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$300-$500M LakePointe Project in Limbo

KENMORE, WA-The 45-acre mixed-use development on Lake Washington has stalled, due largely to the current economic climate. Plans call for the roughly $300-$500 million project include 350,000 sf of office space and 300,000 sf of retail and commercial space.

By Gina Binole | Updated on February 01, 2002

KENMORE, WA-The LakePointe project, in the works since 1989 and even before Kenmore became a city, has stalled again, this time due to economic woes.

Late last month, the property owner, Pioneer Towing, announced the partnership formed to develop LakePointe, had dissolved, according to the city of Kenmore Web site.

The proposed site is located just east of the Kenmore Air Harbor Seaplane terminal. Plans for the 45-acre site on the shores of Lake Washington include 350,000 sf of office space, 300,000 sf of retail and commercial space, 1,200 residential units (both rental and condominium), a marina and more than 4,200 surface and underground parking spaces. The proposed development also includes construction of a new road connecting Highway 522 and Bothell Way NE.

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