Kenmore’s Lakepointe development talks collapse

A representative of the potential developer said it may be close to being dead.

  • Monday, November 12, 2018 3:44pm
  • Business

Talks between the property developer Weidner Apartment Homes and the city of Kenmore about the Lakepointe development project were suspended as of Nov. 1 according to a press release from the city sent out last Nov. 9.

The city had previously been in discussion with Weidner to create a development plan. Lakepointe sits on more than 50 acres currently being used as an industrial site on a spit of land at the mouth of the Sammamish River where it meets Lake Washington. The property is largely vacant and plans to develop on it have been considered over the past few decades.

City officials were not available Nov. 12 due to Veterans Day, and this report will be updated online as soon as more information is available. Formal negotiations with Weidner have been stopped and the city’s press release stated it will continue to discuss the future of the property with Lakepointe’s owner, city residents and evaluate the possibility of a future public-private partnership.

“We appreciate Weidner’s time and resources that they have put into exploring Lakepointe’s development potential,” city manager Rob Karlinsey said in the statement. “Mr. Weidner and his team have been fantastic to work with and have provided valuable and practical insight and perspective. We know a lot more about what it’s going to take for a successful Lakepointe development to happen.”

The Reporter has submitted a public records request for communications between the city and Weidner, as well as between the city and another business in the area that had expressed concerns about potential plans in a draft parameter agreement the Kenmore City Council was presented with before the cessation of talks with the developer. However a representative of Weidner, who wished to remain anonymous, said the project had completely stalled.

“I don’t know if it’s dead in the water, but it’s starting to drift that way,” he said during a Monday interview.

The Weidner representative would not give specific reasons for talks stalling, but said the $1.5 billion project’s complexity was part of it. Weidner has spent millions in studies of the property, but the representative said it was not coming together as they had hoped.

“It just seems like some of the major topics or items that we had been involved in conversation with had been kind of a stalemate,” he said. “It just didn’t seem like the pieces were landing in the right place.”

Kenmore has been trying to find ways to develop on the former Washington State Department of Transportation landfill since 1989. A previous failed effort ended in the early 2000s after the dot-com crash and a portion of the land is currently being leased by the nearby concrete company CalPortland as a storage facility.

A feasibility study was completed in August for the most recent effort. Weidner had been working with the city for around three years to figure out a way forward. Additionally, Kenmore council had given staff direction on a draft parameter agreement for the project on Oct. 22.

More in Business

Change to U.S.-backed condo loans comes as summer market wraps up

A monthly real estate snap shot by John L. Scott Real Estate.

Courtesy photo 
                                Mercer Island financial adviser Bob Toomey recently summited Mount Shasta in California.
Financial success and mountaineering

The steps to achieving financial success mirror mountain climbing.

Real estate market holds steady as summer continues

Suburbs are on the rise, as many millennials may be priced out of city cores.

The new Bothell Friday Market will run from 3-8 p.m., every Friday through Sept. 27. Stephanie Quiroz/staff photo
New Bothell Friday Market opens

Bothell Friday Market will run every Friday through Sept. 27

Kiddie Academy locations on the Eastside win national recognition

Six locally owned educational child care centers received an award for brand excellence and customer service.

Selection and steady sales characterize local market

Buyers can enjoy additional selection this summer as they look for the home of their choice.

The Bothell Kenmore Chamber of Commerce honored the Country Village owner as member of the month after it closed at the beginning of June. Kailan Manandic / staff photo
Eastside business booms with summer options

Locals can visit numerous new developments this summer, all within Eastside communities.

First & Main Design Market offers a broad assortment of vintage and artisan built furniture pieces. Each piece is specifically and carefully selected. Stephanie Quiroz/staff photo
First & Main Design Market opens in Bothell

The new destination store offers retail furniture, vintage treasures, and professional interior design services.

Just Get Me Started founder Suzanne Tseng participates in one of the weekly workshops that taught locals how to create intricate chalk art.
Kenmore’s Tseng helps locals ‘just get started’

Suzanne Tseng launched her business Just Get Me Started to help locals pick up hobbies and skills.

From left: Craig Olson, Joan Schrammeck, and Paula Paula DelGiudice with a solar panel. Stephanie Quiroz/staff photo
Little Bit in Redmond goes solar

Northwest Electric and Solar (NWES) of Kenmore donates a solar energy system to the therapeutic riding center.

Microsoft reveals project criteria for $500 million affordable housing funds

The company will soon accept applications for projects related to affordable housing on the Eastside.