AT THE CORE OF IT ALL

City of Kenmore

THE SITUATION

 

The City of Kenmore, like many towns developed in western Washington in the 1950s, was seeking ways to create a central focus for their downtown core. The city had worked for over a year to create a downtown plan, but there was extreme division between a citizen advisory task force and the recently elected city council over the Kenmore Village by the Lake redevelopment project.

 

WHAT WE DID

 

The city retained key Trinity team members just prior to completing acquisition of property defining the new central core, a substantially vacant neighborhood shopping center. The Trinity team members identified the immediate need for a property manager, oversaw the selection process, and implemented a leasing strategy that helped the City Council understand the strategic timing of redevelopment and recognize an opportunity for an interim income stream. The team also mediated the development of a “charter document” between the new City Council and the citizen advisory task force.

 

THE OUTCOME

 

The City of Kenmore was more than pleased when the existing shopping center was leased in a record time of four months, providing the city with $250,000 in annual income. Trust was built back up between the citizen advisory task force and the City Council, and with a smooth selection process in place, the city chose a property management firm and developer. We continued to work with the City of Kenmore to assist in the selection and negotiation of a new City Hall location, further enhancing their dreams for a destination downtown.

 

SERVICES WE PROVIDED:

 

  • Real estate & facilities strategy
  • Portfolio and organizational strategy
  • Real estate asset evaluation and consulting
  • Feasibility studies & analysis
  • Strategic needs analysis