 FRONT PAGE Archive Index Feedback |
|
|||||
|
|||||
|
| |||||
City Council Buys Ballard Safeway Property for $5.1 Million
Mar 22, 2001 -- On March 7, the Seattle City Council unanimously approved the purchase of the former Ballard Safeway property, located at 5701 22nd Avenue NW, for $5.1 million. The city will take possession of the property on March 20, 2001.The city had originally offered $3 million for the property, as reported in the January 24 Seattle Press. According to Dick Lilly, a spokesman for Mayor Paul Schell, Safeway never responded to that offer, but finally countered that they were considering a $6 million offer from a private developer.
The Ballard Safeway site is specifically identified in the Ballard Master Plan as the preferred site for a central neighborhood park. City Council had previously authorized formal acquisition of the property, through condemnation if necessary.
The city filed for condemnation in King County Superior Court on February 8. This filing gave both sides a strong incentive to settle: if the condemnation proceedings reached trial, a jury decision would determine the fair-market value of the property.
The city and Safeway Inc. agreed on the $5.1 million price tag before condemnation proceedings commenced. According to one Ballard-area developer, $4 to $4.8 million was a fair price for the property, given the central Ballard market.
The neighborhood park to be created on the site is part of the Ballard Master Plan, which also includes a new library, a new full-service neighborhood service center and a senior center, as well as retail and residential uses.
Mayor Schell called the agreement "city-community partnership at its best." He added, "This is a wonderful opportunity to support the Ballard community's goal of developing a civic core--combining a park, library, neighborhood center, housing and community services all in the heart of the neighborhood."
Reader Comments
Discuss this article in the forums!
No comments yet!