7. ECONOMIC DEVELOPMENT

The Market Analysis conducted for the Station Area Plan details existing conditions prior to the COVID-19 pandemic and future development opportunities for the Subarea. Key findings indicated that there is growing regional demand for office space on the Eastside, with high rents per square foot and low vacancy rates. The addition of supportive amenities, such as walkable, service-rich neighborhoods, could attract additional office investment. The analysis also indicates that there are opportunities for more retail uses in conjunction with larger daytime office populations and new higher-density residential uses. Regional case studies and national research shows that Bus Rapid Transit investments lead to increased development activity, particularly when paired with complementary policy initiatives. The analysis also indicates that industrial areas in the Subarea are important locations for small businesses and provide large parcels in close proximity to the Stride Station, and potential opportunities for development or new investment.

Commercial businesses will likely evolve over time as low-rise strip commercial developments surrounded by surface parking lots are redeveloped into higher intensity mixed use projects. Proposed land use changes, urban design strategies and implementation of a form-based code will encourage new opportunities for a variety of commercial businesses and “maker spaces,” including spaces for existing tenants to relocate to and remain in the area.

It is also a high priority for the City to retain larger retailers and car dealerships. These businesses provide important local and regional services and represent a significant portion of the City’s sales tax revenue that helps provide services to the community. Retaining these businesses will require partnerships to facilitate innovative mixed use development, regulatory support for redevelopment, and possible relocation strategies if businesses are to relocate out of the Station Area but within Kirkland City limits.

Economic Development Goals and Policies

Goal SA-23:

Promote the vision for the Station Area as a walkable district with high tech and family wage jobs, and commercial and retail services linked by transit and a robust transportation network.

Goal SA-24:

Create a vibrant district, with interesting places to shop, live, work, recreate, and visit that becomes a destination – a place people want to be.

Goal SA-25:

Promote transportation connections for cars, buses and nonmotorized options in the Subarea through public, private, and nonprofit partnerships.

Goal SA-26:

Continue to partner with large and small retailers in the Subarea to explore opportunities for those businesses to be successful components of the anticipated growth and change.

Policy SA-27:

Encourage the use of economic development tools to promote retention, expansion, and growth of employment opportunities within the center.

Policy SA-28:

Reduce the risk of commercial displacement through a variety of anti-displacement strategies, including creating development standards that accommodate a range of commercial spaces, particularly smaller scale commercial spaces that are accessible to small, local businesses.

Policy SA-29:

Encourage a wide range of commercial activities along urban frontages in the Subarea that activate the public realm and enhance the pedestrian experience in the district.

Policy SA-30:

Encourage small-scale maker, crafts, and fabrication spaces to foster smaller, immigrant-owned, and fledgling businesses.

Policy SA-31:

Provide City and public/private assistance to nurture small businesses, including technical support to develop business plans, find appropriate real estate, and hire local workers.

Policy SA-32:

Identify opportunities for multi-benefit partnerships and programs between private, public, and nonprofit organizations in the Station Area to create community benefits such as:

○    Job placement opportunities,

○    Providing publicly accessible community spaces,

○    Providing opportunities for students, and

○    Meeting shared needs (e.g., parking, mobility, complementary services).