Harvest principal Bob Baker tells GlobeSt.com the 1.4-million-sf first phase, which is slated for a fall 2007 delivery, will include all of the residential units, about 70% of the retail and the hotel. The office space will be built above a portion of the second-phase of retail, he says.
The residential development will be high-end rental product designed such that it can eventually be sold off as condominiums. Baker says the goal is to have the development be a place where people can live, work, shop, dine and be entertained. The site is fully zoned and entitled.
Harvest Partners hired Seattle-based Callison to design the project. Callison designed Kent Station in Kent, the Northgate Mall expansion in North Seattle and was recently involved in the expansion and renovation of Alderwood Mall in Lynwood. SD Deacon Corp. will act as general contractor. The civil engineer is W.H. Pacific. Madison Marquette Retail Services is providing leasing services.
The Landing is being developed on a surplus portion of the Boeing Co's Renton plant. Boeing placed a 46-acre chunk of its 280-acre plant on the market in May 2004. Transwestern Harvest Lakeshore LLC purchased the property in late 2004, along with an option for another 22 acres that it has not yet exercised.
The 46-acre parcel is bordered by Garden Avenue N. to the east, Logan Avenue N. to the northwest and N. 8th Street to the south. The land was rezoned by the city in 2003 for a mix of uses including office and retail, urban density residential and biotech lab/office.
When the Renton City Council approved the zoning changes, it committed more than $33 million in funding for infrastructure improvements that will facilitate redevelopment. The city will use tax revenues generated from redevelopment to pay off bonds sold to fund the improvements.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
