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Real Estate but also in the community.
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Renton Real Estate you will find many blog and other web sites that bring out the interesting facts, not only about Renton Real Estate blog, but about the community and it'd unique features. For example...
Discover the magic of Renton and enjoy the convenient, spectacular location, outstanding value, hometown hospitality, and business-friendly environment.
Nestled on the south shore of beautiful Lake Washington, Renton is centrally located in the heart of the Puget Sound area - just 10 minutes from SeaTac International Airport, Seattle and Bellevue. Renton also offers terrific views of the Olympics, the Cascades and Mount Rainier.
Let's take a look at some of our wonderful neighbors.
Kent Station
Arrive by car, bus, commuter train, foot or bike. Enjoy dinner at one of 11 new eating establishments, access the Internet for free on your laptop in the 30,000 square foot outdoor plaza which includes an outdoor, two sided fireplace and water feature, and catch the latest Hollywood blockbuster movie on one of 14 movie screens at AMC Theatre. It's all possible in downtown Kent at Kent Station.
Information about tenants, special events and driving directions can be found at www.kentstation.com.
Phase I of Kent Station is currently underway and is scheduled to open this fall. It will include 80,000 additional square feet of retail. Tarragon, the developer, is focused on landing several teen and Generation Y clothing retailers, as well as signing more traditional apparel retailers. Phase III of the project is 140 residential units, and Phase IV of the project will be additional space for GRCC.
What is the Kent Station Project?
Kent Station is the realization of the City of Kent's vision to create a destination downtown that is the community's focal point and identity. Kent Station is a $100 million, 470,000 square-foot retail, education, entertainment and residential project. The project is strategically located adjacent to Sound Transit's Sounder Commuter Rail Station and parking garage, Kent's existing downtown and the King County Regional Justice Center. The developer for the project is Tarragon Development, and the project is being constructed on 18.2 acres of property that the City purchased in 2001.
How Did the City Start the Project?
The City of Kent has a longstanding vision to create a more vital and identifiable downtown. Both the Kent Comprehensive Plan (1995) and the Downtown Strategic Action Plan (1998) articulate the vision for an expanded downtown with retail, office, residential and entertainment uses located adjacent to transit.
To further the downtown vision, the City made two strategic investments. First, in 1999 the City agreed to contribute $4 million to Sound Transit for the construction of a structured parking facility at the Commuter Rail Station. Four million dollars was the price difference between building a surface parking lot, the original proposal, and a structured parking facility. Sound Transit commenced commuter rail service in February 2001, helping to connect Kent commuters to downtown Seattle and eventually Tacoma. The parking structure opened in March 2002.
Second, the City purchased 19.9 contiguous acres of property in the downtown core (adjacent to the Sounder commuter rail station and parking garage) between 1999 and 2001 for $14 million. Purchase of the property enables the City to stimulate and control redevelopment of prime downtown property that was in industrial use. A majority of this property was in use by the Borden Chemical Plant, which at the time was a successful and profitable manufacturing plant in downtown Kent.
How was the Developer Selected?
After purchasing the property, the City, through a competitive process, selected the developer to continue discussions about the future development of the City-purchased site. A community panel reviewed proposals that were submitted by several developers. In addition, throughout the process, the City has hosted a series of open houses to gather public input to shape the vision and details for the project. These open houses have been attended by more than 500 individuals from the area. The developer applied for permits for the project in November 2002, and the City's Hearing Examiner conditionally approved the project in January 2003.
In January 2004 the City Council approved the sale of property to the developer for construction of Phase I of the project. On June 29, 2004, the City closed on the sale of the first 10.5 acres (out of 18.2) to Tarragon. Tarragon purchased the balance of the property in December 2005, which will allow them to construct Phases II, III and IV.
What is the City Investment and Return?
In addition to purchasing the property, the City committed resources to the project by completing an environmental review process for the site. In July 2002, the City Council adopted a "Planned Action Ordinance", which spells out the environmental mitigation that will be required as part of development of the site. Finally, the City invested $2.2 million in infrastructure improvements to the site, including environmental clean-up and construction of Ramsay Way, a street which will is the pedestrian and vehicle front door of the project. City efforts to build this key piece of infrastructure have been bolstered by two significant grants: $900,000 in federal transportation funds and $900,000 in state economic development funds. Groundbreaking for the new street occurred on August 13, 2002.
Kent Station is a once in a lifetime opportunity to grow Kent's economy and to create a mixed-use destination downtown next to mass transit. Overall, the City is investing $17.3 million into the project which will become Kent's new economic anchor, is projected to create over 500 jobs and will provide a more vital and identifiable City Center with homes, jobs, services and shopping to serve the greater Kent community. The long-term payback revenues from the project will come from the phased sale of the land to the developer and tax revenues. In future articles we will look closer to see all that Kent has to offer. If your looking to
Buy or Sell a home in Kent, Please check out my website, I would love to help you find your new home.
Lonnie Snyder
REALTOR®
Keller Williams Realty Southeast Sound
Phone: 206-406-2710
Email:
Snyder@KW.comWebsiteBlogsite:
Lonnie Snyder is a full time real estate agent
and REALTOR® with Keller Williams Realty specializing
in Residential Real Estate for buyers and sellers
in Washington's Kent, Renton, Newcastle and South Bellevue.
