Sound Transit Lynnwood City Center TOD Acquisition

Deal value: $105,000,000

Sound Transit acquired land adjacent to the Lynnwood City Center light rail station for a mixed-use TOD project including 400 residential units, 80,000 sq ft retail, and a public plaza directly connected to the new light rail extension.

The core investment motivation is to leverage the new Lynnwood City Center light rail station by creating a mixed-use, transit-oriented development (TOD) that maximizes affordable housing, community services, and retail. This investment is driven by the belief that proximity to high-capacity transit catalyzes sustainable urban growth, addresses acute housing affordability needs, and supports regional policy goals for density and reduced car dependence. The timing aligns with the completion of the light rail extension and regional efforts to concentrate development near transit hubs.