Rare development and commercial opportunity in the heart of historic Old Town Bellingham. This prime site previously held permits for a 50-unit multifamily project (now expired) and still qualifies for the Multi-Family Housing Tax Exemption, offering strong financial upside for developers. The existing building also supports a wide range of commercial uses including retail, office, studio, service businesses, light production, and mixed commercial making it ideal to lease out while planning future redevelopment. Located minutes from Downtown, the Waterfront District, WWU, and major transit routes, this property sits in a highly desirable and rapidly revitalizing corridor. A flexible, centrally located asset ready for your next project. 84-unit development coming 2026 2 blocks away.