{
 "id": "n-93338e8767",
 "slug": "redmond-overlake-seritage-property",
 "type": "big-box",
 "name": "Overlake Seritage property",
 "aka": [],
 "city": "Redmond",
 "county": "King County",
 "state": "WA",
 "country": "US",
 "census_division": 9,
 "lat": 47.66941,
 "lon": -122.12388,
 "geocode_method": "nominatim-city",
 "address": null,
 "metro": null,
 "original_use": "Sears store",
 "year_opened": null,
 "year_closed": null,
 "acres": null,
 "gla_sqft": null,
 "stores_peak": null,
 "levels": null,
 "original_developer": null,
 "original_architect": null,
 "before_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.",
 "strategy": [
  "redevelop"
 ],
 "new_use": [
  "housing",
  "office",
  "retail"
 ],
 "share_retrofit": null,
 "status": "proposed",
 "year_retrofit": null,
 "developer": null,
 "architect": null,
 "after_notes": "The site comes with an approved development agreement \u201cvested through 2039,\u201d 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.",
 "narrative": null,
 "narrative_license": null,
 "narrative_source": null,
 "zoning_change": null,
 "public_subsidy": null,
 "entitlement_year": null,
 "planning_notes": null,
 "wikidata_qid": null,
 "wikipedia": null,
 "osm_id": null,
 "verified": "draft",
 "verified_by": null,
 "last_verified": null,
 "last_updated": "2026-10-18",
 "created": "2026-10-18",
 "contributor_name": null,
 "contributor_org": null,
 "contributor_link": null,
 "international": 0,
 "county_fips": "53033",
 "opp_score": 20.0,
 "opp_reasons": [
  "already in play: under construction, approved, or sold to a developer with housing plans",
  "county grew 4.6% 2018\u201323",
  "median rent $2,035",
  "housing in the record"
 ],
 "for_sale": 0,
 "distressed": 0,
 "deep": {},
 "elements": [
  {
   "slug": "status-pipeline",
   "name": "Retrofit in the pipeline",
   "grp": "finance",
   "evidence": "proposed",
   "origin": "record"
  },
  {
   "slug": "place-mall-cluster",
   "name": "3+ other atlas sites within 10 km",
   "grp": "place",
   "evidence": "8 within 10 km",
   "origin": "computed"
  },
  {
   "slug": "place-high-traffic",
   "name": "30,000+ vehicles a day on an adjacent road",
   "grp": "place",
   "evidence": "83,708 on SR 520",
   "origin": "fhwa-hpms"
  },
  {
   "slug": "place-apartment-boom-county",
   "name": "County permitting 2,000+ apartment units a year",
   "grp": "place",
   "evidence": "7,119 units, King County",
   "origin": "census-bps"
  },
  {
   "slug": "place-rent-2000-plus",
   "name": "County typical rent $2,000+",
   "grp": "place",
   "evidence": "$2,323/mo",
   "origin": "zillow"
  },
  {
   "slug": "place-freeway-frontage",
   "name": "Interstate or freeway within 600 m",
   "grp": "place",
   "evidence": "SR 520",
   "origin": "fhwa-hpms"
  },
  {
   "slug": "policy-masterplan",
   "name": "Master plan or PUD",
   "grp": "policy",
   "evidence": "ed through 2039,\u201d completed environmental review, finalized master plan, more than $21 million in infrastructure already invested, ",
   "origin": "record"
  },
  {
   "slug": "strategy-redevelop",
   "name": "Redeveloped",
   "grp": "strategy",
   "evidence": "The site comes with an approved development agreement \u201cvested through 2039,\u201d completed environmental review, finalized master plan, more than $21 million in infrastructure already invested, and 6.9 ne",
   "origin": "record"
  },
  {
   "slug": "use-housing",
   "name": "Housing",
   "grp": "use",
   "evidence": "new_use field",
   "origin": "newtypes-extraction"
  },
  {
   "slug": "use-office",
   "name": "Office",
   "grp": "use",
   "evidence": "new_use field",
   "origin": "newtypes-extraction"
  },
  {
   "slug": "use-retail",
   "name": "Retail (continued)",
   "grp": "use",
   "evidence": "new_use field",
   "origin": "newtypes-extraction"
  }
 ],
 "sources": [
  {
   "id": 7794,
   "site_id": "n-93338e8767",
