A Chicago-based developer has filed plans to build three warehouses in northeast Lacey in the 3300 block of Hogum Bay Road Northeast.
That’s according to the city of Lacey and Puget Sound Business Journal, which reported last week that Bridge Development Partners LLC is behind the project. The three warehouses will total about 705,000 square feet, city information shows.
Bridge bought the 40-plus acre site for $11 million from a Seattle real estate investment company called Northwest Building Corp., according to the Business Journal.
Northwest Building Corp. bought the property out of foreclosure seven years ago, the Business Journal reported.
The warehouse project, which is called Bridge Point Lacey, will be built on a speculative basis, an official with the company told the Business Journal.
Construction is expected to start in November.
The warehouse proposal is only the latest for an area of Lacey that is now home to several similar projects.
By 2035, northeast Lacey is expected to be home to 13,000 people, 5,500 residences — single-family and multifamily dwellings — and 9 million square feet of commercial development, The Olympian reported in late 2016, citing city projections. As of 2015, that’s up from about 9,500 people, 3,800 residences and 4.8 million square feet of commercial development.
Although the city of Lacey received the Bridge Development Partners’ site plan review application on Aug. 2, and it was deemed complete on Aug. 22, there is still time to comment on the proposal.
Written or verbal comments should be directed to Lacey Community Development Department senior planner Sarah Schelling at 420 College St. SE, Lacey, WA 98503, or by calling 360-491-5642.
Comments on the application are due before 5 p.m. Sept. 6.