Woodinville Retail Center drops home improvement store from plan
by Jeff Switzer
In response to the economic analysis in the draft environmental impact statement for the proposed downtown retail center, TRF-Pacific has announced the proposed home improvement store element has been withdrawn from the plans.
With the existing Ernst, McLendon's, Molbak's, DeYoung's, Knoll Lumber and Olympic Nursery, and the Bothell Home Depot slated to open in spring 1996, future growth in demand for building materials and nurseries was not expected to be sufficient to accommodate the new project "without negatively affecting sales volumes of existing stores in Woodinville."
Instead, the 130,000 square-foot building "will now include a number of varied national retail tenants for which large demand has been identified," said Robert Parks, president of TRF-Pacific, Inc.
The analysis indicates that the increased retail traffic often leads to increases in eating/drinking and automotive categories, while leading to a reduction in sales in competing businesses.
"Where large discount stores locate in existing commercial districts, existing shopping centers and tenants showed increases in sales," the report said.
The proposed 43.44-acre shopping center has been described as a "power center" with a potential trade area extending up to 50 miles or beyond. Projected taxable sales with the home improvement center were at $76 million.
In the economic analysis, the aggregate income of the 9,510 people, living in 3,412 households in the Woodinville area totaled an estimated $231 million in 1994.
The local market area and regional market areas that would be influenced by the development were defined as extending to Duvall, Kenmore, Thrasher's Corner, Redmond and Clearview, an estimated 60,000 people in 1994 with an aggregate income of $1.3 billion.