King County Executive Dow Constantine today praised County Council adoption of his proposal to move the County a step closer to the long-held vision of developing mixed-use space near the stadiums in Seattle.
King County Executive Dow Constantine today praised County Council adoption of his proposal to move the County a step closer to the long-held vision of developing mixed-use space near the stadiums in Seattle. What's known as the North Lot development is projected to create up to 2,700 construction jobs and generate nearly $727 million in economic activity in Pioneer Square and surrounding neighborhoods with housing, office, hotel and retail spaces on top of what is currently a County-owned parking lot.
"The thousands of jobs and millions of dollars in economic activity created by the construction and by new commercial, retail and housing spaces are a sharp and welcome contrast to the current sea of asphalt," said Executive Constantine. "I am pleased that, through this project, we can contribute to getting people back to work and getting the local economy back on track."
Executive Constantine transmitted the proposed legislation to the King County Council on June 30. The project must contain at least 100 units of affordable housing. Council adoption ensures that the 30 on-site affordable housing units required as part of the project will be placed in the West Block of the site, which will be constructed first. The project also requires 70 affordable housing units that can be built on-site or nearby as part of a later construction phase. The legislation also addresses the need to provide replacement parking for the football stadium and exhibition center for the spaces that will be lost as a result.
Purchased by King County more than 30 years ago for parking for the old Kingdome, the County sold the land to North Lot Development, LLC, in 2007 for mixed use and housing development. Planning, permitting and design has been underway since then. Construction is expected to start later this summer.
The total project is expected to create nearly 2,700 family-wage construction jobs and nearly $727 million in economic activity.
Development plans anticipate the North Lot will house 400,000 square feet of office space, 35,000 square feet of retail space, and 800 units of family-oriented housing, of which 100 will accommodate affordable housing for tenants at 70 percent of the medium income or below.
Located near the King Street train station and several major bus lines, the North Lot construction will create an urban development in a walkable neighborhood near the downtown center.
"This project is a model for more efficient land use through compact, mixed-use, mixed-income, transit-oriented development," said Executive Constantine. "I look forward to the jobs and opportunity it will create."