The City of Redmond has entered into a purchase and sale agreement with Lake Washington Institute of Technology (LWTech) for LWTech’s property located at 6505 176th Avenue NE for $18.5 million.
The site is comprised of approximately 3.25 acres and includes a 20,491 square-foot facility that currently houses the Redmond Community Center at Marymoor Village. CROPLWTech has owned the property, located 15 minutes from the college’s main campus in Kirkland, since 1976. T the City of Redmond having leased the facility continuously since 2017, opening the Redmond Community Center at Marymoor Village in 2018.
“From this property’s earliest planning stages nearly a decade ago, our intention has always been for the City to make this purchase if and when the opportunity arose,” said Mayor Angela Birney. Purchasing the facility ensures all activities and programming currently offered at the Redmond Community Center at Marymoor Village can continue uninterrupted, while reducing costs for the City by $2.9 million over the building’s life when compared to leasing.
The post City of Redmond to Pay $19M for Campus Near Marymoor Park appeared first on Connect CRE.