Symphony is music to Federal Way's ears
Symphony is music to Federal Way's ears
Take a look at an artist's rendering of the former AMC Theater site across from the transit center in Federal Way.<br><br>The project, called "Symphony," will incorporate the site's 4.1 acres into mixed-use structures that include retail, residential, office space and parks.<br><br>The project expects to cost around $227 million.
Tue, 07/24/2007
Symphony strikes a chord with the Cty Council.
With a choice between two development teams who responded to a Request for Proposals for a key, 4.1-acre site in its redeveloping City Center, the Federal Way City Council voted last Tuesday to begin negotiations with United Properties of Vancouver, BC., which proposed "Symphony," a four tower, high-rise, mixed-use project that includes a one-acre public park.
After several councilmembers remarked on how fortunate the City was to have two compelling and competent proposals to consider, they selected United Properties "Symphony" by a 4-3 vote.
Their resolve, however, was unanimous to work together to ensure the best redevelopment project possible for this key site in Federal Way - one that will be both a success itself and a catalyst that induces continuing redevelopment of the Federal Way City Center.
As several councilmembers commented, both development teams are very qualified and proposed ambitious and exciting projects that would transform downtown Federal Way. In fact, councilmembers encouraged Seattle- and Dallas-based Alpert Capital, Ltd to continue to consider the Federal Way City Center for a project, such as their proposal, "Steel Lake Village."
During the exclusive negotiation process with United Properties, the City Council has directed City staff to focus on exploring the optimal ratio of rental-to-ownership residential units, as well as maximizing the amount of retail uses. In addition, negotiations should include the creation of design guidelines to address the appearance of the towers, the character of the pedestrian realm, and to ensure an open, welcoming, and truly public park.
As currently proposed, "Symphony" would include one 15-story and three 22-story towers and a park to be dedicated to the City. It would include a mix of condominiums, townhomes, apartments, retail, and office space. In addition, Highline Community College has indicated interest in occupying space in the project for its Federal Way campus.
The total cost of the project is estimated at about $227 million, with construction likely to span four phases. Pending the outcome of negotiations, construction on the first 22-story building will begin in June of 2008 and finish in November of 2009.
