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Construction is underway for the redevelopment of the historic Anderson School in downtown Bothell, Wash. McMenamins first Seattle-area hotel will open October 15, 2015, and feature a 72-room hotel, restaurants, a brewery, pubs, swimming pool, theater and outdoor spaces.
Anderson School hotel rooms can be reserved online now. Event space bookings are also now available online or by calling (425) 398-0127.
McMenamins will begin accepting applications for more than 150 full- and part-time Anderson School positions in May. Job listings will be posted on McMenamins website as they become available.
For media inquiries, contact jessicalyness@maxwellpr.com
Anderson School Properties LLC (the Company) sought $8 million in capital from accredited investors who wanted to be part of Anderson School’s revitalization and McMenamins’ proven approach to the development of mixed-use community space. Located in the center of Bothell, Wa., the Anderson School is considered a key part of the City’s redevelopment efforts, which already include $150 million in public and approximately $207 million in private investment.
The six-acre property has been appraised with a market value of $26.2 million once renovated. The Company is utilizing a new type of securities private placement to complete the project. Effective in Sept. 2013, Rule 506(c) is an amendment to the Securities and Exchange Commission’s Regulation D, which allows a business to conduct a private securities offering and promote it via media and over the Internet, provided that all purchasers are accredited investors.
Maybe more important than financial returns, McMenamins developments have a positive social impact by filling community needs through free use of a dedicated community room and soaking/swimming pool, unique dining, live music, and art that spotlights local heritage. In the case of the Anderson School, the property will act as a community history hub and additional community green space will connect with Horse Creek. A long history of reimagining interesting spaces has taught the McMenamin brothers that the best results are achieved through the combined cultural experiences of travel, food, drink, music, original site-specific art and public spaces.
It’s great to see a forward thinking and acting city like Bothell. Leveraging $150 million in public investment, approximately $207 million in private monies are committed to commercial and residential development in the downtown core, turning this ideally located town on key transportation routes and the scenic Sammamish River into one of the Puget Sound’s most livable cities. Located in the center of Bothell, the Anderson School property is a key part of the city’s long-term redevelopment plan, which includes a new City Hall and city center, European-style “multi-way boulevards” and a vibrant waterfront park reconnecting downtown to the river where the City began its story in the late 1800s.
Bothell is located just 25 minutes northeast of downtown Seattle on SR 522 or via I-405, and it neighbors the popular Woodinville wine country, home to more than 90 wineries and tasting rooms. Visitors to the region enjoy sailing on Lake Washington, shopping for antiques and unique local gifts, hiking in the nearby Cascade Mountains, and cycling the Burke-Gilman and Sammamish River trails, 38 miles of paved multi-use path stretching from Seattle to Redmond. The city is ideally located to take advantage of the burgeoning tourist draw of the Sammamish River Valley and Seattle’s booming high-tech industry.
