Woodbridge Seeks to Preserve Weyerhaeuser HQ Building

Woodbridge Corporate Park recently unveiled several measures to preserve and protect the historical aspects of the former Weyerhaeuser headquarters building and industrial campus. The measures are proposed in connection with an extensive permit process that began in 2016 and include:

• Establishing a view-conservation easement on the meadows so no development would block views, thus allowing the former Weyerhaeuser headquarters building to always be visible from I-5 and State Highway 18
• Establishing an historic-preservation easement on the exterior facade of the headquarters building
• Providing a forested buffer on development sites so the buildings are hidden from roadways

“The revenue generated from the development of the property pays for the preservation of the campus,” said Dana Ostenson, who oversees Woodbridge. “Similar to other corporate-campus redevelopment projects that we’ve led around the country, we are recreating at Woodbridge the critical jobs and tax base lost after an exit by a large company.”

Construction of the proposed Woodbridge Corporate Park will create 780 temporary jobs and generate $13 million in tax revenue to Federal Way in a three-year period. Once the campus is completed and operational, Woodbridge will generate an additional 3,100 new permanent jobs and generate $6.8 million in annual tax revenue for Federal Way to support community services and programs.