Developer Lander Korus nestles into Federal Way

Lander Korus Inc., a South Korean company with ties to redevelopment efforts at Federal Way’s former AMC Theatres site, has established an office in Federal Way.

A Lander Korus representative said the company’s Federal Way office is new and is not a relocated office. Lander Korus is not pursuing development opportunities locally but is interested in building in Federal Way in the future, the rep said.

In September 2009, Lander Korus partnered with United Properties, the Canadian developer the Federal Way City Council contracted with in 2007 to construct a mixed-used project, referred to as Symphony, at the AMC Theatres site. United Properties was experiencing difficulty securing funding for the project and thought Lander Korus could attract foreign funding. Lander Korus, at that time, was looking to invest in a sizable project in Washington. By May 2010, United Properties and Lander Korus, due to a lack of finances, gave up on developing the AMC site. United Properties handed the project to Twin Development. Lander Korus has not been involved in the site’s redevelopment since.