City of Snoqualmie wants cash for downtown buildings
September 22, 2010 · 10:40 AM
The city of Snoqualmie is trading surplus downtown buildings for cold, hard cash.
The former city hall, planning building, former library and the vacant King Street lot are up for sale. The city will take offers through November, and wants, at minimum, the value of the building in cash.
While the economy may challenge fast sales, Snoqualmie Economic Consultant Bob Cole said he is pleasantly surprised at the interest already shown on some properties. While no one has made an offer, Cole said 20 entities have inquired about properties.
"The big challenge is when we get to Nov. 30," Cole said. "We would be hard pressed to sell for less than the appraised value."
The Bellevue firm of Allen Bracket Shedd appraised the buildings. The former city administration building, adjacent to Snoqualmie Market, is valued at $520,000. The former city planning building, located at the corner of River Street and Falls Avenue, is valued at $425,000. The old library, next to the new City Hall on River Street, is $250,000.
The King Street lot, at the corner of Railroad Avenue and King Street, will be offered through a development competition aimed at attracting a retail business or business mix.
Proceeds from the sale pay for the new City Hall, which opened last December.