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A Game Changer in Local Real Estate: Five-Tower Condo Project Near Seahawks' Renton Facility

Bosa Development's Ambitious Waterfront Vision 

Seven years ago, after over two decades of environmental studies, Renton approved the smaller, 692-unit development proposal. With the property entitled and vested, the longtime owners, the Baxter and Cugini families, were ready to sell and in a bold move that's stirring conversations among Renton residents, Bosa Development has unveiled plans for a transformative mixed-use waterfront campus. This project isn't just any development; it aims to reshape the Renton skyline with condominium towers reaching up to 23 stories, a significant leap from the city's previously approved six-story buildings. It's a larger project than what the city approved several years ago. 

The proximity of Bosa Development's proposed waterfront campus to the Seattle Seahawks' Virginia Mason Athletic Center cannot be understated in its potential significance for the team and its community. This ambitious project, just a stone's throw away from the team's training facility, could herald a new era of synergy between Renton’s residential expansion and the Seahawks' longstanding presence in the area.

The development could serve as a catalyst for increased local support and fan engagement. The presence of residential spaces so close to the training center might encourage more fans to move to the area, thus strengthening the local fan base and creating new opportunities for community events, meet-and-greets, and team-sponsored activities.

The allure of living near a major sports facility, coupled with the luxury and convenience offered by the new condos, is expected to drive demand in the local real estate market. This heightened demand is likely to lead to an increase in property values, benefiting homeowners and investors alike. Properties in close proximity to both the waterfront and the athletic center will become particularly coveted, translating to premium pricing and greater investment returns.

Bosa Development has been meeting with Renton residents about the company's plan for a mixed-use waterfront condominium which can change Renton's development indefinitely.

The Project in Detail

  • 692 residential units in six-story buildings vs. 850 for-sale condos in five stories between 16 and 23 stories.

The proposed development stands out not only for its height but also for its scale, offering 850 for-sale condos spread across five towers, contrasting sharply with the earlier approval for 692 residential units. Located on the 21-acre Quendall Terminals site, a piece of land with a complicated legacy of contamination, this project promises a new chapter for the waterfront, just south of the Seattle Seahawks' Virginia Mason Athletic Center.

The cleanup of the property, contaminated by decades of creosote manufacturing and later for storing crude and waste oil and diesel, is ongoing.

  • Reactions were mixed and controversial criticisms were received.
  • According to a fact sheet from the U.S. Environmental Protection Agency, the estimated cleanup cost totals $106 million.
  • A spokesperson for Renton mentioned on Monday that while Bosa has yet to submit a formal application, city officials are informed of the company's ongoing due diligence in the region.
  • Quendall Terminals has been renamed and now operates under Lake Washington East LLC, with the Environmental Protection Agency overseeing the operations.

Community Reactions

During a recent outreach call, the community's feedback highlighted concerns over the project's scope and its fit within Renton's suburban fabric. During the company's Feb. 22 outreach Zoom call with neighbors, some people voiced concern about the scope of the project, especially the height.

"There is nothing on this side of Lake Washington that's that tall or that big," neighbor Jon Maron said. "We're not in the middle of the city. That's the reason we all moved over here." He added the concept doesn't match Renton's character: "I don't really understand how we can have 23-story buildings (in) a suburban landscape."

Environmental Considerations

The site's past as a hub for creosote manufacturing and later, oil storage, has left a legacy of pollution, with ongoing cleanup efforts estimated at $106 million. As Bosa Development navigates these challenges, with the Environmental Protection Agency's oversight, the project's environmental footprint remains a critical consideration.


Looking Forward

With no formal application submitted yet, the project is in its early stages. However, the city of Renton is keenly watching Bosa's due diligence efforts. This development represents a potential turning point for Renton, offering a vision of urban density and waterfront living that could redefine the community's future. 

Beyond the direct effects on property values, the project is expected to stimulate economic growth by attracting businesses that cater to the new residents and the Seahawks' fanbase. This economic activity can increase the value of commercial properties and land in the area, further fueling the real estate market.  The scale and ambition of Bosa Development's project could set a new benchmark for future real estate developments in Renton. As the city sees the positive impacts of such a large-scale, mixed-use development, it could pave the way for more investments, further enhancing land values and the overall attractiveness of the area.

As Bosa Development's plans unfold, the Renton community stands at a crossroads. Will this ambitious project bring a welcomed urban vibrancy and rejuvenation to the waterfront, or will it clash with the suburban character cherished by its residents? Only time will tell, but one thing is clear: the conversation about Renton's future skyline and character is just beginning as this development is set to reshape the local landscape, offering promising prospects for homeowners, investors, and the community at large.

Learn more: https://www.bizjournals.com/seattle/news/2024/03/11/bosa-five-tower-condo-project-renton-seahawks.html?utm_source=st&utm_medium=en&utm_campaign=ae&utm_content=PS&j=34661792&senddate=2024-03-12&empos=p6


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