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Wenatchee Riverfront Development

By Carol Williams

Education & Training with Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals.

April 28, 2008 09:26 AM

Wenatchee riverfront park near Blodgetts property Ken Blodgett, a major figure in the evolution of the Wenatchee riverfront development planning has put 4.7 acres up for sale for 3.5 million dollars. This is property that was slated for condos.

Blodgett's listing agent, Ron Stephenson of Premier One Properties, was quoted as saying: "The reason he decided to do it is because he's 68 years old and he decided he needed to kick back."

Does Blodgett see the need for additional condos slowing? Will all the recent condo conversions in Wenatchee and new builds (around town and at the riverfront) sustain market demand for a while?

Here is a link to the complete article from the local newspaper, The Wenatchee World.

It will be interesting to see how much interest there is for the property and how soon development will proceed. It's an exciting piece of property for sure for the entity with the ambition and money to take it on!

Have a wonderful day!

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Chuck Christensen

Your Financial Coach - Bellingham, WA

You said he was selling the 4.7 acres...not that he himself is going to build the condo's. Obviously he was just holding onto it as an investment, and is now turning a profit. Why was the Realtor answering questions about his client...were is the confidentiality? I have been down the Wenatchee a few times...it is very beautiful. I would be tempted to buy one of those condo's myself....

Apr 28, 2008 10:00 AM

Carol Williams

Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA

Retired Agent / Broker / Prop. Mgr, Wenatchee, WA

Hi Chuck, Thanks for stopping in. I don't think the agent said anything confidential. That was most likely a public excuse and there is more to the story. From what I understand, the City is not very happy Blodgett has backed off on his participation in the BIG plan for development.

How is life in Bellingham?

Apr 28, 2008 10:14 AM

Carol He did mention his client is 68 years old and needed to kick back...no big deal....but is it for him to tell the public, whom are not making an offer in writing.

Does Blogget see the need for condo's slowing....is this so everyone in town can gossip about it.....It will probable take a year after the sale to do a feesability study, and 6 months to have plans drawn up, another 2 or 3 years to build it before puting it on the market, for Realtors to start listing and selling them. The first 50% is going to be hard to sell until they turn it over to the Condo association....so you looking at 4 years down the road. Hopefully we will have anew governor. We will be starting to elect a new President again, and no one knows how the economy will be 4 or 5 years from now...that is why Investment property is called "speculating" because we can only hope for a good return.But won't that be wonderful, more housing for you to sell or bring in buyers.

Apr 28, 2008 11:22 AM

The development has already been approved by the city as part of the comprehensive plan, so there will be no long drawn out feasibility period... unless, of course, the new buyer wants to do something completely different. The City wants this development.

Apr 28, 2008 04:33 PM

OH-NO! The city wants it...are they going to raise taxes and sell municipal bonds to let the people pay for it. It's not a stadium, but aren't condo projects next? Is somebody that's on the inside of the council pushing the sale...or buying it? Wenatchee and Levenworth have enough condo's on the river already. But, it will be good for the business were in....

Apr 29, 2008 05:39 AM

Chuck: Sorry. I didn't mean to give you the impression the City wants to buy the project... only that they are in favor of it for economic activity.

Apr 29, 2008 06:44 AM

I understood that. The city doesn't own Quest Field, or Safeco Field, it is just that the taxpayers get to pay for it.. Even though they voted it down 3 times...the Governor decided it was best for the people, they just didn't understand.

Apr 29, 2008 09:53 AM

Wenatchee Riverfront Development

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