New development in Des Moines Creek-West prioritizes local jobs and sustainability

Developed in partnership with the City of Des Moines, the project supports more than 600 full-time jobs, protects local wetlands, improves the regional trail and adds to urban forest cover

SEATTLE — Advancing its equitable recovery strategy, the Port of Seattle Commission (POS) today approved the approximately 20-acre land lease west of the already thriving Des Moines Creek Business Park. The project, envisioned in partnership with the City of Des Moines and Panattoni Development Company, prioritizes local jobs and sustainable development.

Project highlights include the ability to support over 600 full-time jobs and sustainable design elements that protect local wetlands, improve the regional trail network and replace impacted trees at a 3:1 ratio. City of Des Moines will use its recently adopted Urban Forest Plan (funded by the Port of Seattle) to identify where new trees will be planted under the guidance of the Urban Forest Plan.

The final section, the Des Moines Creek-West project, adds to the nearly decade-long collaboration with the city beginning in 2014 that includes light industrial logistics and distribution facilities as well as the new regional headquarters from the FAA, most of which was also developed by Panattoni. In total, the global developments are expected to create more than 4,000 jobs.

“This project adds to the port’s commitment to an equitable recovery with development that supports jobs and improves habitat,” said Seattle Port Commissioner Sam Cho. “The Port is using its property specifically to promote an equitable recovery in our communities by helping to limit sprawl, attracting and retaining local businesses, and preserving jobs in King County. This project will not only have local economic benefits, it will also play a small part in alleviating some of the immense and complex pressures on the global supply chain.

“The City is grateful for this partnership. This project is good for all parties, and we look forward to continued partnership and success. » said Des Moines Mayor Matt Mahoney.

The property’s environmental sustainability efforts include:

  • 4.5 acres of the site contain wetlands that will be mitigated and preserved in cooperation with the City of Des Moines.
  • When completed, the development will improve access to the regional trail system, with new connections to the Des Moines Creek Trail to the north and the Barnes Creek Trail, and will effectively reduce the burning and crime issues currently plaguing the property. and the neighborhood.
  • The development will support sustainability through the use of LEED or better standards for building performance as well as enhanced protections of the existing ecology on site in coordination with port environmental staff.

The port selected Panattoni Development Company (PDC) Seattle to manage the project. Panattoni is one of Puget Sound’s leading industrial developers and investors in commercial real estate with extensive port experience on aviation-oriented products, including other highly successful projects in the Des Moines Business Park. Creek. PDC has developed or acquired over 525 million square feet of light industrial space, has been in business for 35 years and currently has 61 projects under construction worldwide.

“Panattoni is very pleased to have been selected by the Port of Seattle to develop this property,” said Len Psyk, Senior Development Manager, PDC. This will allow us to add another successful project to the portfolio of industrial buildings we have completed in the Des Moines Creek Business Park, as well as the FAA Regional Headquarters office building. We look forward to working with the City of Des Moines and the Port. »

History of Des Moines Creek Activity Park

The Des Moines Creek Business Park has seen strong demand among businesses to locate there. The new FAA regional headquarters is at the site which now supports 1,600 employees. Greencore Group, a leading international convenience food manufacturer, is also located in the business park with 400 employees. Other businesses include a Partner Crackers production plant, warehousing/distribution for K2 Sports, PODS Moving & Storage, XPO Logistics, Hearthside Food Solutions, Partners Bakery and Banzai Sushi.

The DMCW property was originally purchased to support the development of SEA Airport’s third runway. Last year, the port added excess property from the Washington State Department of Transportation’s SR509 project to complete the overall project footprint.

About Panattoni Development Company

Panattoni Development Company, Inc. is one of the largest privately held, full-service real estate development companies in the United States, Canada and Europe. Since inception, we have successfully developed over 544 million square feet of industrial, office and retail space in over 278 cities. Panattoni is proud to be Washington State’s most active industrial developer. Panattoni Seattle has 19 industrial projects – totaling SF12.2 million – currently in development with an additional SF11.8 million in the feasibility and due diligence phase. Over the past year, the Seattle office has initiated an impressive number of new transactions: multiple land purchases, new leases and more than 1.1 million square feet of building sales which continue to place Panattoni at the forefront of business development in the Pacific Northwest.

About the Port of Seattle

Founded in 1911 by popular vote as a special purpose government, the Port of Seattle’s mission is to promote economic opportunity and quality of life in the region by advancing trade, travel, commerce and creation. jobs in a fair, responsible, and environmentally responsible manner.

The port owns and operates the Seattle-Tacoma International Airport (SEA), Fisherman’s Terminal – home of the North Pacific Fishing Fleet – and public marinas. The port also has two cruise ship terminals, a grain terminal, real estate assets and ocean cargo terminals through its partnership with the Northwest Seaport Alliance.

Port operations help support nearly 200,000 jobs and $7 billion in wages across the region. Over the next 15 years, the Port’s Century Agenda aims to create an additional 100,000 jobs through economic growth while becoming the nation’s first green and energy-efficient port. Find out more on the port’s website.

Contact

Perry Cooper | SEA Airport Press Officer
(206) 787-4923 | cooper.p@portseattle.org


Source link

Comments are closed.