Tue 26 Jan 2010
Over the course of the past year, Port Blakely Communities and Issaquah Highlands have continued to achieve milestones in development of this community. The Proliance Highlands Medical Center, Swedish hospital campus and YWCA Family Village are bringing local jobs, services and healthcare to residents. The opportunities provided by these organizations bring Issaquah Highlands closer to realizing the live/work/play urban village model. Many of you know that construction dates for The High Streets were pushed back in 2008 due to the economy. The retail sector crisis caused by the dramatic decline in 2007 holiday sales forced retailers to put plans on hold. As a result, our development partner in The High Streets, Opus Northwest, was unable to proceed. Those same economic conditions that shook up financial markets and the real estate industry have continued throughout 2009. The High Streets is part of the community’s vision to blend retail, commercial/office space and housing. To give a sense of history, the concept for The High Streets was conceived in 2005. Prior to 2005, Microsoft had an option to purchase the land, as well as the land where Proliance and Swedish are now located, as part of its Issaquah holdings. When Microsoft opted not to exercise the option in 2004, Port Blakely Communities worked with residents, businesses and local leadership to determine new options for the land. Since 2008, Port Blakely Communities has carefully examined opportunities for moving forward with construction of The High Streets despite the economy. We have also moved forward with projects, such as Swedish, that will attract other businesses and organizations to Issaquah Highlands. Today, Port Blakely Communities is exploring opportunities to form a joint venture with a new equity partner to develop the remaining commercial areas. Over the lifetime of Issaquah Highlands, Port Blakely Communities has successfully leveraged like-minded partnerships to fulfill the vision for the community. Consistent with this approach, we are speaking with organizations that share our values, and the values of Issaquah Highlands, to form a joint venture. We will provide additional updates to the community in the New Year and at the town hall meeting.
- New Swedish hospital to create over 1,000 jobs (pnwlocalnews.com)