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Tukwila South April 13, 2010

Posted by Sean Tufts in Articles, Retail News.
Tags: , ,

Last week the Seattle Times had an interesting article that many may have missed.   This will be a fasinating long-term development that will drastically change the landscape of the area. 

Powerful Segale family has massive vision for Tukwila expanse

Powerful Segale family has a vision for Tukwila expanse that includes offices, condos, shops — and nearly as many workers as the Microsoft campus.

By Eric Pryne
Seattle Times business reporter

Sometime this spring construction crews should start moving earth for an enormous development in South King County that you’ve almost certainly never heard of.

It’s called Tukwila South. It covers 500 acres in that city’s south end between the Green River and Interstate 5 — an area bigger than downtown Bellevue.

Tukwila officials and the Segales, the powerful, secretive, politically well-connected family behind the project, envision a campus of midrise office and research buildings. They would be surrounded by stores, restaurants, town houses, condos, a hotel — 10 million square feet of development in all.

That’s about as much as Paul Allen has built in South Lake Union plus what he still plans to build there.

Patriarch Mario Segale, 75, has been buying and developing real estate in South King County and elsewhere for decades. Tukwila South is by far his biggest reach.

As an employment center, backers say, it could be in a league with Microsoft’s Redmond campus, the University of Washington or Boeing’s Everett plant.

Regional business leaders say Tukwila South’s size and location, just minutes from the airport, could help the Seattle area compete for companies that otherwise might locate elsewhere.

“I don’t know of any piece of property that big, that centrally located, that’s under one ownership in a major metropolitan area anywhere in the country,” says Tom Flavin of Enterprise Seattle, King County’s economic-development council.

Segale began assembling the land for the project more than 50 years ago. The master plan acknowledges it could be 25 or 30 years before the site is fully built out.

But business associates say Segale has always focused more on the next generation than the next business cycle. “He’s very patient,” says one longtime observer of the commercial real-estate scene. “He’s not out to make the quick buck.”

“Obviously, a project this size is going to be around long after he’s gone.”

Read the rest here.


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