The Port of Seattle Commission voted Tuesday to approve a lease that will result in the development of an 87-acre Des Moines Creek Business Park.
The ground lease is with Panattoni Development, which will construct up to 2 million square feet of development south on airport land just south of Seattle-Tacoma International (SEA). The projects are expected to include a combination of airport-related commercial and light industrial uses and create 1,600 new jobs.
“Creating new jobs in Des Moines and South King County is both vital and a great thing,” says Port of Seattle Commissioner Tom Albro. “This is a good example of the port partnering with our neighboring cities to stimulate economic growth and job creation.”
The project has an estimated cost of between $100 million and $125 million and will be built in phases over the next seven years. It will include flexible-use, manufacturing, office, distribution and industrial business park buildings.
