The city of Burien received on March 31 a payment of $233,300 from Town Square private developer Urban Partners.
City officials noted this payment signals that construction of the highly anticipated development planned for downtown Burien will soon be underway.
The deposit is for the Urban Partners’ purchase of city owned property where Town Square’s residential, retail and professional buildings will be built.
Mayor Joan McGilton said the deposit for the property is an important signal that Town Square is progressing.
“We’re excited to be moving forward with Urban Partners on this public/private partnership,” McGilton said.
Dan Rosenfeld, principal of Urban Partners, said that progress is being made on every aspect of the Town Square project.
“Our three-year partnership with the city continues to be successful,” he said. “The effort has been a public/private partnership in every sense of the word.”
Both the city and Urban Partners have met every deadline so far in their public-private partnership to build Town Square, city officials noted.
Burien met its financing and scheduling obligations last November when the city council approved Urban Partners' mixed-use housing and retail plan and funding for Town Square streets and infrastructure.
Now Urban Partners has cleared one of its contingencies in the agreement by depositing its down payment with the city.
Rosenfeld said construction on Parcel 1 could begin as early as this fall. Parcel 1 is the southwest corner of Town Square site where the former Gottschalks building is located.
Development of Parcel 1, the joint city hall/King County Regional Library building, and open park space all should be completed in early 2008, he added.
When completed in 2009, Town Square will have more than 300 condominiums and apartments, retail shops, restaurants, professional offices, the new city hall/regional library and a one-acre public plaza and park, which will become the community’s main gathering space.
The project is considered by local lawmakers to be a key element in the economic and cultural revitalization of downtown Burien.
Urban Partners is paying for the private portion of Town Square, with the city paying for streets and infrastructure, its share of the city hall/library building, and the public park.
No additional taxes are needed to complete the Town Square development.
For detailed information on Town Square, go to the city of Burien’s website at www.ci.burien.wa.us and follow the “Town Square” links.