Retailer to occupy former Lynnwood school still a mystery

  • Wed Oct 13th, 2010 3:08pm
  • News

By Noah Haglund Herald Writer

LYNNWOOD — A guessing game over which retailer will occupy a major chunk of the former Lynnwood High School campus is going into overtime.

Last week, Edmonds School District officials said they expected to release the retailer’s name by now. Instead, that may not happen until early next month.

“We’re now looking at probably three weeks out,” district spokeswoman D.J. Jakala said Tuesday.

District officials said last week that Texas-based Cypress Equities reached a deal with a retail tenant to build on about 15 acres of the 40-acre site.

Reasons for the delayed announcement include: a pending project application with the city of Lynnwood; amending the district’s agreement with Cypress; and the retailer, a public company, needing to work with shareholders to release the information.

Cypress has a 99-year lease with the district for the land. The subtenant has signed a 30-year lease agreement with an option to extend it to 99 years, district officials have said.

The new tenant is expected to generate about $1 million per year for the district, Jakala said. The district also expects to receive additional revenue from portions of the remaining space.

It could be a year or longer before construction begins at the former home of the Lynnwood High School Royals, across 184th Street SW from the Alderwood mall.

Meanwhile, demolition crews from DMSL Construction of Arlington continue to tear down the former high school’s brick buildings, which were dedicated in 1971. The property has been vacant since 2009, when students moved into a new school on North Road in unincorporated Bothell.

DMSL is expected to finish the $656,000 demolition job at the old school by the end of October, Jakala said. Then, those crews are scheduled to start a $316,000 contract to demolish the former Evergreen Elementary School along I-5 in Mountlake Terrace. That site south of 236th Street SW also is considered a prime spot for commercial redevelopment.

Noah Haglund: 425-339-3465; nhaglund@heraldnet.com.