Mercer Island’s beloved True Value Hardware store has a new home. The store, soon to be displaced with the construction of the Legacy mixed use project, will remain in the Town Center.

True Value will relocate this summer to the former Overlake Clinic space next to Walgreens at 7707 S.E. 27th Street.

According to store owner, De Calvert, the agreement to lease the space was finalized over the weekend.

Calvert signed a lease with MI Shopping Center, LLC. Island landowners, Gary Lewis and Mark O’Shea, are both partners.

According to leasing agent, Jay Azose, the new space is 5,700 square feet — slightly smaller than the store’s current location.

Calvert said that she is glad to have the new space, but the process has been exhausting.

“This has taken a tremendous [amount of] time and energy,” she said. “And there is a lot to do before we are done.”

The new space will have to be completely gutted. It really has not sunk in yet, she said of the change.

“It is a bit smaller,  but we will just have to make it more efficient,” she said.

True Value’s present lease will expire in July.

Legacy Mercer Island is a five-story residential and commercial project undergoing design review and permitting at the city.

It will include 209 apartments, with a number of affordable units, 258 parking spaces, a public plaza, and commercial and retail space.