A Study of Development Properties Around Seattle-Tacoma by shwarma


									NEST Study

A Study of Development Properties
Around Seattle-Tacoma International Airport
                                      DECEMBER 2004
              In 2003, the Cities of Burien, Des Moines and SeaTac, the Port of Seattle (operator of Seattle-
              Tacoma International Airport) and the Puget Sound Economic Development District created the
              New Economic Strategy Triangle Partnership (NEST). The partnership was formed to explore the
              potential for economic growth in South King County communities surrounding Seattle-Tacoma
              International Airport. The study was funded by a $96,900 grant (#07-69-05316) from the U.S.
              Economic Development Administration. The Cities and the Port provided matching resources.
              The study identified eight underutilized properties located near the Airport to investigate for future
              development. In a year-long effort, the NEST partners and consultants worked collaboratively
              to identify the benefits, opportunities and constraints associated with development. This work
              included analyzing market conditions, development constraints, the sufficiency of existing infrastruc-
              ture, vehicle access issues, size and placement of buildings, financial feasibility for development, uses
              most appropriate for the properties, and job creation estimates.
              Based on this work, preliminary development plans and pro forma analyses were prepared for each
              of the NEST properties considered feasible for future development. The plans are conceptual in
              nature and represent a single development scenario for each property. The purpose is to provide an
              indication of the relative development needs and associated development potential for each property.

              This study was produced by the Central Puget Sound Economic Development District in cooperation with the Puget Sound
              Regional Council and GVA Kidder Mathews.
              The CPSEDD and PSRC fully comply with Title VI of the Civil Rights Act of 1964 and related statutes and regulations in all
              programs and activities. For more information see http://www.psrc.org/about/titlevi/index.htm or call (206) 464-6175.
              Sign language, and communication material in alternative formats, can be arranged given sufficient notice by calling
              (206) 464-7090.
              Additional copies of this document may be obtained by contacting:     Puget Sound Regional Council • Information Center
                                                                                    1011 Western Avenue, Suite 500
                                                                                    Seattle, WA 98104-1035
                                                                                    Phone: (206) 464-7532
                                                                                    Email: infoctr@psrc.org
                                                                                    Web site: www.psrc.org
              This NEST Study Final Report is available in paper and compact disc formats. Copies of appendices in paper format are
              provided for use as reference documents in the PSRC Information Center.
              The findings of this study are conceptual in nature; they are based on available information and consultants’ judgments. The
              real estate analysis has been completed as a Broker’s Price Opinion and is not an appraisal. Given the preliminary nature of
              the investigations, further study and verification of all matters deemed to be material is advised.


NEST Study A Study of Development Properties Around Seattle-Tacoma International Airport

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