FOR IMMEDIATE RELEASE
Lynnwood City Council Approves Development Agreement for City Center Project
(LYNNWOOD, WA) April 22, 2015 - The Lynnwood City Council approved the development agreement for a 347-unit affordable housing apartment building in City Center. The development agreement with CityCenter Apartments LLLP addresses the Multiple-Unit Housing Property Tax exemption and Transportation Impact Fee exemption. This is the first project to receive the tax exemption and the second project to receive the impact fee exemption.
The CityCenter Apartments will be located across from the Lynnwood Convention Center in the City Center-Core zone at the SW Corner of 196th St SW and 37th Ave W. This 7-story apartment building, includes underground parking, gateway plaza improvements, public art and private resident amenities. Construction is anticipated to start this summer. This is the beginning of new transit-oriented development in Lynnwood's City Center.
About Lynnwood City Center
Lynnwood City Center is in the only Puget Sound Regional Council (PSRC) Regional Growth Center along Interstate 5 between Seattle's Northgate area and Everett. City Center will provide new high density development, pedestrian and bicycle connectivity, streets, parks and open spaces. The Lynnwood City Center accommodates new population and employment growth, and is home to the Lynnwood Convention Center and transit opportunities including the Lynnwood Transit Center, expansion plans for Sound Transit’s Light Rail system (Lynnwood Link) and future bus rapid transit. To learn more, visit www.ci.lynnwood.wa.us/CityCenter
About Lynnwood Economic Development
Our Mission is to serve as a catalyst for economic development that provides healthy businesses, quality employment opportunities and sustainable city revenues and to foster economic vitality through programs and projects necessary to implement economic development policies. To learn more, visit http://www.ci.lynnwood.wa.us/EconDev
About City of Lynnwood
Incorporated in 1959, Lynnwood is the economic hub of South Snohomish County. Situated at the convergence of interstates I- 5 and I-405, Lynnwood’s accessibility, variety of housing and employment options, colleges and outstanding park system attract a wide variety of businesses and residents. For its diverse population of more than 36,000, Lynnwood is a great place to live, work and play. Lynnwood Moving Forward: Our Community Vision – the City will be a regional model for a sustainable, vibrant community with engaged citizens and accountable government. Lynnwood is…a great deal more! http://www.ci.lynnwood.wa.us/
Contact
Janiene Lambert, City Center Program Manager
Email: jlambert@ci.lynnwood.wa.us
Phone: 425-670-5045
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