HomeMy WebLinkAboutPre-App Cover Letter-Final
777 THIRD AVENUE • 25 FLOOR • NEW YORK, NY 10017 | 212.698.4580 | WWW.INNOVATUSCP.COM
February 21, 2023
RE: Neptune Mixed-Use District Project
To whom this may concern,
Affiliates of Innovatus Capital Partners, LLC (“Owner”) seek to subdivide and create a mixed-use
commercial and residential subdivision at Triton Towers, the 19-acre site located at 555 South Renton
Village Place, 700 South Renton Village Place and 707 South Grady Way in Renton, WA. The proposed
development would include a combination of multifamily, street retail, structured parking, and a hotel to
complement the existing three office towers, collectively to be the Neptune Mixed-Use District Project.
The property may also include a new park area to provide residents and office tenants with communal
outdoor space. The Pre-Application submission attached hereto has been prepared in accordance with
the instructions provided on the City of Renton’s website. The submission outlines the project in detail
while addressing pertinent components discovered during our initial feasibility study.
This proposal outlines a win-win scenario for the City of Renton and the Owner as it embraces the
Rainer/Grady Junction Subarea Plan and creates a work, live, and play environment to enhance the
Renton Village area. The owner is a long-term investor that works and partners with cities like Renton to
create communities and increase city revenues through an added tax base which serves as a growth
catalyst. In this scenario, the Neptune Mixed-Use District Project will provide the City of Renton with a
new economic hub by activating the region through quality and innovation for the residents and
businesses.
Sincerely,
Bradley S. Seiden