Downtown Kent’s Revitalization is moving closer to reality after Goodman Real Estate Inc. of Seattle purchased the City Center property for $902,000 on Tuesday. The parcel formerly contained an unfinished parking garage left by a prior developer unable to complete its project.
Goodman and its architect, Studio Meng Strazzara, will construct a five-story, mixed-use development at the corner of Fourth Avenue North and West Smith Street. To be named “the Platform” due to its proximity to commuter rail at Kent Station, it will consist of 176 urban style apartments, 3,100 square feet of retail and 35 public parking spaces in addition to the parking set aside for residents.
And this developer is eager to move forward with the Kent City Center project according to George Petrie, Goodman’s president and CEO.
“Our confidence in the regional economy and Kent is strong,” Petrie said. “We are particularly excited to be the first new multifamily project in downtown Kent (and) want to start showing apartments by this time next year.”
The city and Petrie previously agreed to a two-year lease with the option to purchase. Combining this sale’s proceeds with the cost to demolish the unfinished structure left by the previous developer, the sale is worth $1.2 million.