Developers are interested in building a mixed-use project that could feature retail shops, public open spaces, a hotel, apartments and possibly condos if the city of Kent decides to sell its par 3 course at the Riverbend Golf Complex.<\/p>\n<\/p>\n
Colin Lund, chief entitlement officer of Kirkland-based developer Yarrow Bay, and David Hills, executive vice president of Freiheit and Ho architects in Kirkland, were invited by city staff to address the Kent City Council’s Parks and Human Services Committee on Nov. 21. The committee raised questions two months ago about whether there is interest in the development of the property.<\/p>\n<\/p>\n
“That’s easy, the answer is yes,” Lund said at the meeting. “We’ve done quite a bit of market analysis and data research so we have good appreciation of what this market is willing to absorb at this time and the type of projects.”<\/p>\n<\/p>\n
City officials are trying to find a way to resolve the financially struggling Riverbend Golf Complex, which also includes an 18-hole course, driving range and pro shop.<\/p>\n<\/p>\n
Proceeds from a par 3 course sale could cover Riverbend’s $2.3 million debt, its capital investment needs of about $400,000 per year and its annual operating losses, said Tom Brubaker, city interim chief administrative officer.<\/p>\n<\/p>\n
“It’s really potentially the gateway to the western end of town through Meeker Street,” Hills said. “It has so many outstanding amenities such as the river, the river trail, recreational facilities and it has the potential to increase the pedestrian access to all of these points. It’s uniquely located in the river bend.<\/p>\n<\/p>\n
“It introduces a lot of opportunities for a variety of uses whether it’d be retail uses directly along Meeker Street, mixed-used residential use internally, professional service offices and even hotel properties.”<\/p>\n<\/p>\n
Deborah Ranniger, chairwoman of the parks committee, said the next step is to refer the par 3 sale and potential development issue to the full council at a workshop. Brubaker said that discussion of selling the par 3 course would be on the council agenda in January or February.<\/p>\n<\/p>\n
“It’s very intriguing and certainly worth exploring further,” Ranniger said. “We need to get the entire council engaged.”<\/p>\n<\/p>\n
Riverbend’s operating losses and debt caused city officials to look at ways to get the complex self-sustainable financially. The facility has lost nearly $1.4 million over the last four years, including $220,903 in 2012, according to city documents. The debt is owed to an inter-fund loan, money that the city borrowed from its water and fleet funds to help pay off the bond for the golf complex.<\/p>\n<\/p>\n
Parks Director Jeff Watling said if the council decides to sell the par 3 course, city staff has looked at making a par 3 course part of the 18-hole course by placing a set of tees at holes way forward in the fairway to create a shorter golf experience for youth or active seniors. He also discussed a piece of city property east of the driving range that could be used for three par 3 holes.<\/p>\n<\/p>\n
The par 3 course has brought in just 10 percent of the complex’s revenue over the last five years, Watling said. The 18-hole course represents 48 percent of the revenue while the driving range\/pro shop brings in 42 percent of the revenue.<\/p>\n<\/p>\n
Lund said the Riverbend property has potential for similar uses to what’s been done at Juanita Village in Kirkland. The mixed-use development serves as a gateway to the city with apartments, retail, restaurants and wine bars.<\/p>\n<\/p>\n
Councilwoman Elizabeth Albertson said she likes the idea of a new destination development. Her four-year term expires the end of the year so she won’t have a vote on whether to sell the par 3.<\/p>\n<\/p>\n
“I’ll be gone next time you talk about this but my wish would be to not sell this because once you sell open space you cannot get it back,” said Albertson who has served eight years on council. “However, if the only way to prop up the other half of our golf course is by developing this one side I hope everyone ensures public access to whatever goes in there because that river and the Mount Rainier views are valuable. I’m even intrigued about the hotel part because we don’t have any strong hotels that have access to ShoWare Center and other recreational opportunities.”<\/p>\n<\/p>\n
Brubaker said if the council decides to sell the par 3, the city would need to partner with a developer similar to what the city did at Kent Station or with the under construction The Platform Apartments in order to help control what’s built on the property.<\/p>\n<\/p>\n
Ben Wolters, city economic and community development director, told the committee that the council would need to change zoning codes to allow a new development. The property is designated as open space. He estimated it would take six to eight months to get all of the city requirements done before seeking a developer that might want to take on the project.<\/p>\n<\/p>\n
“It is a unique opportunity and you should look at it as that and don’t take that lightly,” Lund said to the committee. “The decision whether to keep it or not don’t take that lightly either. But I can tell you if you do have an interest in pursuing (the sale) us and others would be interested in having serious conversations with the city about what can be done.”<\/p>\n<\/p>\n