HomeMy WebLinkAbout21-081 - Annual Report 2025 - Holden at Southcenter, LLC - Multi-Family Residential Property Tax Exemption Agreementvia Federal Express & U.S. Mail
December 16, 2024
City of Tukwila
Office of the City Clerk
6200 Southcenter Blvd
Tukwila, WA 98188
City of Tukwila
Office of Economic Development
6200 Southcenter Blvd
Tukwila, WA 98188
MG at Tukwila, LLC
1938 Fairview Ave. E. #300
Seattle, WA 98102
206-676-5600
RECEIVED
CITY OF TUKVJILA
CITY CLERK
Reference 21-081
Re: MFTE Reporting due annually on December 31st
Final Certificate dated October 21, 2021
Merrill Gardens at Tukwila located at 112 Andover Park E., Tukwila formerly known as The
Holden at Southcenter (the "Property")
Dear City of Tukwila,
This letter is sent pursuant to the Multi -Family Residential Property Tax Exemption Agreement
dated May 21, 2021 between the City of Tukwila and Holden at Southcenter, LLC under King County
recording number 20210816001162 as assigned to MG at Tukwila, LLC under King County recording
number 20240322000443 (collectively, the "Agreement"). A copy of the notice sent to you regarding the
assignment is enclosed. We have complied with the terms of the Agreement and hereby submit our
annual reporting in compliance with Section 4.a. of the Agreement.
Section i. There are 134 residential units total in the Property*. 107 of these residential age -
restricted units eligible for the exemption. 27* of these residential units are
considered memory -care units and are not eligible for the exemption. Please see the
attached table for occupancy information as of 11/30/24.
Section ii.
Section iii.
Section iv.
Section v.
The Property has not changed use since the date of filing the Final Certificate and
continues to be in compliance with the Agreement.
The improvements constructed are in accordance with the plans approved by the
C4 of Tukwila without change since the date of filing the Final Certificate.
The value of the tax exemption is $29,266,300.00 per the King County Assessor's
website.
Please let us know if there is any other information you'd like reported.
* There have been no changes to the configuration of units in this building. The former owner counted
the shared memory care units as 1 unit per side of the shared unit, whereas we count the shared memory
1
care units as .5 units per side. For illustrative purposes we include the plan page from the Agreement and
note this for your review:
The yellow highlighted apartments are shared occupancy. These are the apartments where
we count each side/resident as .5. The prior manager counted these as two units. We
count it as one apartment.
The blue highlighted apartments are the private apartments.
There are 23 apartments highlighted in blue. There are 4 apartments highlighted in
yellow. We count this as 27 apartments. The prior manager counted these as 31 units (23
single units and 8 units in the 4 shared apartments).
Please contact me at 206-676-5616 if you have any questions about this submittal.
Sincerely,
MG at Tukwila, LLC
Douglas D. Spear o(utherrized Signatory
State of WcL(j'1(`®--�
V
County of
This record was acknowledged before me on %(o JC'Ai by
T�r), r;l c;.��.Sp<'r��' as Authorized Signatory of MG at Tukwila, LLC.
NOTARY F!1)BLIC #36633
S°i°ATEE CF WASHINGTON
QOMISSKAJ EXPIRES
OCTOBER 19, 2027
(Stamp)
;0
(3ig`nafe ota' public)
(Title of office)
My Commission Expires: cf
L2
(bate)
Studio
AL
512
3,495
44.0
33%
23.0
52%
21.0
48%
1 Bedroom
AL
680
4,635
47.0
35%
23.0
49%
24.0
51%
2 Bedroom
AL
1,068
6,727
16.0
12%
15.0
94%
1.0
6%
Memory Care Private
DM
387
7,733
23.0
17%
23.0
100%
-
0%
Memory Care Shared
DM
338
6,557
4.0
3%
4.0
1010%
-
0%
Total/Avg.
606
5,591
134.0
100%
88.0
66%
. ........ . —
46.0
34%
As of 11/30/24
Instrument Number: 20210816001162 Document -AG Rec: $217.50 Page -10 of 15
Record Datc:8/16/2021 1:46 PM King County, WA
1 r-vr-1 1)
4 OF MEMORY CARE UNITS
27
MEMORY CARE UNIT TOTAL SQ FT
11,680
MEMORY CARE AMENITY SQ FT
3.377
MEMORY CARE CIRCULATION & SERVICE SQ FT
3,887
MEMORY CARE TOTAL, 80 FT
18,944
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