Big boxes · Washington
Overlake Seritage property
Proposed redevelopment of former Sears site with full approvals, $21M infrastructure, and 6.9 developable acres; near 8 active redevelopments in Redmond/Kirkland housing market. · summary, model-written
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Site profile11 elements · what this retrofit is built with · tap a chip for the evidence
Retrofit in the pipeline
This site: …proposed record · all sites with this3+ other atlas sites within 10 km
This site: 8 within 10 km computed · all sites with this30,000+ vehicles a day on an adjacent road
This site: 83,708 on SR 520 fhwa-hpms · all sites with thisCounty permitting 2,000+ apartment units a year
This site: 7,119 units, King County census-bps · all sites with thisCounty typical rent $2,000+
This site: $2,323/mo zillow · all sites with thisInterstate or freeway within 600 m
This site: SR 520 fhwa-hpms · all sites with thisMaster plan or PUD
This site: …ed through 2039,” completed environmental review, finalized master plan, more than $21 million in infrastructure already invested, record · all sites with thisRedeveloped
This site: The site comes with an approved development agreement “vested through 2039,” completed environmental review, finalized master plan, more than $21 million in… record · all sites with thisHousing
This site: …new_use field newtypes-extraction · all sites with thisOffice
This site: …new_use field newtypes-extraction · all sites with thisRetail (continued)
This site: …new_use field newtypes-extraction · all sites with thisNow
| Status | Retrofit proposedWikipedia no source |
|---|---|
| Strategy | Redevelopment, proposedWikipedia no source |
| New uses | housing, office, retailWikipedia no source |
| What is there now | The site comes with an approved development agreement “vested through 2039,” completed environmental review, finalized master plan, more than $21 million in infrastructure already invested, and 6.9 net developable acres within a 14-acre district-scale plan.newtypes-extraction reported |
Site context
| Housing permits, King County (WA), 2024 | 7,119 units in 5+ unit buildings, 1,093 in 2–4, 2,352 single-family; 2023: 7,274 in 5+Census BPS |
|---|---|
| Other atlas sites nearby | 8 within 10 km, 19 within 25 km: Sears site at Overlake Plaza (0.0 km); Overlake Plaza (0.0 km); Kirkland Parkplace (5.6 km); Kirkland Heights (6.3 km); Totem Lake Mall (6.4 km)computed |
| Retail trade in the county, 2025 (BLS QCEW) | 102,448 jobs in 5,725 establishments; average annual pay $60,273; employment location quotient 0.72; employment -1.1% on the yearBLS QCEW 2025, NAICS 44-45, private |
| Jobs located in the tract, 2022 | 11,465 jobs; 679 in retail trade, 1,970 in accommodation and food (workplace blocks summed to tract 53033032331)Census LEHD LODES8 WAC 2022 |
| Upward mobility (Opportunity Atlas, 2010 tract) | children of low-income (25th percentile) families reached the 49th income percentile as adults; -0.3% incarcerated at the 2010 count (93 children in the sample); born 1978–83, measured 2014–15Opportunity Insights |
| Food access (USDA FARA 2019, 2010 tract) | not a low-access tract at 1 mile; 3% of residents more than 1 mile from a supermarket; poverty rate 7.3%; median family income $134,688; 123 SNAP householdsUSDA ERS |
| Schools | Lake Washington School District (PK-12); 5 public schools within 1 mile: Benjamin Rush Elementary; Redmond Elementary; Contractual Schools; Old Redmond SchoolhouseNCES EDGE |
| Elevation | 40 ft above sea level at the site pointUSGS 3DEP |
| Storm events in the county, 2016-2025 | 8 county-logged events: 6 heavy rain, 1 debris flow, 1 flood; $34,994,000 property damage reported; 1 direct deaths; forecast-zone events (most flood, winter and heat) not countedNOAA Storm Events |
| Homes for sale in ZIP 98052, 2026-09 | median list price $1,050,975 (-19.5% on the year); 192 active listings; median 40 days on market; 15% with a price cutRealtor.com Research |
| Retail trade in the county, 2012 to 2023 | 5,912 establishments (-10%); 104,570 jobs (+8%)Census CBP |
| Housing market in the county | typical home value $824,870 (-2% 1 yr, +7% 5 yr); typical rent $2,323/mo (+2% 1 yr), 2026-09Zillow Research |
| Traffic on the busiest road within 600 m (2024) | 83,708 vehicles a day on SR 520 (freeway or expressway, 6 lanes); 2,963 trucks; 34 counted segmentsFHWA HPMS |
Summary, model-written
Overlake Seritage property (Redmond, WA) is a proposed redevelopment of a former Sears big-box site. It has an approved development agreement (vested through 2039), completed environmental review, finalized master plan, and $21M in existing infrastructure. The site includes 6.9 net developable acres within a 14-acre district plan. New uses include housing, office, and retail. The project is classified as 'proposed' but has strong pre-development approvals.
Why. The site is in a market with rising housing demand (ZORI up 1.6% YoY), near 8 other active redevelopments within 10km (including two identical Overlake Plaza entries), and benefits from completed planning and infrastructure. County housing permits show $2.7B in 2024 construction value.
Where it stands. Status: Proposed. Key approvals are secured (development agreement, environmental review, master plan), but construction has not started. No specific timeline or developer name is provided. Traffic data shows proximity to SR 520 freeway (83,708 ADT).
For a planner
- Approved development agreement (vested to 2039)
- 6.9 net developable acres in district-scale plan
- Nearby housing market demand (ZORI $2,323)
- 8 active redevelopments within 10km
For a developer
- $21M infrastructure already invested
- No environmental or planning hurdles remaining
- Proximity to SR 520 freeway
- Peer projects (e.g., Kirkland Parkplace) under construction nearby
What we do not know yet
- No construction start date or completion timeline
- No specific housing unit targets or office space metrics
- No developer name or project financing details
Generated by qwen3-30b-a3b-64k:latest on Dell 5820 RTX 3090 (Ollama, qwen3-30b-a3b) from the fields, parcels, deals and context layers on this page, with no outside knowledge. It is regenerated when the record changes and has not been checked by a person. How it is made.
Similar sites
- Overlake Plaza, Redmond, WA · Big boxes · same strategy: redevelop; also in WA; 0 km away
- Sears site at Overlake Plaza, Redmond, WA · Big boxes · same strategy: redevelop; also in WA; 0 km away
- Trailhead, Issaquah, WA · Garden apartments · same strategy: redevelop; also in WA; 16 km away
- 12th Place, Building A, Bellevue, WA · Office parks · same strategy: redevelop; also in WA; 7 km away
Elsewhere on the web
Search images: Google · Bing · Commons · references: ULI case studies · Google Scholar
Multifamily screen
- already in play: under construction, approved, or sold to a developer with housing plans
- county grew 4.6% 2018–23
- median rent $2,035
- housing in the record
Inputs: record fields (size, status) and county Census ACS 2018–2023 figures (growth, rent). How the points work. Not a recommendation.
History and original facts
| County | King County |
|---|---|
| Census division | 9 · Pacific |
| Notes | Draft from thenewstribune.com, model-extracted, unreviewed: The former Sears store at Overlake Plaza in Redmond, opened in 1971 and closed in 2018, is being marketed for mixed-use redevelopment including housing, retail, hospitality, and office uses. |
Not yet recorded: acres, GLA, year opened, original developer, retrofit year. Know it? Tell us.
Sources
- Massive former Sears site in Washington state is on the market
1 quoted sentence
Overlake Seritage property
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