As discovered last week, a land use application to turn the Wild Waves property into a 1 million square-foot warehouse after it closes this year has been submitted to the city of Federal Way. The property owner characterized that after hearing Wild Waves would close, the choice for a warehouse project was only after investigating other potential uses. From the Federal Way Mirror's story:
Longtime property owner and former park operator Jeff Stock told the Mirror that after learning the park would no longer be financially viable to operate, he explored several possibilities for the location before settling on the warehouse project. In Dec. 2025, Oklahoma-based Premier Parks LLC, the park’s operator, announced that Wild Waves will close to the public on Nov. 1, 2026.
Stock said he was “emotional” when he heard the news because the Wild Waves site has been a big part of his life since purchasing it in 1990.
One possibility Stock explored for the property was a hotel or convention center, but there wasn’t too much interest in this, he said. He also learned that this project would take three to four years, and he wanted something that could be built faster.
The giant warehouse plan is an allowed use for the property only after a vote to amend the development agreement between the city and EPI Holdings, the property holdings company owned by Jeff Stock, removed a 25% cap on warehouses occupying the property. It was approved with a 5-1 city council vote during a December 2023 City Council Meeting. Current council president Susan Honda voted against it due to concerns about a giant warehouse occupying the space.
The closure of Wild Waves was publicly announced by operator Premier Parks on December 10, 2025, but a letter from property owner Jeff Stock in support of the Panattoni Development led warehouse project is dated December 5, 2025.
Soon after, pre-application materials were submitted to the city as a standard pre-application process. The city provided feedback on those materials during a January 15, 2026, meeting.
The materials submitted as part of the land use application are extensive and include traffic impact analysis, geotechnical reports, wildlife habitat assessment, architectural plans, and more. These reports and plans take weeks, if not months, to prepare in advance of review.
Some of these materials show on-site evaluation work started at least in November 2025.
"SVC investigated and assessed any potentially-regulated wetlands, streams, and other fish and wildlife habitat conservation areas on or within 300 feet of the subject property on November 26, 2025." - Wetland and Fish and Wildlife Habitat Assessment Report.
Other on-site preparation work occurred in November and December per the materials submitted including a tree inventory, geotechnical report, and traffic volume analysis.
Around two years before the warehouse project work started, owner Jeff Stock was before the City Council during their November 21, 2023 meeting as the council deliberated approving the modifications.
It was characterized that negotiations were ongoing with Premier Parks for a long-term lease, that they wanted to see a 30 year development agreement term, and that a 100% warehouse allowance addition was a 'just in case' but not imminent. The 100% warehouse provision was not brought up as something necessary to secure a long-term lease for Wild Waves and was purely for the property owner's benefit.
City staff in their presentation to the council could not have been clearer that this type of giant warehouse project and use for the property was possible at any point if the council approved the changes.
"The DA [development agreement] has absolutely nothing in it that would preclude [the property owner] from turning it entirely into warehousing in June of [2024]. On our side of the curtain is what is in the DA and the understanding [the council] should have is that there is nothing in there that gives the city a guarantee that what the property owner expressed in emails – we could rely on." - Federal Way Community Development Director Keith Niven during the 11/21/23 meeting.
In response to a comment by council member Linda Kochmar that any project would still need to be reviewed by the city, the city attorney added clarity that the review could only be to try and mitigate impacts but not block it.
"To be very clear, there would be considerable permitting review. But there is unlikely anything in that permit review that would allow the city to deny the permit." - Assistant City Attorney Kent van Alstyne during the 11/21/23 meeting.
Skepticism was expressed from former council member Paul McDaniel and current council president Susan Honda. McDaniel expressed concerns but ultimately voted yes as emails and testimony from the property owner gave the impression that a warehouse project wasn't imminent.
Former council member Jack Dovey spoke in strong support of all of the development agreement modifications.
"I look at making this change as one of those life changing things in Federal Way. If we don't give them the ... security of a long term agreement, then I don't think we are for jobs. In 2053 or if something happens and there's warehouses sometime down the [line], that's progress." - former council member Jack Dovey at the 11/21/23 meeting.
It turns out the approved changes are already life changing for Federal Way, especially the neighboring residents to the property. A written public comment submitted by a resident prior to the vote against the changes predicted it best.
"Looking at other projects already underway in the area, a large distribution center seems the most likely. If such an opportunity, suddenly, miraculously appeared, after a vote to remove the restrictions on re-developing the location, who will believe it was not previously planned, contingent upon this vote?"
The Wild Waves property sits less than a mile from a planned Sound Transit Link light rail station. The city has envisioned transit-oriented development (TOD) around the station, including most ambitiously a pedestrian bridge over I-5 connecting to the southwest corner of the Wild Waves property. That seems less likely now.
The warehouse project is estimated to generate 445 additional truck trips per day, most of them likely using Enchanted Parkway – the same road that will serve as the primary route to the new station from the southeast.
South Federal Way Station route options and a closer view of the preferred alternative route.
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