ING Clarion Plans to Develop a Five Story Office Building in Redmond, Washington

The 106,136 square-foot office project will be located within River Park, a six-acre, master planned mixed-use development that will include a 319-unit apartment project to be developed by Legacy Partners, a 144 room hotel to be developed and owned by Lodgeworks, plus approximately 15,000 square feet of retail with plans to include two full service restaurants. The project will be served by a shared parking garage with approximately 750 stalls. “River Park will be a wonderful mixed use development that will include many features of a live/work/play environment,” said Pete Stone, Senior Vice President of ING.

River Park is located in downtown Redmond, just two miles from the world headquarters of Microsoft. In addition to those on-site, nearby amenities include Redmond Town Center, a highly successful mixed-use property that features Macy’s, Bon Marche and REI retail stores, as well as a Marriott hotel and several hundred thousand square feet of office space. The 27-mile Burke-Gilman Trail, a popular recreational spot for walkers, runners, cyclists and commuters, is adjacent to the planned development.

“We anticipate continued strong growth in the demand for office space in the Redmond area,” said Stone. “With a vibrant local economy, low vacancy rates, and a limited amount of new office development, we believe the timing is excellent for a new high quality development. Our office project is designed to appeal to a broad range of prospective tenants who are attracted by the convenient location and mixed use nature of River Park.”

Trammell Crow Company will act as project manager during the construction phase, with John Cox and Brian Hatcher of GVA Kidder Matthews overseeing the leasing. The project is expected to be completed and ready for occupancy in the Fall of 2008.