Construction is expected to start later this year on the first stage of a massive 250-acre development in Tukwila, just north of the Kent city limits.
The land sits along Southcenter Parkway between South 180th Street and South 200th Street.
Tukwila-based Segale Properties, a fourth-generation, family owned commercial real estate development and property management company, has begun marketing 250 contiguous acres of pad-ready properties — fully entitled for a wide range of uses — to developers and companies to deliver catalyst projects, according to a March 24 press release from Segale Properties.
Segale Properties is nearing completion of its first deal, with Minnesota-based Ryan Companies US, Inc. for a 38-acre technology park. The strategically positioned, centrally located property, formerly known as Tukwila South, has been newly named The Prato District.
“Our family has spent the past 70 years assembling land, and the past two decades planning, gaining entitlements and constructing core infrastructure for The Prato District,” said Mark Seagle, president of Segale Properties. “Our family’s vision will create an exciting new live-work-play environment bringing high-quality development, open space and economic vitality to the Tukwila area. We could not be more pleased to have Ryan Companies as our first builder.”
Segale said it’s prime vacant property for developers.
“With a development capacity of 10.3 million square feet, The Prato District offers developers and companies an unparalleled opportunity to develop and build large-scale commercial and residential projects, campus-type environments and mixed-use development in the land-constrained Puget Sound region,” Segale said.
The name Prato comes from a capital city in Tuscany in central Italy where Segale’s grandparents are from, according to a company spokesperson. Prato is also Italian for meadow and in some ways is a nod to the acreage that the Segales have accumulated and farmed for four generations.
Complementing all future development are an array of amenities including natural spaces, views of Mount Rainier and the Green River and exceptional lifestyle amenities. There will be 18-plus acres of future parks and maintained walking trails, and 71 acres of conserved open space. The property is within walking distance to a vast array of retail, restaurants, lifestyle services and the Westfield Southcenter Mall.
The Prato District’s 320-plus acres includes 250 acres of shovel ready property that benefits from a zoning overlay that allows for a mix of complementary uses, including multifamily, office, hospitality, research and development flex-tech, hospitality, retail and light manufacturing. Warehouse and logistics uses are not permitted, other than as an accessory use.
Offering a streamlined path to development, The Prato District has completed all key entitlements and core infrastructure improvements making it immediately ready to support new commercial and residential development.
“Ryan Companies was attracted to the vision and scale The Prato District offers, not to mention the fact that infrastructure and approvals are already in place,” said Marc Gearhart, Ryan Companies vice president of real estate development. “Instead of spending 18 to 24 months just to get land entitled and permitted, we can start building tomorrow — that speed-to-market gives us an extraordinary advantage over other developers.”
Ryan Companies’ developments are in the early phases of construction i.e. sites are graded and infrastructure is in, said a Segale Properties spokesperson. In terms of individual projects, the company will go through administrative design/building permit review process with the city of Tukwila and then construction begins, usually a four-to-six-month process for each project.
The property is close to four major highways, including Interstate 5, I-405, State Route 167 and Highway 99 and just 2 miles from Sea-Tac Airport.