Vulcan Redevelopment May Strike Blow To Seattle’s
Heart of Boat Business in South Lake Union
Vulcan Real Estate, the estate holder of the Chandler’s Cove property of South Lake Union, Seattle, released to tenants notification of redevelopment beginning in the third quarter of 2018 at the earliest. According to the notice, “The scope of the redevelopment will include demolition of the existing buildings and development of new infrastructure of the property.” Both the Chandler’s and HC Henry Pier parcels are included in this redevelopment, according to the notice.
The area is largely considered the beating heart of the recreational boating industry in Seattle. Tenants of the land include yacht brokerage companies like Emerald Pacific Yachts, Chuck Hovey Yacht Sales, Hampton Yacht Sales, and Crow’s Nest Yacht Sales. The moorage at Chandler’s Cove, an increasingly rare commodity in the booming Seattle, not only makes the boating industry as we know it viable, but also the in-water shows that the boating community relies upon possible. It is unclear how development of the area will affect the Lake Union Boats Afloat Show and The Seattle Boat Show, the West Coast’s largest boat show. Both events depend upon moorage for marine businesses to both showcase and manage their products.
Details are evolving quickly and Northwest Yachting will continue to report upon this development. In the meanwhile, enjoy the in-water portion of the Seattle Boat Show, for it could look very different in the years to come. Included here is the letter sent to the Chandler’s Cove tenants, redacted for privacy.
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LETTER TO TENANTS, REDACTED FOR PRIVACY: RE: Chandler’s Cove …We (Vulcan Real Estate) are in the early planning and design process for the redevelopment of Chandler’s Cove, including both the Chandler’s and HC Henry Pier parcels… Given that we are in the early stages of planning and design, we do not currently have a definitive timeline for the redevelopment effort. Vulcan Real Estate is under the working assumption that the earliest redevelopment can begin is during the 3rd Quarter of 2018. We are committed to providing updates as we further advance our planning, to include more detailed milestones. The scope of the redevelopment will include demolition of the existing buildings and development of new infrastructure on the property, in compliance with the applicable codes. As such, all Chandler’s Cove tenants will need to vacate their respective premises, which includes use of the piers and docks, in advance of the construction phase… We are willing to delay construction at the property until mid-September 2018. However, until construction commences, the property will remain fully operational and businesses can continue normal operations. … Should you have any questions in the interim, please contact me at geralynv@vulcan.com or Lyn Saucier at lsaucier@chilesandco.com. |
