Lake Stevens Development Agreement

Mixed-Use

Lake Stevens

Lake Stevens Development Agreement
Client
Ridgeline Properties
Project Date
March, 2017
Total Acreage
22.11 Acres
Number of Parcels
6

The rapidly growing community of Lake Stevens has devoted substantial attention towards the revitalization and expansion of its downtown core. A large area of undeveloped land adjacent to downtown was sold by the City to our client for the development of a Master Development Plan. Since the site will be developed in phases, LDC assisted the client with the creation of a development agreement for the entire site which locked in development standards to provide consistency as the site is built out.. The assurance of consistent standards provides predictability for design and permitting of project phases and facilitated the marketing of the project to additional investors.

Going Above the Standard

LDC recognized that the City was nearing the adoption of new critical areas and stormwater regulations. Due to the extensive wetlands on the site, the new standards would potentially hinder the realization of the planned business district envisioned by the City. LDC worked with the Client and the City to develop the agreement and received City Council adoption of the agreement in less than three months to ensure that existing standards would be vested and applied to the site’s development. Not only was adoption a fast and efficient process, it also ensured that development could occur while also preserving and incorporating wetlands as an open space resource.

Services We Completed