May 22, 2017 Comments Off on 214-Acre, $670M Seattle MXU Development Approved Views: 444 National News, Oregon, West

214-Acre, $670M Seattle MXU Development Approved

The City of Covington, WA unanimously approved the more than $670-million LakePointe Urban Village, a 214-acre, master-planned, mixed-use community 30 miles south of Seattle. The development team includes Kirkland, WA-based Oakpointe Communities and San Diego-based Presidio Residential Capital.

They plan to develop an 850,000-square-foot regional entertainment and lifestyle center, a 130-key hotel and up to 1,500 single-family and multifamily residences. Development is slated to commence in early 2018 on the site located at Highway 18 and Southeast 256th Street.

The centerpiece of the community, designed by Irvine, CA-based KTGY Architecture + Planning, is a peninsula extending into a 20-acre lake with retail shops, restaurants, residences, a pavilion park, open space and trails.

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