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The original item was published from 9/15/2022 3:21:34 PM to 10/8/2022 12:00:05 AM.

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Posted on: September 15, 2022

[ARCHIVED] Seeking Interested Investors To Develop Near Market Place and 99th Ave NE

Map of available Chapel Hill property

Lake Stevens is a rapidly growing community and with its surrounding areas, will grow to a population of approximately 50,000 and provide approximately 8,000 jobs by 2035.  

Residents and tourists enjoy easy access to many recreational opportunities like Lake Stevens, the largest recreational lake in the county with public beaches and boat launches, the Centennial Trail, and Cascade Mountains. Businesses locate here because of central access to major transportation routes and its growing population.  The City of Lake Stevens (Lake Stevens) is requesting interested investors submit a letter of interest (LOI) to purchase and develop a prime piece of commercial property, at the corner of Market Place and 99th Ave NE.  

The project site is 2.9 acres with great access to SR-9 and SR-204, is zoned Commercial District, and will support a variety of commercial uses including retail, mixed-use, professional/medical office, dining, and hospitality.

Responses to the request for an LOI will be evaluated, based on the ability of the developer to meet Lake Stevens’ desired outcome in a reasonable timeframe and the ability to purchase the property. 

The City reserves the right to interview interested developers or investors. The selected developer will be asked to enter into a development agreement and execute a purchase and sale agreement. The development agreement will cover desired land uses, timelines, and infrastructure costs. 

Final approval of an agreement will rest with the City Council. LOIs will be accepted until 4:00 pm, October 7, 2022. 

Please follow the links below for more details:

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