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Costco to open store at old Lynnwood High School site

The new store, which could open in two years, will be built at the site of the old Lynnwood High School.

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By Bill Sheets
Herald Writer
Published:
LYNNWOOD — The mystery tenant across from the Alderwood mall at the former Lynnwood High School site: Costco.
The Issaquah-based chain plans to build a 160,000-square-foot building at the site, according to Cypress Equities, which is developing the land.
If all conditions are met, Costco could open in two years.
Cypress Equities said the new Costco will complement the smaller business Costco located on Highway 99. The two nearest Costco stores are in south Everett, in the Silver Lake area, and in Shoreline near the Snohomish-King county line.
The Costco is expected to occupy 15 acres of the 40-acre site, and be part of a mixed-use development called Lynnwood Crossing that includes restaurants and other shops.
Rumors began swirling in October when the Edmonds School District, which owns the land, announced plans for a major developer at the site, but wouldn’t name the tenant. Cypress handled business recruitment, school district spokeswoman D.J. Jakala said.
“We are thrilled that Cypress is moving forward as intended in spite of the historic economic downturn,” Jakala said. In Costco, “we have obviously a business that is well established, international but happy to have its headquarters locally. They treat their employees well and we are pleased with their decision to have their business located on our property.”
Possible lease terms were not available Wednesday. Jakala said the lease income would go into the district’s capital fund as required by state law. It cannot be used for salaries or other operations, she said.
Earlier, speculation circulated about all sorts of big-box stores, including IKEA, coming to the property north of the mall.
The former high school site at 3001 184th St. SW has been vacant since 2009, when students moved to the new $99.8 million Lynnwood High School on North Road in unincorporated Bothell.
The school district spent more than a year negotiating with Cypress. In 2009, citing the downturn in the economy, the company withdrew its original development proposal for boutique shops, a hotel, residential and commercial space.
The developer now will work with the city of Lynnwood to iron out a development agreement. The project will have to undergo environmental studies. Changes also would have to be made to the city’s comprehensive plan and zoning, city economic development director David Kleitsch said.
He said if all goes smoothly, the process could be completed during 2011 and ground could be broken in early 2012.
Costco would be the first piece of the Lynnwood Crossing proposal, and would bring jobs and sales tax revenue to the city, Kleitsch said.
Bill Sheets: 425-339-3439; sheets@heraldnet.com
Story tags » RetailLocally Based Company

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