Burien, Wash., Transit Center parking expansion project to break ground

King County and Alliance Wasatch I, LLC, a joint venture between Alliance Property Group Inc. and Wasatch Advantage Group, LLC ("Alliance"), are joining Sound Transit, the City of Burien, Wash., and Pankow Builders to host a groundbreaking Oct. 23 for the park-and-ride expansion project at the Burien Transit Center. The ceremony, scheduled to begin at 10:00 a.m. at the Burien park-and-ride lot, will kick off construction of a multi-level, 462-stall garage and an adjoining 43-space surface lot that will add 164 spaces to the transit center's parking capacity. King County Executive Dow Constantine, King County Councilmember and Sound Transit Board member Jan Drago, U.S. Congressman Jim McDermott, Burien Mayor Joan McGilton, and Alliance representatives will be among those speaking at the event.

A key element of the
County’s effort to create a sustainable transportation hub in Burien, and the city’s
overall vision for downtown, the $20.5-million project represents the second
phase of the county’s three-phase redevelopment of the transit center. In June
2009, a new off-street transit center opened adjacent to the park-and-ride lot
to better serve riders with local and regional transit connections. When
completed late next year, the garage will occupy the north end of the County’s
park-and-ride lot and include 10 charging units for electric vehicles with
capacity for 40 additional charging stations. Project partners are looking
forward to breaking ground on a project that will create well-paying jobs in
South King County at a time when effects of the recession are still being felt.

The Burien Transit Center
parking expansion represents an innovative public-private partnership between
King County, Sound Transit, and Alliance to fund the design and construction of
the garage. The County has entered into a lease/lease-back contract with
Alliance to finance the project with private equity funds and a construction
loan from Wells Fargo Bank. Alliance will finance and construct the project,
and upon completion the County intends to purchase the garage for a fixed,
pre-determined price and open it for service to the public soon after. Sound
Transit is providing funding to purchase the garage, which was included in the
voter-approved ST2 transit expansion plan.

The third and final phase
of the transit center redevelopment includes a transit-oriented development
(TOD) project with commercial retail space and affordable housing at the south
end of the lot, adjacent to the new garage. The County has awarded Alliance an
exclusive right to negotiate with the County for development of the TOD
project. Due to the downturn in the economy the TOD portion of the project is
on hold. However, while opportunities for TOD are being pursued, Alliance must
pay the County $5,000 per month, which constitutes fair market rent for the
property, for a period of two years.

The Transit Center provides
Metro and ST Express connections for commuters and residents to downtown
Burien, Highline Community College, Sea-Tac Airport and the
Tukwila/International Boulevard Link light rail station. The transit center
will also be the western terminus of the Metro RapidRide F Line.

In addition to $14.7
million from Sound Transit, the County has secured $7.3 million in Federal
Transit Administration grants for project design and construction. Charles
Pankow Builders, Ltd., of Oakland, California is the design-build contractor
for the garage.