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City Completes Acquisition of Borden Chemical Property, Plans Urban Village

KENT, WA-For $11 million, city officials have purchased a 15.4-acre former chemical plant north of downtown. Plans for the property call for a public-private partnership to develop a mixed-use project that would include office, retail and residential components.

By Janet Parker | Updated on February 12, 2001

KENT, WA-For what it envisions as an urban village development, the City of Kent has acquired a 15.4-acre industrial site from Columbus-based Borden Chemical Inc. The price tag for the property was $11 million, $9 million of which was borrowed from King County’s community development block grant program, for a term of 30 months. The $2 million balance was loaned by Kent’s utility fund.

Kent’s economic development manager Jacki Skaught tells GlobeSt the city “is looking for a public-private partnership” to develop a mix of multi-family housing, entertainment, retail and office buildings, tentatively named Kent Station. The city will immediately issue an RFQ and begin the selection process for “either a master developer or a mix of developers who will work together.” Skaught expects that process to be finalized by late summer or early fall this year, with the city’s first priority being the master planning.

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