   "url": "https://www.thenewstribune.com/news/business/article314869064.html",
   "title": "Massive former Sears site in Washington state is on the market",
   "publisher": "thenewstribune.com",
   "date": null,
   "quote": "Overlake Seritage property",
   "kind": "news",
   "license": null,
   "retrieved": "2026-10-18"
  }
 ],
 "parties": [],
 "events": [],
 "gallery": [],
 "anchors": [],
 "deals": [],
 "owner_of_record": null,
 "ctx": {
  "assessment": {
   "what_happened": "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"
   ],
   "risks_and_unknowns": [
    "No construction start date or completion timeline",
    "No specific housing unit targets or office space metrics",
    "No developer name or project financing details"
   ],
   "data_quality": "partial",
   "one_line": "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.",
   "model": "qwen3-30b-a3b-64k:latest",
   "machine": "Dell 5820 RTX 3090 (Ollama, qwen3-30b-a3b)",
   "record_sha1": "3077ee9ba3fe"
  },
  "cluster": {
   "within_10km": [
    {
     "id": "n-b809b05748",
     "name": "Sears site at Overlake Plaza",
     "city": "Redmond",
     "status": "proposed",
     "km": 0.0
    },
    {
     "id": "n-bc22d44a71",
     "name": "Overlake Plaza",
     "city": "Redmond",
     "status": "proposed",
     "km": 0.0
    },
    {
     "id": "m-04e4bae70a",
     "name": "Kirkland Parkplace",
     "city": "Kirkland",
     "status": "built",
     "km": 5.6
    },
    {
     "id": "n-f02f6d63c6",
     "name": "Kirkland Heights",
     "city": "Kirkland",
     "status": "under construction",
     "km": 6.3
    },
    {
     "id": "m-c014116418",
     "name": "Totem Lake Mall",
     "city": "Kirkland",
     "status": "built",
     "km": 6.4
    },
    {
     "id": "n-729ff37c48",
     "name": "12th Place, Building A",
     "city": "Bellevue",
     "status": "proposed",
     "km": 6.7
    },
    {
     "id": "n-10ffd7d13a",
     "name": "Bellevue Manor",
     "city": "Bellevue",
     "status": "built",
     "km": 8.0
    },
    {
     "id": "n-5c1de99885",
     "name": "Bellevue North",
     "city": "Bellevue",
     "status": "approved",
     "km": 8.0
    }
   ],
   "count_10km": 8,
   "count_25km": 19
  },
  "elevation": {
   "elevation_ft": 40.1,
   "resolution": 1,
   "source": "USGS EPQS (3DEP)",
   "retrieved": "2026-10-20"
  },
  "food_access": {
   "tract10": "53033032309",
   "urban": 1,
   "lila_1_10": 0,
   "low_access_1mi": 0,
   "lapop1share": 3.2400972263477303,
   "poverty_rate": 7.28185044670175,
   "median_family_income": 134688.0,
   "snap_households": 123.0,
   "pop2010": 5212.0,
   "source": "USDA ERS Food Access Research Atlas 2019 (ArcGIS copy)",
   "retrieved": "2026-10-20"
  },
  "housing_market": {
   "zhvi": {
    "latest": 824870,
    "month": "2026-09",
    "change_1y": -0.022,
    "change_5y": 0.074
   },
   "zori": {
    "latest": 2323,
    "month": "2026-09",
    "change_1y": 0.016,
    "change_5y": 0.146
   },
   "county_fips": "53033",
   "source": "Zillow Research (ZHVI, ZORI)"
  },
  "jobs_lodes": {
   "tract20": "53033032331",
   "jobs": 11465,
   "retail_jobs": 679,
   "food_accommodation_jobs": 1970,
   "year": 2022,
   "source": "Census LEHD LODES8 WAC 2022 (all jobs, primary and secondary), blocks summed to the 2020 tract",
   "retrieved": "2026-10-20"
  },
  "listings": {
   "zip": "98052",
   "month": "202609",
   "median_listing_price": 1050975,
   "median_listing_price_yy": -0.1946,
   "active_listing_count": 192,
   "median_days_on_market": 40,
   "price_reduced_share": 0.1539,
   "pending_ratio": 0.3342,
   "source": "Realtor.com Research, inventory core metrics by ZIP (ZCTA at the site point)",
   "retrieved": "2026-10-20"
  },
  "opportunity": {
   "tract10": "53033032309",
   "kfr_p25": 0.4875,
   "jail_p25": -0.0032,
   "kids_count": 92.5259,
   "commuting_zone": "Seattle",
   "vintage": "children born 1978-83, outcomes measured 2014-15",
