Amtrak and Sounder passengers will enjoy more space and easier access to travel services like tickets, baggage, coffee, connecting transportation, and travel information. The flow of travelers and pedestrians through the station will be greatly enhanced, particularly during special events like baseball or football games. Connections to light rail, office buildings, and transit across Fourth Avenue will be enhanced. A new transit hub outside the station on Third Avenue will improve service for neighborhood residents and workers and will also improve transportation connections for rail travelers. Bicycle storage will be improved.
Historic preservation is an important part of the redevelopment project.
The recently completed renovation of historic Union Station just east of this building is a dramatic example of how stunning King Street Station will appear after the restoration has been completed. Major funding sources include the Federal Transit Administration, Amtrak, and the Transportation Improvement Board. Given that additional government money is not anticipated, the proposed method to bridge the funding gap is the use of IRS 63-20 financing. To qualify, at least 90 percent of the building space must be leased to public organizations over the life of the bonds. 63-20 financing was recently used to fund a student housing project at the University of Washington and to construct King County's recently opened King Street Center, located immediately west of the King Street Station.