The waiting and wondering about the Fred Meyer shopping center planned at Four Corners in Maple Valley appears to be over.
Peter Powell, owner of Bellevue-based Powell Development, wrote in an e-mail the project got the green light from The Kroger Co., based in Cincinnati, Ohio, which owns the Fred Meyer stores.
Powell stated in the e-mail Fred Meyer representatives went to the Kroger’s Capital Committee for an additional $3 million to help pay the $4 million in city permit, system development charges and utility hook up fees.
Maple Valley Mayor Noel Gerken said, “We are really excited about this. It means more services and products for our city. Basic things you can’t buy in Maple Valley right now. This is good for the city of Maple Valley.”
The life of the shopping and lifestyle center hung in the balance for about three months until this week.
Powell stated in May the city staff had “done a good job of give and take” working to lower costs to keep the project alive, but the city fees along with the stagnant economy had placed the project in jeopardy.
Powell also stated in May the construction of 242nd Avenue East road, which must be paid for by the developer, was about a $500,000 hurdle.
City Manager David Johnston said a special assessment credit of $288,000 can be applied to the traffic impact fees to help offset the cost of the road.
Powell said he had not been sure if the project would come together, but wrote in an e-mail, “It was a pleasant surprise when Kroger gave the ‘thumbs up.'”
Construction is expected to begin early 2011.
The nearly 30 acre site, located at 26656 Maple Valley-Black Diamond Rd, is owned by TRM Wood Products. A ground lease was signed for the property about two years ago, pending resolution of development issues.
TRM will relocate to the southeast corner of the property facing 242nd Avenue East road after it is constructed.
The Fred Meyer store in the center is planned to be about $175,000 square feet with an additional commercial plaza of more than 60,000 square feet.