The development project will fill the last parcel of land on a busy intersection at Bothell-Everett Highway at Maltby and Filbert roads, also known as Highway 524. City officials say that the area was named for the late Lyman and Freeda Thrasher, who opened a gas station and small grocery there in the 1920's. The area was distinctly rural until the 1980's, when new development sprouted up everywhere, including stores and commercial buildings.

Still, Bothell has not yet experienced the retail growth that has made the cities of Lynnwood and Woodinville so popular, so these new three commercial buildings are expected to give the city an economic boost.

The development project will be built near many of the area's strip malls but will have a more urban appearance. The nature of two of the buildings has not been decided on yet but the third will be a 150,000-sf Walgreen's drugstore, which will open before the end of the year.