Seattle Commercial Real Estate News of the Day

Tuesday, May 3, 2011

Seattle Times Daily Journal of Commerce Headline
Manufacturing grew for 21st month in April Two teams want to develop Tukwila Village
Businesses ordered more factory goods in March Two groups have submitted their qualifications to develop a large mixed-use project called Tukwila Village.

Bellingham-based Trillium Corp. and the team of Puyallup-based Pacific Northern Construction and Senior Housing Assistance Group responded to the city of Tukwila’s request last week. The city council is scheduled to select a developer June 6.

The Seattle design firm CollinsWoerman is on Trillium’s team. Chris Benner, Trillium vice president of Real Estate Development, said his company would hire a general contractor for the project.

Johnson Braund Design Group of Tukwila would design the Pacific Northern/SHAG project. Pacific Northern President Bryan Park said Inter-City Contractors of Kenmore would be the general contractor.

Tukwila Village is on nearly 6 acres at South 144th Street and Tukwila International Boulevard. The city has been trying to get the site developed since 1998. Three groups previously worked on projects there but pulled out when the economy weakened.

The city wants a new King County Library branch, police resource center, retail and restaurants, public meeting space and an outdoor plaza. Tukwila Village also could have housing, including for seniors, and a community health center run by the nonprofit HealthPoint.

Benner said Trillium learned about the Tukwila opportunity through CollinsWoerman, which was the architect for Legacy Partners in an earlier unsuccessful effort to develop Tukwila Village.

Trillium’s project would be different from Legacy’s, Benner said, but his group’s first priority is to get through the qualification process and then come up with a proposal.

The Trillium group could include some senior housing. Derek Speck, Tukwila’s economic development director, said Trillium officials indicated they are talking to Regency Pacific about a senior housing component.

Park said Tukwila Village is a great place for mixed-income, mixed-use development. His company plans mostly senior housing but could have units for younger people. Retail and other commercial space would also be in the mix.

Both developers said they like the location and surrounding infrastructure. The site is about five blocks north of the Tukwila light rail station.

The last developer, Tarragon of Seattle, proposed a project with about 500,000 square feet, including housing and retail in addition to the library, police center and open space.

The library has not committed to the project, but Kay Johnson, director for facilities development for the library system, said earlier it will consider developers’ proposals. The library has a branch in the area but wants to expand. It has about $2.6 million set aside for the project, with Perkins + Will as the architect.

HealthPoint is interested in opening a clinic at Tukwila Village, according to Lisa Yohalem, director of planning and development for the agency.

The city will begin negotiations with a developer once one is selected. The goal is to have an agreement signed by the end of the year.

“I predict after that the project will take a year of design and site work and then a year of construction,” said Speck. That means the first phase of Tukwila Village could open in 2014.

Viaduct to lose one lane each way in Sodo starting May 16
Puget Sound Business Journal
McGuire Building garage demolition begins
WaMu Inc. bankruptcy costs top $400M
Alaskan Way Viaduct losing a lane in each direction
Seattle-PI.com
City Council postpones action on second anti-tunnel measure
South Lake Union certified as green neighborhood
Think you know mortgages? Here’s a quiz
Other News
Commercial Real Estate in U.S. May Face ‘Correction,’ Apollo’s Azrack Says
Fed Says Banks Eased Lending Terms, Demand for Loans Increased
Financial Brokerage to Acquire Newmark Knight Frank
Grubb & Ellis sees local opportunity in wake of $18 million investment
Colony Financial Announces First Quarter 2011 Financial Results
Kidder Mathews Named New Agents for Kent Valley Portfolio

Advertisements

About CRE Northwest

Specialist in office & investment real estate in Seattle & the Eastside
This entry was posted in Uncategorized. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s