LYNNWOOD — A Bellevue developer has proposed constructing an 18-story apartment building, which would be the second-tallest structure in Snohomish County.
Cosmos Development has submitted plans for the 532,640-square-foot building across the street from Alderwood mall. The building would be 187 feet tall, trailing only Providence Regional Medical Center Everett, which stands at 197 feet tall.
The mixed-use building includes one level of parking below ground, commercial space on the ground floor and 16 floors with 349 apartments. Those apartments would range in size from one to three bedrooms.
The building is proposed to be built at 18631 Alderwood Mall Parkway next to the Toys R Us store. The site had been occupied by a three-story medical office, which was demolished earlier this month.
Cosmos would like to start construction next year and be finished 18 months to two years later, said Oscar Del Moro, principal with the company.
“There’s a lot of land and a lot of parking lots” in Lynnwood, Del Moro said. “We’re trying to bring a more urban environment to the area. Everybody has been planning for this for a long time. We’re taking the first step.”
In 2002, Cosmos built a 200,000-square-foot office building in Lynnwood at 1920 33rd Ave. W. His firm also built the office building that houses Mountlake Terrace City Hall. The firm, which opened in 1986, has built mixed-use, urban developments in cities such as Seattle, Bellevue, Renton and other places around the Puget Sound area.
The city of Lynnwood has been planning to funnel high density development into the area around Alderwood mall as well as into the City Center area a mile south of the mall, and along Highway 99, said Todd Hall, the city planning manager.
Hall said that there are several transit options planned near this particular area, including a light rail station, which is expected to be built during the Lynnwood to Everett extension. He said the project proposal will be reviewed by staff and doesn’t have to go before the city planning commission.
Del Moro said that his firm has owned the land — 1.87 acres — for years and has been eyeing redevelopment for the site. He said the apartment building will be tall and slender. Its location near transit, across the street from the Alderwood mall and near I-5 and Highway 405, makes it ideal.
Snohomish County’s population is nearing 800,000. The county has added 100,000 since 2007, or a little less than the population of Everett.
Lynnwood is ready for this type of development, Del Moro said.
“We’re trying to make a 24-hour city,” he said.
He said he doesn’t feel like Snohomish County is being oversaturated with apartments.
“We’re comfortable that we’re hitting the right market at the right spot,” Del Moro said.
Jim Davis: jdavis @heraldnet.com; 425-339-3097; @HBJnews.