Several years ago, Murray Franklyn purchased the former Jewish Community Center (JCC) property at the corner of 35th Ave NE and NE 86th Street with the intention of bringing Wedgwood’s first mixed-use, residential building. Vocal community opposition to the project developed although an agreement was ultimately reached and the project permit. However, then the economic downturn occurred and financing for the project collapsed. Since then, Murray Franklyn hired Kidder Mathews to sell the property on their behalf.
Today, the Daily Journal of Commerce reports that the property has been sold to Wood Partners, a national developer who just moved into the greater Seattle region in December 2010. According to the DJC’s article, Wood Partner’s purchased the property for $3.35 million and has started an limited liability company (LLC) called, “SP5 Wood Alta Wedgwood.” The article also confirms that this site is Wood Partners first acquisition is greater Seattle, according to a Wood Paterners spokesperson, but declined to provide project details until the construction loan closes.
The WCC’s Land Use Committee reached out, through Kidder Mathews, to all interested parties to let them know that our intentions are to be a cooperative partner provided their project either abides by the agreement reached between Murray Franklyn and the Wedgwood Action Group or meets the Vision Plan and the City’s soon-to-be adopted design guidelines. We now plan to personally reach out to Wood Partners to formally welcome them to our community reiterate our cooperative spirit and community values.
We’ll plan on posting more information to our Facebook page and on our website on the agreement and project design as it becomes available.
UPDATE (2-27-11): The Puget Sound Business Journal has an article on the recent purchase.
UPDATE (2-28-11): Mr Steve Orser with Wood Partners contacted the chair of the Wedgwood Land Use Committee. Mr. Orser didn’t disclose details of the project at this time but has offered to meet with the land use committee in the coming weeks. This is a welcomed gesture from the new owners of the JCC Property and the land use committee is looking forward to cooperating with Wood Partners where possible to make the project a win-win for the developer and the community as a whole.