This sale enables the City parcels to be combined with adjacent surplus property owned by the Edmonds School District. The assembled site enhances future redevelopment potential.
The parcels are located in the City Center-Core zone across 196th Street SW from the Lynnwood Convention Center, and west of the I-5 southbound on-ramp at 37th Avenue W. The property was originally acquired by the City for the construction of the I-5 interchange project. Following construction of the on-ramp, the remnant parcels were left with limited access and development feasibility.
Proposed for the property are a multi-family development in a six-story building with underground parking and a six-story Hilton Garden Inn. The proposed projects will be developed in accordance with City Center design standards and provide significant private investment within the City Center. Construction is anticipated to begin in 2015.
“We are very excited to see these vacant properties at our City Center Gateway being developed,” said Lynnwood Mayor Nicola Smith. “The proposed projects are an important catalyst for private investment in Lynnwood’s City Center. We look forward to a great deal more.”