   "source": "Opportunity Insights, Opportunity Atlas (Chetty, Friedman, Hendren, Jones, Porter 2018)",
   "retrieved": "2026-10-20"
  },
  "peers": {
   "peers": [
    {
     "id": "n-bc22d44a71",
     "name": "Overlake Plaza",
     "city": "Redmond",
     "state": "WA",
     "score": 6.5,
     "why": [
      "same strategy: redevelop",
      "also in WA",
      "0 km away"
     ]
    },
    {
     "id": "n-b809b05748",
     "name": "Sears site at Overlake Plaza",
     "city": "Redmond",
     "state": "WA",
     "score": 6.5,
     "why": [
      "same strategy: redevelop",
      "also in WA",
      "0 km away"
     ]
    },
    {
     "id": "n-75ade54c49",
     "name": "Trailhead",
     "city": "Issaquah",
     "state": "WA",
     "score": 6.0,
     "why": [
      "same strategy: redevelop",
      "also in WA",
      "16 km away"
     ]
    },
    {
     "id": "n-729ff37c48",
     "name": "12th Place, Building A",
     "city": "Bellevue",
     "state": "WA",
     "score": 6.0,
     "why": [
      "same strategy: redevelop",
      "also in WA",
      "7 km away"
     ]
    },
    {
     "id": "n-3979b69ba3",
     "name": "NOAA research station and surrounding 26 acres",
     "city": "Mukilteo",
     "state": "WA",
     "score": 6.0,
     "why": [
      "same strategy: redevelop",
      "also in WA",
      "34 km away"
     ]
    },
    {
     "id": "m-c2364f77d1",
     "name": "Northgate Mall",
     "city": "Seattle",
     "state": "WA",
     "score": 5.5,
     "why": [
      "same strategy: redevelop",
      "also in WA",
      "16 km away"
     ]
    }
   ],
   "method": "size, era, strategy, status, type, state, distance"
  },
  "permits": {
   "county": "King County",
   "2024": {
    "units_1": 2352,
    "units_2_4": 1093,
    "units_5plus": 7119,
    "value_total": 2710126160
   },
   "2023": {
    "units_1": 2238,
    "units_2_4": 1089,
    "units_5plus": 7274,
    "value_total": 2504322180
   },
   "retrieved": "2026-10-18"
  },
  "qcew_retail": {
   "county": "53033",
   "year": 2025,
   "establishments": 5725,
   "employment": 102448,
   "avg_annual_pay": 60273,
   "lq_employment": 0.72,
   "employment_change_1y": -1.1,
   "source": "BLS QCEW 2025 annual, county, NAICS 44-45 retail trade, private",
   "retrieved": "2026-10-20"
  },
  "retail_trend": {
   "2012": {
    "estab": 6564,
    "emp": 96932
   },
   "2023": {
    "estab": 5912,
    "emp": 104570
   },
   "estab_change": -0.099,
   "emp_change": 0.079,
   "county_fips": "53033"
  },
  "schools": {
   "district": "Lake Washington School District",
   "district_geoid": "5304230",
   "grades": "PK-12",
   "district_vintage": "SY2024-25",
   "public_schools_1mi": 5,
   "schools": [
    "Benjamin Rush Elementary",
    "Redmond Elementary",
    "Contractual Schools",
    "Old Redmond Schoolhouse",
    "Sammamish River Valley Online School"
   ],
   "schools_vintage": "SY2023-24",
   "source": "NCES EDGE",
   "retrieved": "2026-10-20"
  },
  "storms": {
   "county": "53033",
   "years": "2016-2025",
   "events": 8,
   "by_type": {
    "Heavy Rain": 6,
    "Debris Flow": 1,
    "Flood": 1
   },
   "property_damage_usd": 34994000,
   "deaths_direct": 1,
   "injuries_direct": 1,
   "note": "county-typed events only; events logged to forecast zones (CZ_TYPE Z: most winter, heat, flood and coastal events) are not counted",
   "source": "NOAA NCEI Storm Events Database, details files",
   "retrieved": "2026-10-20"
  },
  "traffic": {
   "max_aadt": 83708,
   "trucks_aadt": 2963,
   "road": "SR 520",
   "class": "freeway or expressway",
   "lanes": 6,
   "segments_600m": 34,
   "year": "2024",
   "source": "FHWA HPMS",
   "retrieved": "2026-10-20"
  }
 },
 "parcels": [],
 "url": "https://retrofitatlas.org/big-box/wa/redmond-overlake-seritage-property/",
 "photo": null,
 "provenance": {
  "after_notes": "newtypes-extraction"
 }
}