Public Workshop – Mountlake Terrace Library – May 15, 2018 Economic Vitality & Town Center Plan Update
Public Workshop – Mountlake Terrace Library – May 15, 2018 TASK FORCE MEMBERS
Public Workshop – Mountlake Terrace Library – May 15, 2018 Economic Vitality & Town Center Plan Update
Public Workshop – Mountlake Terrace Library – May 15, 2018 Economic Vitality & Town Center Plan Update
Public Workshop – Mountlake Terrace Library – May 15, 2018 Existing Development Pattern (Building Form & Parcel Size) Economic Vitality & Town Center Plan Update
Public Workshop – Mountlake Terrace Library – May 15, 2018 Current Use of Property (Snohomish County Assessor) • Town center cannot be seen from I-5 or major transportation corridors • Dominated by single family residential lots • Small parcels can be a financial hurdle when preparing a site for larger development • Civic center campus will be a major activity generator, but is currently outside TC limits • Veterans Park is located between light rail station and civic campus and Town Center • Opportunities to incorporate Veterans Park into Civic Center Campus Economic Vitality & Town Center Plan Update
Public Workshop – Mountlake Terrace Library – May 15, 2018 Transportation Network Functional Classification from 2015 Comprehensive Plan • Vehicle traffic is important for a successful retail business. Ballinger Way in front of Thriftway (Shoreline) sees 23,000 trips/day. • Busiest Mountlake Terrace streets are 212 th , 220 th and 244 th . • Compared to many cities in the region, our roadways have low vehicle volumes and limited transportation congestion. • Future Gateway Connector will connect 236 th Street SW with 244 th Street SW Economic Vitality & Town Center Plan Update
Public Workshop – Mountlake Terrace Library – May 15, 2018 It takes between 5 to 10 minutes to walk to activity areas in town center Most homes in the area are within a 5 minute walk of a transit stop. Economic Vitality & Town Center Plan Update
Public Workshop – Mountlake Terrace Library – May 15, 2018 Cit City of of Mou ountlake Terr errace D EMOGRAPHIC AND E CONOMIC P ROFILE K EY T AKEAWAYS Economic Vitality & Town Center Plan Update
Public Workshop – Mountlake Terrace Library – May 15, 2018 P OPULATION T RENDS > Mountlake Terrace’s population Exhibit 1. Historic Population, Mountlake Terrace and Comparison Cities, 1968-2017 growth has been low in recent 45,000 years Edmonds 40,000 Lynnwood 35,000 Total City Population >Bothell has been growing much Bothell 30,000 faster in recent years. 25,000 Mountlake Terrace 20,000 >Growth in Edmonds and 15,000 Lynnwood has slowed over the 10,000 Lake Forest Park past decade. 5,000 0 1968 1970 1972 1974 1976 1978 1980 1982 1984 1986 1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014 2016 Exhibit 2. Compound Annual Population Growth, Mountlake Terrace and Comparison Jurisdictions, 2007-2017 Mountlake Lake Forest Terrace Bothell Edmonds Kenmore Park Lynnwood Shoreline Snohomish County King County CAGR, 0.6% 3.1% 0.4% 1.3% 0.3% 0.5% 0.6% 1.4% 1.4% 2007-2017 Source: Washington State Office of Financial Management, 2017 Economic Vitality & Town Center Plan Update
Public Workshop – Mountlake Terrace Library – May 15, 2018 E MPLOYMENT AND H OUSEHOLDS Exhibit 3. Employment and Housing Growth Forecast, Mountlake Terrace, >The City is projected to 2000-2040 grow by Total HH or Employment Projected Growth approximately 2,000 14,000 household through 11,484 12,000 10,995 2040 10,034 9,420 10,000 8,807 10,512 8,193 7,985 >While modest future 9,913 9,441 8,000 9,518 8,643 growth is projected for 7,845 7,410 6,000 7,047 Mountlake Terrace, it 4,000 would be more than 2,000 the City has seen in recent decades. 0 2000 2005 2010 2015 2020 2025 2030 2035 2040 Households Employment Exhibit 4. Projected Growth in Households and Employment, Mountlake Terrace and Comparison Jurisdictions, 2010-2040 CAGR, Mountlake Lake Forest Snohomish 2010-2040 Terrace Bothell Edmonds Kenmore Park Lynnwood Shoreline King County County Households 1.1% 1.8% 0.7% 1.2% 0.5% 1.5% 0.5% 0.8% 1.0% Employment 1.3% 1.3% 0.6% 2.7% 0.8% 2.2% 1.4% 1.6% 1.8% Economic Vitality & Town Center Plan Update
