Final Burien Town Square parcels bought
Sat, 01/19/2008
The final acquisition of property for development of Burien Town Square was completed last week.
Urban Partners LLC, in a joint venture with Real Estate Capitol Partners LP, announced it closed on the purchase of 3.26 acres of land from the city of Burien.
That purchase completes the acquisition of property private development by Urban Partners for the town square project.
It also fulfills Urban Partners' 2005 agreement with the city to develop Burien Town Square, a 10-acre, mixed-use residential and retail community with the goal of revitalizing Burien's downtown core.
Construction of Burien Town Square started last spring, with Phase I private development consisting of a seven-story building with 124 condominium homes and 20,000 square feet of ground-floor retail, along with 209 parking stalls.
Public development includes a new joint Burien City Hall/King County Regional Library building on the northwest corner of Southwest 152nd Street and Fourth Avenue Southwest. Construction is scheduled to begin in March. 2008.
A new one-acre city park also is part of Phase I, which is expected to open sometime this fall.
Plans for the Phase II site consist of three parcels offering at least 180 housing units of various styles, including condominiums and town homes, the majority of them over shops and restaurants; 20,000 to 60,000 square feet of retail; and structured parking.
GGLO of Seattle is the residential and retail design architect.
Construction of Phase II is set to begin this year with completion scheduled for summer of 2010.
"Burien Town Square is more than just the centerpiece of Burien's new thriving city center and downtown core. It's also an economic engine," said Mayor Joan McGilton.
"Burien is experiencing phenomenal economic growth due in large part to Burien Town Square and all that that it offers, from the condos, retail shops and restaurants to a new one-acre city park, a regional public library and city hall.
"New businesses, restaurants and shops are bringing in new residents and revenue to our community, and we know more good things are ahead with the opening of Burien Town Square in 2008."
Julie Benezet, managing director of Urban Partners' Northwest regional office, noted, "Many cities are attempting to bring new growth to their urban cores, but few downtown revitalization projects have the critical mass, the variety of uses and activities, and the heart and soul of downtown Burien.
"Burien Town Square will truly be a place where people want to spend their highly valued leisure time."
Since the city's incorporation in 1993, economic revitalization of Burien's central business district has been a top priority for city leaders, who have long envisioned a central gathering place in the heart of the community.
Since Los Angeles-based Urban Partners was selected as the developer in 2003, a number of new businesses have opened shop in the immediate vicinity of the project, including nearly a dozen restaurants and a brewpub.
For more information, visit www.BurienTownSquare.com or www.ci.burien.wa.us.