The subject property is a vacant lot located within the Lacey Corporate Center, which is an office planned development located at the northwest quadrant of College Street SE and Yelm Highway SE, next to the Lacey Crossroad development, which is predominantly retail. Lowes anchors the Crossroads development and various retail and financial companies occupying the majority of the southeast portion of the property. The subject property is surrounded by office users, including two Twin star Credit Union administrative and technical facilities, a school/day care center and three senior housing/rehab/skilled care facilities. Two lots directly across the street are owned by local investors, and the properties are now under contract with plans for over 200 apartments with a 3,000 square foot “conference center”, which will be permitted by the Lacey Corporate Center HOA. There is documentation from the city that there will be no traffic mitigation fees for the development of the subject parcel. The binding site plan allows for a 10,000 square foot building to be constructed on the subject parcel. The property is “Community Office” (CO) in the city of Lacey, which allows for professional and medical offices, daycare centers and senior housing, some light manufacturing and retail, only on the ground floor of a mixed-use project.