Triad Lagoon Valley, a Washington-based limited liability company affiliated with Seattle-based Triad Development, has purchased 840 acres from Lennar Corp.
Triad is planning to develop Lagoon Valley, a mixed-use community on the site. The development is approved as a conservation community, balancing jobs and housing, with more than 80 percent of its specific plan area entitled for open space/recreational use.
Site grading is slated to begin in May, with building construction scheduled to begin in early 2021.
Lagoon Valley will include Class A office space, 12 residential neighborhoods and a variety of recreational components. The office portion — Ascend Lagoon Valley — will feature seven four-story buildings ranging in size from 700,000 square feet to potentially one million square feet. Additionally, Ascend will offer a 30,000-square-foot amenity building with a fitness center, food and recreation space.
Outdoor amenities at the property will include an amphitheater, sports courts and field space. Lagoon Valley is also surrounded by 2,000 acres of protected open space, including a 470-acre Lagoon Valley Park, 100-acre lake, a centrally located eight-acre public park and numerous neighborhood parks.
There will also be a fire station, a 50,000-square-foot town center with independent retail shops and restaurants, affordable housing, a golf course and 940 single-family market-rate homes.
The project will consist of six four-story buildings. A 30,000-square-foot amenities building will offer a fitness center, food services and recreation space. Additionally, the office project will include an amphitheater, sports courts and field space as outdoor amenity space, as well as a transit center.
The surrounding 1,200 acres of protected open space includes the 470-acre Lagoon Valley park and 100-acre lake, plus an adjacent eight-acre public park. The land adjacent to the development is entitled for residential development.
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