Gateway Development Construction May Begin Next Month
At Monday's City Council meeting a briefing was provided on the preliminary development agreement that would need to be agreed on between the City and the developer of the Gateway project.
From the meeting notes:
One slide in the presentation had a preliminary schedule as seen below. According to the schedule, work to retrofit the existing bridge near the Umpqua bank building, as well as site clearing and grading, could begin as early as April 2016. Utility construction would begin in May 2016 and construction of the Gateway Boulevard extension and Building #1 would begin in July 2016.
A couple of other items of note that were mentioned about the project:
- The total number of residential units has been slightly reduced to allow for a greater number of 3 bedroom and 2 bedroom/den units.
- The developer has worked on some preliminary ideas for an expanded plaza/park area at the NW corner of the 236th and the future Gateway Boulevard which would better tie in with Sound Transit's light rail station. See the "Terrace Green" image below.
- The developer had attempted to entice a grocer to lease a portion of the space in Building #1 but have been unsuccessful so far. Even so, 75% of the commercial space in the building have letters of interest from businesses.
- One of these businesses is a restaurant which the developer says is "a local family owned business with a national presence", "a name everyone would recognize"
- In addition to the restaurant, talks are also ongoing with a financial institution that would like to open a branch, a fitness related business and a daycare of some sort.
- Currently, the developer is estimating that the project will construct nearly $6 million worth of public improvements and the total project costs will be close to $110 million.