Issaquah City Council heard testimony from Shelter Holdings, Regency Centers and Issaquah Highlands residents regarding the High Street Collection Development Agreement during a special meeting on Monday, Nov. 13.
Issaquah Highlands Investment Fund-Commercial, LLC (IHIF-C), also known as Shelter Holdings, owns about 21.5 acres of land in Issaquah Highlands intended for various commercial, retail and residential uses. Read more about the history of the development agreement here.
“We very much appreciate the opportunity to be thoughtful, long-term participants in this thriving Issaquah Highlands community to make it even more enjoyable to call it home,” said Gary Young, co-founder of Shelter Holdings.
Following several years of legal disputes, Shelter Holdings applied for a new development agreement with the city in October 2023. The developer is now planning for 325,000 square feet of commercial and retail uses as well as 1,250 residential units and 35,000 square feet for community recreation.
“We’re excited that the development agreement establishes a framework that will make it possible to build a project that responds to many of the very diverse needs that we have heard requested over the years,” Young said.
A public comment period for the proposed development agreement was open through Oct. 20. Find the comments (and answers from city staff) here. A majority of residents expressed concern about the traffic impact generated by increased retail and residential units. The city argues the project will not result in additional traffic impacts beyond those already planned for and mitigated in Issaquah Highlands.
Tia Tiem, council for Shelter Holdings, added that Lakeside Industry’s property was factored into the growth rate for the city’s traffic analysis.
“The traffic analysis was thorough,” she said. “It used updated traffic counts, and it found that under the new development agreement, it would generate fewer total trips and no significantly different overall impacts than what was allowed and planned for under the Issaquah Highlands Development Agreement.”
Craig Ramey of Regency Centers, which owns Grand Ridge Plaza (GRP), said he thinks it’s important that Shelter Holdings and the city are respectful of the investment that has taken place across the street over the last decade. He wants to ensure the new development keeps in line with GRP and the rest of the community, he added.
Kurt Utterback, who is the market officer overseeing GRP, said the shopping area is a proud partner in the community. He noted how this partnership is shown through various initiatives such as Light Up the Lanes, We’re Here with You Wednesday and the new staircase mural behind DICK’s Sporting Goods.
“As the council looks to finalize the development of Issaquah Highlands, I encourage you to continue to include Regency Centers as a partner in the growth of the community, protecting what was built and building on the vision for the future,” Utterback said.
According to the agenda bill, the city’s administration recommends adoption of the ordinance approving the agreement. Issaquah City Council will consider the ordinance during its regular meeting on Nov. 20.
