Public Benefit

For example, the strategic plan states that Parkplace should:

• Maintain a pedestrian orientation to the downtown and surrounding districts;
• Balance the need for efficient vehicular circular with downtown's vital pedestrian character;
• Acknowledge Parkplace as an integral part of downtown by establishing clear defined pedestrian connections with the core and waterfront;
• Enhance the core downtown areas by assuring a mix of mutually supportive uses; and
• Celebrate the waterfront setting by reorienting downtown to the Lake

That same downtown plan, created by the City in cooperation with many local businesses and residents, has several important goals that Parkplace's redevelopment also addresses, including:

• Create significantly more local-serving retail given the fact that more than 90% of local residents' retail spending currently takes place outside of the Kirkland city limits --- in places like Bellevue and Seattle
• Be urban in character to promote better integration of Parkplace with the core area;
• Enhance the intersection at Central and 6th to become true "gateway" to the downtown
• Encourage retail uses and similar pedestrian-generating activities on the ground floor of buildings;
• Establish a friendly connection to Peter Kirk Park with no net loss of park land;
• Add on-street parking along Central Way to support retail and enhance the pedestrian environment;
• Encourage underground parking and street parking along surface streets; minimize and, over time, eliminate surface lots.

To see how the new Parkplace specifically addresses these key objectives for the Kirkland community, consider the following design elements and anticipated impacts of the Parkplace redevelopment project:

• Touchstone will increase the total number of parking spaces at Parkplace from 700 to 3,500. That increase will address the significant lack of parking in the downtown area for workers, shoppers and visitors. Best yet, since a majority of these spaces would be vacant after workers leave for the day, shoppers and visitors would reap the benefit of an additional 2,500 parking stalls during prime evening and weekend hours.
• Touchstone is creating an activated public realm that will include green space and other public gathering areas, connection roads and sidewalks, plazas, interactive water features, and more. Moreover, the redevelopment provides five times the amount of open space required under the city's old zoning. The project will be a popular gathering space for all local stakeholders --- whether they're coming to shop or simply enjoy the outdoors.
• A redeveloped Parkplace creates the potential for high-growth local companies like Google, Clearwire, Bungee Studios and others to maintain a presence in Kirkland's commercial community. Currently, there is nowhere for these firms to grow, despite their expressed interest in staying in Kirkland for years to come.
• The project provides a much-needed boost to Kirkland's commercial district, which includes a struggling retail core where art galleries and once-thriving businesses have closed their doors. The addition of 5,000 Parkplace office workers to the downtown area will provide tremendous support for most every Kirkland retailer --- including those situated along the waterfront.
• Parkplace's redevelopment positively impacts the local economy by increasing tax revenues. That economic-infusion will help bridge the City's annual tax-revenue deficit that's impeding its ability to provide and maintain public park spaces and other community services.
• Parkplace will feature many pedestrian-friendly connections to adjoining streets, Peter Kirk Park and area businesses adjacent to the property. Parkplace's design allows for a clear flow of pedestrian traffic to and from the project, and it promotes walkability, pedestrian circulation and retail continuity.
• Parkplace is a highly sustainable project that everyone can be proud of. It's a compact, pedestrian-friendly redevelopment that helps to promote live-work balance by providing much-needed access to goods and services people need, proximity to where they live. The project will also significantly contribute to lowering carbon emissions and energy use relative to a traditional suburban model of development. Touchstone will pursue a minimum LEED Gold certification for the shell and core of the office buildings.