A Loyal Heights resident is floating a proposal to turn a key neighborhood corner into a community-owned development, giving local investors a financial stake and a say in what gets built.
The concept centers on two parcels at the southeast corner of NW 80th St and 24th Ave NW, which are currently listed for $8.8 million as a redevelopment site. The parcels, home to an apartment complex and parking lot, are located directly south of Larsen’s Bakery and Beast & Cleaver.
The idea is to form a community-owned real estate entity to purchase the property, develop it, and eventually share ownership with neighborhood investors.
“Do Loyal Heights residents want to own and govern that redevelopment, or do we want to watch it happen to us?” organizer Jed Sundwall wrote in a concept document.
Sundwall, who has lived in Loyal Heights for 12 years, said he has been thinking about versions of this idea for years, rooted in a broader interest in cooperative ownership models. He runs the nonprofit Radiant Earth, which focuses on improving access to scientific data and has explored cooperative governance structures.
Under the proposal, the project would be funded in two phases. An initial group of “anchor investors,” about five participants contributing roughly $1 million each, would provide the capital needed to acquire the site and move through design, permitting, and construction. A second phase would open up a portion of ownership to neighborhood investors, potentially allowing smaller contributions from local residents.
Sundwall said the idea is still in its earliest stages. The property owner has not been contacted, no entity has been formed, and no investments are currently being accepted.
“This is so new that I don’t have a great sense of the timeline,” he said. “I finally started sharing it on Sunday as a Google Doc with some neighborhood text groups, as soon as I learned the lot was up for sale.”
Early interest has started to come in, including a handful of informal pledges from neighbors. “It’s pretty remarkable to have a stranger email you and say that they’re in for $10K,” Sundwall said.
The proposal envisions a mixed-use development allowed under current zoning, which supports buildings up to 55 feet tall. Sundwall said he hopes the project could include ground-floor retail and spaces that encourage community gathering.
“I hope we can build something that people in the neighborhood are proud of,” he said. “We already have a lot of businesses to love here, but I know that we could use more gathering spots for the people who live and work here.”
He pointed to the cluster of businesses around Ben’s Bread, Holy Mountain Brewing, and Lioness on Phinney Ridge as an example of the kind of neighborhood-oriented development he’d like to see.
“Governing is hard, and what I’m proposing is real estate development on hard mode,” he said. “But I think it’s worth attempting.”
The concept also emphasizes shared decision-making, with the goal of giving local investors a voice in aspects of the development. Sundwall acknowledged that approach could add complexity.
Sundwall said his goal is to explore whether Loyal Heights residents are interested in taking a more active role in shaping the neighborhood’s growth.
“I think Loyal Heights is ripe for it,” he said. “We have a wonderful community made up of people of all ages, and we’re set to grow.”
Photo: Apartment complex at NW 80th St and 24th Ave NW / Google Image Capture Sept. 2025