Economic and Community Development
Sale of Kent City Center property complete
Goodman Real Estate, Inc. to begin construction of The Platform by months end
Kent, Wash. – June 5, 2013 – Kent continues to revitalize its downtown with the sale of its City Center property to Goodman Real Estate, Inc. of Seattle. The city and the developer previously agreed to a two-year lease with the option to purchase. The sale closed June 4.
Goodman and its architect, Studio Meng Strazzara, will construct a five-story, mixed-use development consisting of 176 urban style apartments, 3,100 square feet of retail and 35 public parking spaces in addition to the parking set aside for residents.
Located at the corner of Fourth Avenue North and West Smith Street, the development will be named ‘The Platform’ as an acknowledgement to its proximity to commuter rail and Kent Station.
The existing footprint of the city’s Town Square Plaza park will remain unchanged.
Goodman is eager to move forward with the Kent City Center project according to George Petrie, Goodman’s president and CEO.
“Our confidence in the regional economy and Kent is strong. While we have numerous projects under development in the Seattle area, we are particularly excited to be the first new multifamily project in downtown Kent. We want to start showing apartments by this time next year,” Petrie said.
Petrie says Goodman plans to add a roof top amenity to the development.
“With the spectacular view of Mt. Rainer, a roof top recreation area will be a tremendous addition to The Platform and a great draw for future residents.
“We’re also working with a nationally branded retail tenant to occupy the commercial space. As part of the design process working with this tenant, we are adjusting the building to allow for outdoor seating which will further activate that corner. We are excited about this opportunity and the vitality it will bring to The Platform,” Petrie said.
“I am thrilled that such a well-respected developer as Goodman Real Estate will help us meet the demand we have for quality, modern downtown apartments,” said Kent Mayor Suzette Cooke. “As the city’s new mayor, I inherited the unfinished parking garage seven years ago. Even after the city secured the property through foreclosure and tore down the garage, this prime corner remained an eyesore. Now, The Platform will complement Kent Station, ShoWare Center and Town Square Plaza as public attractions.”
Goodman paid the city $902,000 for the property. Combined with the cost to demolish the unfinished structure left by the previous developer, the sale is worth $1.2 million.
Kent’s Community and Economic Development Director Ben Wolters says the new and vibrant activity downtown will be a benefit to the community overall.
“I’ve often said downtown, market rate housing is the third leg of the stool needed to really solidify the revitalization of the area. Having an urban, mixed use development next door to Town Square Plaza will strengthen the link between Kent Station and historic downtown. This much needed residential development will enliven the area and provide our downtown merchants with regular customers that don’t exist today,” Wolters said.
Council President Dennis Higgins said we’ve waited a long time for resolution on this key property. “The Platform builds on the success of other recent downtown developments, and will really help realize the vision for our downtown,” Higgins said.
Plans are being made for a public groundbreaking celebration in July.
Michelle Wilmot, City of Kent, Community & Public Affairs