One of downtown Kirkland’s landmark businesses intends to stay in town.

Wave Broadband, which currently occupies a large portion of Park Place, recently signed a 10-year lease as a primary tenant at the Kirkland Urban development slated for completion in September 2018.

The business has been based in Kirkland since it was founded by CEO Steve Weed in 2003, and has grown from three employees and 1,300 square feet to 450 Kirkland-based employees and a 42,000 square-foot space.

The new space in Kirkland Urban includes the top three floors of the “Urban Central” tower: 88,000 square feet with options in the lease to expand, should the company continue to grow as expected.

Wave will continue to operate in the Park Place tower while the first phase of Kirkland Urban is completed, and then simply move across the parking lot.

“That was key to what we wanted,” Weed said. “With 450 people here, we occupy almost the whole tower [at Park Place], and it would be disruptive for us to leave.”

The new tower is the only place in Kirkland big enough for Wave, Weed said, meaning that should the company have to find temporary headquarters elsewhere, it’d be unlikely to return to Kirkland.

Weed has been a Kirkland resident since moving from Everett in 1989, and said he wanted to stay local — at least initially.

Having “happy employees” is key to good service, Weed said, meaning there’s no better place than downtown Kirkland. There’s a reason other tech companies are located nearby, including Google, which once occupied part of Park Place.

Weed said he didn’t know much of what the inside of the new development would offer, but with the amenities surrounding the tower — restaurants, a major grocery store, Peter Kirk park, the lake — there are plenty of reasons for employees to enjoy coming to work.

“It’s going to be the best development anywhere on the Eastside,” Weed said.

Tableau Software has signed a lease as the primary tenant in the “Urban North” tower, occupying 92,000 square feet.