderson Airfield, providing excellent connectivity to Olympia and the I-5 corridor.
- Opportunity Zone: The property is located within a qualified Opportunity Zone, which offers potential investors significant tax deferral benefits for up to 10 years.
- Market Demand: Shelton is currently experiencing a housing shortage with limited utility connections available for new projects, making this a turnkey market entry designed to deliver legacy workforce housing in a high-growth corridor.
- Ownership Flexibility: The current owners are willing to stay involved through the permitting process or retain investment ownership, providing flexibility for developers capitalizing on regional demand.
Comprehensive Mixed-Use Site Plan
- Residential Unit Mix: The approved plan features 88 residential units across four 3-story apartment buildings and one 3-story townhouse.
- Diverse Floorplans: The unit mix caters to various demographic needs, featuring 4 studio units, 45 one-bedroom units, 32 two-bedroom units, and 7 three-bedroom units.
- Commercial Component: The site plan includes a standalone 3,000-square-foot retail or office building to provide on-site services or generate additional leasing income.
- Ample Amenities & Parking: The development emphasizes community living with associated open spaces and landscaping, supported by 147 provided parking stalls that include 16 EV charging stations.
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