City of Kenmore expected to approve buyers for Kenmore Village properties

The City of Kenmore is announcing the buyers for the Kenmore Village properties in the developing downtown commercial area.

Benaroya Company and Real Property Investors (RPI) are the anticipated buyers of the 3.3 acre Kenmore Village lower parcel. MainStreet Property Group LLC is the expected buyer of the upper lot, formerly the King County Park / Ride.

Benaroya Company and Real Property Investors (RPI) purchase is expected to be approved by the Kenmore City Council at a meeting on June 10. The MainStreet agreement will be ready for City Council consideration at the July 8, 2013 City Council meeting.

The two projects could bring at least $25 million in new investment to the downtown area. The new construction will include retail, office, high density residential, and a high quality, signature public gathering space. The City will likely see more than $8.2 million in direct economic value from the sale and development of these properties, including the Kenmore Camera expansion location.

Kenmore Camera will be moving to the new site and plans to triple in size. As reported in the Puget Sound Business Journal, 

The new location is 17,000 square feet, more than three times the size of its current location. Kenmore Camera will occupy the space by early fall. Kenmore Camera’s new store will have two classrooms, a customer lounge, retail space and custom lighting displays.