PROJECT

New Mixed-Use Vision
& Property Assembly
Since 2017, Stowe Development & Strategies has guided the City of Lakewood to develop a new vision for redevelopment of 35 acres along Pacific Highway. The vision for this area, called Lakewood Landing, is for new high quality mixed-use development offering retail, office, and potentially housing. The City’s desired development of Lakewood Landing requires the aggregation of the current Washington State Department of Transportation (WSDOT) maintenance site and 10 private parcels.

We helped the City negotiate an agreement with WSDOT allowing the City to market and to facilitate the sale of the WSDOT property along with any abutting properties (based on property owner interest). Under the agreement, the WSDOT property can be sold at fair market value to a single entity or person representing the interests of the abutting property owners (e.g., City of Lakewood).  We are currently working with the City on funding options/strategies for a new WSDOT maintenance facility allowing for the redevelopment of the current maintenance facility in Lakewood Landing and with other property owners to gain their preliminary support to market and sell their individual properties to a prospective purchaser/developer under a Development Agreement with the City.

Location/Client: City of Lakewood, Washington.

Project Team: Lee & Associates and Tacoma Design Collaborative.