City of Kent Outlines 2015 Economic Development Strategy

Kent City logoEconomic Development Activities that promote the creation of good jobs lead to workers who can afford a mortgage. That’s important for REALTORS® because most Buyers need a mortgage in order to close the real estate transactions that produce commissions for REALTORS®.

In a presentation to the City Council’s Economic and Community Development Committee, Ben Wolters (who leads the City of Kent’s work on Economic Development Initiatives) said he anticipates the City will focus this year on continued implementation of the City’s Economic Development Plan and accompanying strategies, as well as the acquisition, sale or development of key properties in the city.  

The City’s focus is broad-based and includes not only facilitating the development and completion of major job-producing projects, but also addressing industrial lands & zoning, transportation, land use changes to support economic development, code enforcement, code amendments, Sound Transit planning in connection with the South Corridor (include Transit-oriented development), and enhancing the capacity of city staff to assist in facilitating development to expand the job base in the City.

Wolters told City Council member that research is ongoing on the Jones-Lang-La-Salle (JLL) market analysis for the Riverbend site. Wolters indicated that in light of current city land-use plans, JLL has determined that the best use and possible opportunities for the Kent Riverbend site (which will likely generate the most revenue and return on investment) will be a build-to-suit office, an office built for a particular user, or a phased mixed-use multifamily and commercial development. The city will continue to work with Jones-Lang-La-Salle to move the development of the Riverbend site forward.