The Bothell City Council could approve two downtown land-purchase contracts during tomorrow’s meeting, paving the way for two hotels, the Marriott SpringHill and the Marriott TownePlace, as well as a drug store and commercial space to be developed.
The city has been in negotiations with the Lynnwood-based 360 Hotel Group since early 2015 to bring two previously unnamed hotels to downtown Bothell on land along Northeast 183rd Street and the Bothell Everett Highway, which the city refers to as the Boulevard, according to a City Council agenda.
The city would sell the four lots, consisting of nearly 40,000 square feet, for $1.635 million.
The hotels would be separate businesses, but connected by a sky way over a public plaza and house retail businesses on the first floor in accordance with city development requirements.
One six-story hotel would sit along the Boulevard, and the other five-story hotel along Northeast 183rd Street.
Together they would consist of around 190 rooms and would lease between 80 to 115 parking slots in the city’s newly constructed parking garage located underneath city hall, leasing spots for around $150 a month. This parking agreement is projected by the city to bring in $180,000 in revenue in the first year.
According to the purchase agreement, 360 Hotel Group also intends to build its own separate parking garage with access to the city garage.
The city and the developer would also split the cost of building a $723,610 public plaza on the property, and 360 Hotel Group would foot approximately $835,560 in additional street infrastructure improvement and storm water facilities use fees.
The other major purchase agreement the council could approve would sell three lots with a combined area of approximately 47,630 square feet to TRF Equities Bothell for $1.428 million located at the northeast corner of the State Route 522 and Boulevard intersection.
TRF Equities would construct at least 30,000 square feet of commercial spaces and a 12,000 square foot drug store and possible residential units.
The company would be charged an additional $913,076 for infrastructure improvements and storm water facility usage.
All seven lots that could be sold are city-owned property, bought as part of the Downtown Revitalization project which city leaders adopted in 2006 to redevelop the city and create an economic core.
Other projects included attracting the McMenamins Anderson School, the Crossroads Project which included moving SR 522 and implementing commercial business requirements on the ground floor of new buildings.
