City Planner Jeff Churchill gave an in depth report to City Council this Tuesday on investments in Redmond's two urban centers - the Downtown and Overlake. In the last eight years private investment ($395 million) has exceeded public investment ($150 million) in the urban centers. Downtown growth is weighted towards residential whereas Overlake's growth is planned to be more balanced between commercial and residential.
In Overlake, since 2005 most of the private investment ($250 million) has been in the build-out of commercial, mostly Microsoft. Only $8 million has been invested in residential in Overlake. In the Downtown, since 2005, $100 million has been spent on mixed-residential and $38 million spent on commercial.
Churchill stated growth in the urban centers is occurring consistent with plans. The $150 million spent so far has been spent on the Downtown Park, Redmond Central Connector, Downtown Street grid (161st, 164th, Bear Creek), the 36th Street Bridge, and water, sewer, and stormwater improvements.
Investments coming up in the next five or so years are the Cleveland Streetscape, Redmond Way-Cleveland 2-way, Overlake South Detention Pond, Overlake LID retrofit, and the SR 520 access ramp to Overlake, along with hundreds of residential units.
Reported By Bob Yoder
In Overlake, since 2005 most of the private investment ($250 million) has been in the build-out of commercial, mostly Microsoft. Only $8 million has been invested in residential in Overlake. In the Downtown, since 2005, $100 million has been spent on mixed-residential and $38 million spent on commercial.
Churchill stated growth in the urban centers is occurring consistent with plans. The $150 million spent so far has been spent on the Downtown Park, Redmond Central Connector, Downtown Street grid (161st, 164th, Bear Creek), the 36th Street Bridge, and water, sewer, and stormwater improvements.
Investments coming up in the next five or so years are the Cleveland Streetscape, Redmond Way-Cleveland 2-way, Overlake South Detention Pond, Overlake LID retrofit, and the SR 520 access ramp to Overlake, along with hundreds of residential units.
Reported By Bob Yoder
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