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Slow real estate market makes for underwhelming show of buyer interest for city

September 13th, 2010 at Mon, 13th, 2010 at 6:21 am by Jennifer Morris

The City of Poulsbo is trying to off-load some property to help pay for its new city hall, but a slow real estate market is making for few interested buyers.

But all they need is one.

Broker Mark Danielsen, with Windermere Commercial, sent a status report to Poulsbo Mayor Becky Erickson and the Poulsbo City Council detailing the progress of its for-sale and for-lease properties on Sept. 7.

There is “at least one interested prospect in each of the properties listed,” he wrote.

Here’s what he reported:

  • There have been two showings of the city’s current city hall site on Jensen Way, one to a local non-profit that determined it was too large a project, and one to a developer who remains interested. It is listed for $1.25 million.
  • A local party has twice viewed the undeveloped Klingle Property on Second Avenue. They hope to preserve the space and would likely build only a house or two there if the price is right.
  • A small church is interested in leasing space in the Parks & Recreation building, and a remodel may be done to accommodate them. Previously a group of musicians wanted to teach music there, but the volume of noise produced “was not appropriate,” Danielsen said. The lease rate is listed at $1,735 per month.

See the full report below.  JM

Real Estate

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