Groundbreaking for Issaquah Highlands retail complex delayed until June 26
June 19, 2012
By Warren Kagarise
NEW — 6 a.m. June 19, 2012
The groundbreaking ceremony for a long-planned Issaquah Highlands retail complex is delayed until June 26, project organizers announced Monday, a day before the planned event.
Executives at the highlands developer, Port Blakely Communities, and the company behind the retail complex, Regency Centers, attributed the weeklong delay to scheduling conflicts.
“This project remains a top priority for both organizations and we have every confidence that the transaction will close and construction will commence very soon,” Port Blakely CEO René Ancinas and Regency Senior Vice President Craig Ramey said in a joint statement.
The groundbreaking ceremony is planned for the corner of Ninth Avenue Northeast and Park Drive — a vacant stretch envisioned as Grand Ridge Plaza, as the project is called.
Regency, a real estate investment trust based in Florida, intends to build Grand Ridge Plaza on land along Highlands Drive Northeast between Swedish/Issaquah and the Issaquah Highlands Park & Ride.
The proposed retail complex morphed throughout the years to reflect the developers involved and the economy.
In the latest iteration, announced tenants include a Regal Cinemas multiplex, and a Safeway and associated gas station.
Regal Cinemas and Safeway intend to open next year. Other tenants could open in 2013 as well.
In late April, the city Urban Village Development Commission approved plans to build Grand Ridge Plaza in the neighborhood.
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uh oh – this doesn’t sound good.
“confidence that the transaction will close and construction will commence very soon,” Port Blakely CEO René Ancinas and Regency Senior Vice President Craig Ramey said in a joint statement.
Will = future tense. Will close means has not closed. Dare I say may not close.
Bet they have not yet secured financing…
good share!!keep go on!!!nice post!!