May 3, 2019

LMC pays $26M for 5 acres in Marymoor Village

Rendering by Encore Architects [enlarge]

Three buildings are planned, each with five or six stories.

As the DJC reported last fall, LMC is planning a large three-building apartment complex at 17611 N.E. 70th St. in Redmond. The city has upzoned that area, just east of Marymoor Park and the future Southeast Redmond Station, where light rail service will begin in 2024. The city now calls that area Marymoor Village.

LMC's project will be the first major development there, and is currently in design review and the permit process. (LMC is the new preferred moniker for Lennar Multifamily Communities.) This week it bought the land. King County recorded the nearly $26.4 million sale on Wednesday. That works out to around $123 per square foot.

Brokers weren't announced. The sellers of three parcels were members of the Carlson family, which had long owned the trapezoidal property. It's now occupied by small industrial buildings, with Washington Hydraulic among the tenants, which will be removed.

LMC Marymoor — just a working title for now — is being designed by Encore Architects. The program hasn't changed much since last fall: three buildings (north, west and east), with five and six stories that total 425 units. The tallest east building will overlook the East Lake Sammamish Trail. A few steps beyond that is the Whole Foods.

The three buildings, above 555 parking stalls (mostly underground, some structured), will be separated by a new transverse drive (Northeast 69th Street) and north-south courtyard that together form a T-shape. Multiple bike rooms will have about 528 stalls for tenants.

Closest to the light rail station (to the west) will be about 37,265 square feet of retail/commercial space in the north and west buildings.

The team also includes Weisman Design Group, landscape architect; KPFF, civil engineer; and Nine dot Arts of Denver, which is coordinating the public art. No start date or general contractor have been announced.

LMC recently broke ground on its Ovation, with JTM Construction as its general contractor, on the Town Hall block just east of the freeway on First Hill. Designed by Perkins + Will, the two 32-story towers will have 548 units, retail and underground parking.