Aug 30, 201605:44 PMBlog
Bellevue firm exploring options on former Weyerhaeuser property
The 430-acre Weyerhaeuser property purchased by nationwide real estate and investment firm IRG last February is continuing to show new signs of movement.
Earlier this month, Preferred Freezer Services announced development of a 314,424-square-foot warehouse, distribution and processing center on 19 acres of the property, where Orca Bay Seafoods will locate its new 75,000-square-foot headquarters next summer. Now KG Investment Properties — a Bellevue-based commercial real estate developer — has put its oar in the water, so to speak.
On Aug. 3, the firm submitted a pre-application conference request to the City of Federal Way to discuss with the city’s Development Review Committee its proposal for a 721,000-square-foot warehouse/office building located between Weyerhaeuser Way South and Interstate 5 and north of the Weyerhaeuser Technology Center.
Executives from KG Investment Properties will meet internally with the city’s Development Review Committee Thursday morning, when KG will have the opportunity to discuss its project and understand the development requirements. Following completion of the pre-application, KG will have the opportunity to submit a formal application.
At 7 p.m. on Sept. 1 in council chambers the Federal Way City Council will hold a study session open to the public to discuss the processes in place to address development requests on IRG property.