Public Workshop – Mountlake Terrace Library – May 15, 2018 D EMOGRAPHICS : H OUSING & J OBS >In 2016, Mountlake Terrace had 7,795 jobs Exhibit 5. Jobs-Housing Ratio, Mountlake Terrace and Comparison Cities, 2016 and 8,990 housing units, which means there are 2.5 0.9 jobs for every home in the City. 1.9 2.0 1.8 Jobs-Housing Ratio >Mountlake Terrace has a 1.4 1.5 balanced jobs to housing ratio compared to cities 0.9 1.0 0.9 like Bothell (a jobs 0.7 0.6 importer) or Lake Forest 0.5 0.4 Park (a bedroom 0.3 community) 0.0 Bothell Lynnwood King Mountlake Snohomish Shoreline Edmonds Kenmore Lake Forest County Terrace County Park Source: PSRC, 2016; Washington State OFM, 2016 Economic Vitality & Town Center Plan Update
Public Workshop – Mountlake Terrace Library – May 15, 2018 D EMOGRAPHICS : H OUSING & J OBS >Mountlake Terrace has a high share of people in Exhibit 6. Age Distribution, Mountlake Terrace and Snohomish County, 2016 their 20s and a low share Share of Population of teenagers compared 18% 17% to Snohomish County 16% 15% 15% overall 15% 14% 14% 14% 13% 13% 13% 13% 13% 12% 11% 10% 10% 10% 8% 8% 8% 6% 4% 2% 0% Under 10 10 to 19 20 to 29 30 to 39 40 to 49 50 to 59 60 to 69 70 and Over Snohomish County Mountlake Terrace Source: US Census Bureau, ACS Estimates 2012-2016 Economic Vitality & Town Center Plan Update
Public Workshop – Mountlake Terrace Library – May 15, 2018 D EMOGRAPHICS : F INDINGS > Mountlake Terrace’s population growth > There is a similar share of families has been low over the past few with children compared to Snohomish decades and King County overall > The City has a higher concentration of > The City has a nearly balanced jobs- people in their twenties compared to housing ratio , meaning it has a similar Snohomish County overall amount of housing compared to the number of jobs located in the City > The City has become more diverse in > While the projected future growth terms of race and ethnicity since the year rate is not very high, it is higher than 2000 the growth the City has experienced in > There are slightly more single person recent decades households and fewer large families compared to the County overall Economic Vitality & Town Center Plan Update
Public Workshop – Mountlake Terrace Library – May 15, 2018 L OCAL E CONOMY : I NCOME >Mountlake Terrace has a lower median Exhibit 7. Median Household Income, Mountlake Terrace and Comparison Jurisdictions, 2016 household income Median HH compared to many of Income $120,000 its neighbors. $96,217 $100,000 $93,227 $86,167 $78,800 $78,181 $80,000 $73,528 $70,398 $66,512 $60,000 $53,308 $40,000 $20,000 $- Lynnwood Mountlake Shoreline Snohomish Edmonds King Bothell Kenmore Lake Terrace County County Forest Park Source: US Census Bureau, ACS 5-Year Estimates, 2012-2016 Economic Vitality & Town Center Plan Update
Public Workshop – Mountlake Terrace Library – May 15, 2018 L OCAL I NDUSTRIES >A high share of Mountlake Terrace’s Exhibit 8. Covered Employment, Mountlake Terrace and Comparison jobs are in FIRE Jurisdictions, 2016 Median HH industries (Finance, Income Wholesale, Insurance, and Real 35,000 Transportation & Utilities 30,712 Estate) 30,000 27,175 Manufacturing 25,000 >The amount of FIRE Retail jobs is similar to 20,000 Construction 15,962 Bothell and more than 15,000 Education 11,553 found in Lynwood, two Government 10,000 7,975 significant employment Services 5,000 3,707 1,684 centers Finance, Insurance, 0 Real Estate Mountlake Bothell Edmonds Kenmore Lake Forest Lynnwood Shoreline Terrace Park Source: PSRC, 2016 Economic Vitality & Town Center Plan Update
Public Workshop – Mountlake Terrace Library – May 15, 2018 I NFLOW & O UTFLOW Exhibit 9. Commuting Inflow & Outflow, City of Mountlake Terrace, 2015 > Only 4% Mountlake Terrace’s employed residents live and work in the City. 6,345 420 11,121 >Nearby cities Lynnwood, Bothell Work in Live and Live in Mountlake Work Mountlake and Shoreline all higher shares Terrace Terrace of people that live and work in the City There are 11,541 workers in Mountlake Terrace. 11,121 of these commute outside the City 420 of these live and work in the City Another 6,345 live elsewhere and work in Mountlake Terrace for a total of 6,765 jobs in Mountlake Terrace. Exhibit 19. Commuting Inflow & Outflow, Comparison Jurisdictions, 2015 Lynnwood Bothell Shoreline 26,545 2,139 18,221 13,488 2,123 23,340 25,112 1,750 15,243 Source: US Census LEHD, 2015 Economic Vitality & Town Center Plan Update
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