Shovel-Ready Advantage: Fully entitled property minimizes development risk and accelerates the development timeline.

Infrastructure in Place: All roads and utilities are established, reducing development costs and expediting project completion.

Diverse Unit Mix: Plans include an optimal mix of studios, one-, two-, and three-bedroom units averaging 750 square feet, appealing to a broad renter demographic.

Opportunity Zone Potential: The property is located on a tract that meets eligibility requirements for the more restrictive Opportunity Zone program; new Opportunity Zones will be identified in July 2026, with the program opening for investment in January 2027.

Strong Submarket Performance: Average effective rent in the market reached $1,903 as of Q1 2025 (a 6% increase from the previous year), compared to $2,713 in the Downtown Seattle submarket.

Strategic Connectivity: Bremerton is located just 11 miles from Seattle—only a 30-minute ferry ride away via the Bremerton Fast Ferry; residents can easily reach Tacoma and Sea-Tac Airport via State Highway 16 and Interstate 5, as well as access the Olympic Peninsula via the Hood Canal Bridge.

MFTE Program Eligible: This property qualifies for Bremerton’s Multifamily Property Tax Exemption Program, offering 8-year tax exemption that can be extended to 12 or 20 years by meeting affordable housing requirements.