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Published: Thursday, November 28, 2013, 12:01 a.m.

Edmonds School District optimistic about property deals

LYNNWOOD -- Leaders in the Edmonds School District have spent the past nine years shuffling the district's property portfolio, like a giant Rubik's cube.
The plan was to wring more revenue from potentially valuable properties in Lynnwood and Mountlake Terrace. That includes the former Lynnwood High School site across the street from Alderwood mall, where a new Costco store is taking shape. Making that happen required building the new Lynnwood High.
The recent economic doldrums pushed plans back by a few years, but the picture's starting to change.
"Things are moving forward and we're pretty excited about it," district spokeswoman DJ Jakala said.
The district provided an update in its latest newsletter.
•Lynnwood Place, aka the old Lynnwood High School: the district is leasing the site for commercial development. Work on Issaquah-based Costco's store there is scheduled to begin next spring, with a tentative opening date in summer of 2015. Texas-based developer Cypress Equities is looking for other tenants.
Bus barn on Alderwood Mall Boulevard: the district reports developer interest in the nine-acre property south of the mall and visible from I-5. Before selling or leasing the property, the district first needs to build a new transportation facility on 52nd Avenue West in Lynnwood.
Lynnwood City Center, across 196th Street from the Lynnwood Convention Center: the district is dividing the property into two parcels. One parcel is under a purchase contract, with the buyer performing due diligence. The other is receiving interest from developers.
Former Melody Hill Elementary, at the I-5 on ramp at 220th Street SW: crews finished demolition around the start of the school year and the district plans to start marketing the land soon.
Former Evergreen Elementary, next to the I-5 off ramp at 236th Street SW: the city re-zoned the property to freeway tourism and is working with the district on routing a road through it.
The sale and lease of the properties will go toward capital expenses approved by the school district board. The extra money won't pay for all of the district's projects.
Noah Haglund: 425-339-3465, nhaglund@heraldnet.com.

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