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Real Estate



Brian Miller
Real Estate Reporter
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March 28, 2019

On the Block: Cosmos has big plans for Lynnwood, Redmond, Renton… and eventually downtown Bellevue

Cosmos Development Co. is planning a 17-story, 349-unit apartment building at 18631 Alderwood Mall Parkway in Lynnwood. The city recently tweaked its zoning to encourage development near the former Alderwood Mall, now simply called Alderwood. Though, surprisingly, Oscar Del Moro of Cosmos says “there were no height restrictions” capping the development potential of the 1.9-acre site that Cosmos acquired in 1998 for almost $3.9 million.

Bellevue-based Cosmos recently demolished a three-story, 40-year-old medical office building on the property, and is now leasing it to the city for construction staging. In a separate municipal project, Beach Road is being reconfigured to better join the with mall entrance by the now-closed Sears. A small land swap with Cosmos is also involved.


 
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