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Developers seek council support to revise Lakeview Flats plan to two-story commercial proposal
Summary
Owners of the Lakeview Flats parcel asked council for guidance to replace the previously approved three-story mixed-use plan with a smaller two-story, all-commercial design because current market conditions make the original plan financially unfeasible.
Developers of the downtown Lakeview Flats property asked the Lake Stevens City Council for permission to pursue a revised development agreement that would shorten the previously approved three‑story mixed-use project to a two‑story commercial building, citing changes in financing and current market conditions.
Christy Schmidt, planning manager, reminded council that the original development agreement (DA) was approved in June 2022. The approved plan called for a three‑story building with ground-floor commercial space (about 17,000 square feet, room for three…
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