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Draft terms for 1301 Shoreway project would add public creek trail and parking; developer offered $6.3M–$7M community benefit
Summary
Draft terms for a proposed office/biotech campus at 1301 Shoreway include a public parking garage, creekside trail improvements and a $6.3M–$7.0M community‑benefit payment tied to build timing.
City staff presented draft development‑agreement terms for the proposed 1301 Shoreway redevelopment on Oct. 28. The project would convert an existing office complex into a flexible, multi‑building campus for office or life‑science uses, add a public parking garage and fund several public improvements including a creekside trail with interpretive signage, renovated court/facility space and dedicated parking for outdoor amenities.
Key terms summarized by staff included: a developer community‑benefit contribution equal to about $13 per square foot if entitlement and…
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