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July 03, 2014

Costco in Lynnwood will be the start of a 40-acre mixed-use development

Daily Journal of Commerce

Journal Staff

Dallas-based developer Cypress Equities held a ceremony Wednesday to kick off construction of a Costco Wholesale store across the street from Alderwood in Lynnwood.

The 150,000-square-foot Costco will be on a 15.5-acre site at 3001 184th St. S.W.

The project is the first part of a 40-acre, mixed-use development called Lynnwood Place.

Long-term plans call for a total of 500 apartments, 192,000 square feet of retail, 188,000 square feet of commercial and entertainment space, and some office space.

Cypress will develop the site in phases.

The next piece to be developed is located south of Costco. This site is expected to have 93,500 square feet of retail, restaurants and entertainment; 344 residential units and parking for 577 vehicles.

Kidder Mathews is marketing the development.

The site is the former home of Lynnwood High School, which was rebuilt at another location. Proceeds from the new development will fund several projects for Edmonds School District, including replacing three schools, a district representative told the DJC last year.

© 2014 Seattle Daily Journal of Commerce

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