We are committed to preserving the beauty of the campus with a vision for the future that restores jobs and revenue while respecting the environment.
Preserving unique elements of the property, including the iconic headquarters building and surrounding green spaces.
Restoring this marvelous campus requires thoughtful site planning and smart, sustainable development.
Creating thousands of new jobs and much-needed tax revenue lost when Weyerhaeuser moved away.
Industrial Realty Group is committed to preserving the unique attributes of Woodbridge Corporate Park and sustaining this invaluable asset for generations to come. As environmental and community stewards, we will maintain the vast majority of the Woodbridge’s 400 acres — voluntarily leaving it as natural space.
Preserving the architecturally significant headquarters and renovating and constructing buildings for a wide range of potential users — including industrial, office, biotech, life sciences, light-manufacturing, and R+D, among others — helps to establish a critical economic engine for Federal Way. Furthermore, the new uses and ground-up development will help to fund important services like schools, fire and rescue, and the police department, to name just a few.
As part of the extensive permit process at Woodbridge, we have taken significant steps to preserve this iconic property for future users and the greater Federal Way community — including a view-conservation easement on the meadow to maintain views of the headquarters, an historic-preservation easement on its exterior façade and a forested buffer on all current development sites.
We have created the right plan for this iconic property — at the right time — to help restore its celebrated past while generating much-needed economic-development opportunities for the future. Development will occur in a way that minimizes traffic, protects water quality, and preserves historic resources.
Our award-winning architectural team is designing light-industrial buildings shielded from view by dense tree buffers to wholly complement the existing elements of the campus — the headquarters building, open fields, maintained walking trails, sensitive wetlands, the North Lake waterfront, wooded areas, and the Bonsai Museum and the Rhododendron Species Botanical Gardens.
Our current plan will develop only 17% of the total Woodbridge property area, and our proposed new multi-functional industrial buildings will blend in seamlessly with the surrounding environment. The new development, which is fully consistent with current zoning, is designed to pay for the restoration and preservation of existing buildings and the natural assets across the campus.
Our vision for Woodbridge remains the same as it was when we acquired the property in 2016: restoring the jobs and tax revenue lost to the community when Weyerhaeuser left for downtown Seattle and establishing a new paradigm for a vibrant local commercial center that serves as the heartbeat of Federal Way’s future economy.
The departure of Weyerhaeuser from Federal Way took with it some 6,500 stable and secure jobs. It left a massive hole in the local economy that, still today, negatively impacts thousands of residents and other community stakeholders. Our development plan will create 780 temporary jobs and, once the campus is completed and operational, an additional 3,100 new permanent jobs for the community.
Our ground-up new industrial properties will generate $13 million in tax revenue to the City of Federal Way over a three-year period. Once they’re operational, these buildings will create $6.8 million in annual tax revenue for the City to support and enhance important community services and programs —including schools, water and fire, and community cultural funding, among many others.
