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CONTACT THE ENTERPRISE Jocelyn Robinson, News editor jrobinson@heraldnet.com

Port explores Harbor Square options

By Mina Williams
Enterprise editor

EDMONDS

Re-purposing the 14.6-acre Harbor Square complex, under current zoning, is unlikely due to projected return on investment, said Kapena Pflum, senior policy analyst, Berk & Associates, a Seattle-based interdisciplinary consulting firm. He presented redevelopment options during the Nov. 16 meeting of the Port of Edmonds commissioners.

Spurring the commission to delve into redevelopment is a loss in income generation that is beginning to present challenges for the Port in managing its portfolio of investments, explained Bob McChesney, executive director for the port.

“The port supports economic development,” McChesney, told the Enterprise. “This exploration just opens the door of discussion. It is a continuation of conversations the port is having with the Edmonds community. The process is open and we welcome public comment.”

“The discussion is about economic development and how that is central to the Port’s mission,” said McChesney. “Economic development is simply a fancy way to talk about the future and how we can calibrate the future.”

Harbor Square, currently a development of modest, low-slung buildings, holds great potential to deliver a healthy bottom line Pflum stated. The current high vacancy rate is the result of a market filled with more contemporary buildings.

Taking into consideration market conditions, land value, financial performance and tax revenue impacts, Berk & Associates suggested options for the future of Harbor Square.

The redevelopment opportunity holding the greatest economic promise rests with two scenarios, said Pflum. Both would assume a contract rezone, incorporating mixed-use with higher densities and heights that would exceed 35-feet. Even rezoning for a mixed-use project would not boost feasibility, given the city’s 35-foot height restriction, Pflum pointed out.

“Regardless of which option makes the most financial sense for the Port, the contract rezone will most likely need to incorporate an increase in height limit to make redevelopment feasible for both developers and the Port,” said Pflum.

While maintaining building heights under 35-feet has historically been a mantra with Edmonds citizens, this redevelopment could contribute to the city coffers with boosted tax revenue, said Pflum.

In all scenarios 2.6 acres would remain undeveloped as a wetlands area.

Other options included calling for the razing of current buildings, rebuilding to increase office and retail space by 25,000 square feet while conforming to current limitations. Given the cost of construction, the final value created is exceeded by construction costs.

Keeping within the existing 35 food height limits and including mixed use residential/ retail, was suggested along with layering on over-height limit three to five story mixed-use buildings.

Another alternative taps a mix of three to five story buildings with a land swap involving the existing Harbor Square tennis courts.