In a significant move that promises to reshape the landscape of Redmond, Washington, a comprehensive redevelopment plan for the Redmond Town Center is set to undergo its first city design review this week. Spearheaded by global real estate firm Hines as the developer, in collaboration with Seattle-based architectural firm GGLO and project owner Fairbourne Properties, the project aims to transform the 21-acre retail core of the town center, introducing a sustainable and modern mixed-use development.
The proposed plan envisions approximately 1 million square feet of new construction, unfolding in phases over the next decade. The development is poised to breathe new life into the area, largely occupied by surface parking, by erecting four new buildings ranging from south near Bear Creek Parkway to the north, adjacent to the anticipated future light rail station. This development location hopes to preserve and enhance open spaces by creating a vibrant, green, and accessible urban environment.
The redevelopment initiative brings together a team that includes Magnusson Klemencic Associates as the structural engineer, Coughlin Porter Lundeen handling civil engineering, HWA Parking as parking consultants, and TenW as traffic consultants, according to a report in the Daily Journal of Commerce.
Two development tracks have been proposed: one focusing on residential units with around 942 apartments and the other blending approximately 491,050 square feet of office space with a reduced number of apartments, totaling around 424 units. The initial phase includes expanding an existing parking garage with a two-story addition to offset the loss of surface parking, adding approximately 316 parking stalls.
Subsequent phases envision the construction of mixed-use buildings, including office spaces, apartments, or a combination of both, alongside the introduction of around 40,000 square feet of new retail and commercial space. This approach not only aims to meet the diverse needs of the Redmond community but also to foster a dynamic urban center conducive to living, working, and leisure.
A standout feature of the redevelopment plan is its commitment to achieving LEED Platinum certification, the highest standard in environmentally sustainable construction.
In response to the pressing need for affordable housing, the project pledges that 20 percent of the apartments will be accessible to households earning 60 percent of the area’s median income. This initiative highlights a concerted effort to include affordable housing options within the development, ensuring a diverse and inclusive community.
Despite the introduction of new mixed-use buildings, the plan ensures that retail space removed during development will be replaced, maintaining the area’s commercial vibrancy.
Chicago-based Fairbourne Properties purchased the Redmond Town Center in December of 2019 for $192 million from DRA Investors, according to previous reporting by The Registry.
The Redmond Town Center is comprised of a two-level, 395,000 square foot, open-air mixed-use center, an additional two-level, 111,000 square foot department store that will be repositioned for office and retail uses, an additional 152,000 square foot community center, and a 34,000 square foot retail strip center.
The sale occurred in three transactions: The former Macy’s building and surrounding parking lot sold for $30 million, while additional parking and the strip mall portion, including shops such as Bed, Bath & Beyond, sold for $17 million, according to parcel data and public documents. The remainder of the center, which includes most of the Redmond Town Center itself, sold for $145,032,040.
DRA Advisors acquired the retail portion of the property from Macerich in 2013 for $127 million. The same year, the office portion—leased to Microsoft and AT&T—sold for $185 million to Shorenstein Properties.
Since its 2019 acquisition, Fairbourne sold portions of the Town Center to other investors. In early 2022, a portion of the Redmond Town Center was sold to WBMT Redmond LLC, affiliated with Daryl Vander Pol, Molly Oien, Collin Madden, and Kimberly Feir. The LLC also acquired the nearby Creekside Crossing retail center. In all, $44.2 million was paid for both properties.
Images courtesy of Redmond Town Center Project web site
