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Economic Development
Citywide Strategy
The City of Lake Stevens is dedicated to improving, and diversifying the Lake Stevens economic and business climate. Our goal is to support a lively, active city where people can live, work, and play. Discover just how dedicated Lake Stevens is to ensuring the growth is positive and constructive.
The reports and findings below are the foundations for creating the ‘road map’ that will move us forward.
Reports and Findings
In 2010, the City Council implemented an economic development strategy focused on creating plans for specific growth centers to enhance opportunities for economic success that support the community and visitors.
Since then, the City has adopted three subarea plans and is currently developing an infrastructure analysis for its industrial center. Each plan emphasizes the unique characteristics of each area to expand the economic vitality of the city and provide different opportunities for job creation, shopping, dining, services, and recreation. Reports from the initial efforts follow:
- Lake Stevens Economic Development Strategy
- Lake Stevens Economic Assessment
- Lake Stevens Retail Forecast & Leakage Analysis
To continue its focus on expanding the economic health of the city, the City Council recently hired Urban3 and Retail Strategies. Urban3 developed an economic analysis for Lake Stevens that provided metrics to understand the fiscal health of the city and its subareas in comparison to other regional markets.
In 2022, the City began working with Retail Strategies, a national recruitment firm, to help identify national firms that may be a good fit for the Lake Stevens Market. The primary reports developed by each firm are provided below.
- Urban3 – Economic MRI and Projections
- Retail Strategies – Market Guide
- Retail Strategies – Demographic Overview
- Retail Strategies – Tapestry Segments
Other actions that the City has taken include the reinvestment in its parks and infrastructure citywide to support economic growth. The City has sold unneeded property along 20th Street SE slated for commercial development and recently sold a property in the downtown core that will result in a new three-story mixed-use building.
Property Sale
The City is currently offering for sale a prime piece of commercial property, at the corner of Market Place and 99th Ave NE. The property is 2.9 acres in size with easy access to state highways, transit, services, neighborhoods, and recreation. The City of Lake Stevens is requesting interested investors submit a letter of interest to purchase and develop this property.