Public hearing set for residential development near River Ridge High

Lacey City Council has set a public hearing for Thursday on a development agreement related to a 500-plus unit residential development near River Ridge High School.

After the public hearing, the council will vote on the agreement for the proposed project, which is being pursued by Wolff Real Estate Partners III LP.

WREP III — which has registered its limited partnership in Delaware, but has ties to Scottsdale, Arizona — wants to subdivide 32 acres at 8549 Martin Way E., just west of the high school and south of Martin Way.

The developer intends to create three parcels that will be developed into a two-phase multi-family and senior-housing project, according to city information. The multi-family project will be home to 488 units, while the senior housing is set for 135 units, said Sarah Schelling, an associate planner with the city.

Although the public hearing is Thursday, a check of the property Tuesday showed that site work has already begun. Heavy equipment, such as graders and dump trucks, were observed entering the property. Schelling said the multi-family and senior-housing projects have received site plan approval from the city.

The development agreement for the overall project locks in expectations for the developer and the city.

According to the city:

▪ The development agreement assures Lacey that the (site) improvements will be completed prior to sale of the parcels to a third party, and it provides needed multi-family housing for the community.

▪ The agreement helps the developer with financing options for the project, as well as gives them the option for a shortened timeline for construction.

The council was briefed about the project during last week’s council work session, and they voiced support for it at the time. Lacey Mayor Andy Ryder could not be reached Tuesday.

This story was originally published March 8, 2016 at 4:28 PM with the headline "Public hearing set for residential development near River Ridge High."