Tarragon representatives had planned to meet with the city’s Community Planning and Development Department on Feb. 10 to discuss a proposal for a five-story hotel. After learning the information had been posted on the city’s Web site, they decided to postpone the meeting, said Kristin Jensen, senior development manager and a partner at Tarragon.
“There are still a lot of things that need to be figured out,” she said. “We have postponed the meeting for now because it’s really early in the project and conceptual at this point.”
The city’s planning department typically schedules on Wednesdays what it calls “presubmission” conferences, or meetings that give developers a chance to learn more about city codes and building requirements before they submit formal land-use documents.
Community Planning and Development director Keith Stahley could not be reached Wednesday, but planning-permit specialist Paula Smith confirmed that the meeting had been postponed. A new date has not been set, she said.
Tarragon representatives were set to discuss a 63-foot, five-story, 232,000-square-foot hotel with underground parking on the East Bay site at 510 State Ave. N.E., according to the presubmission documents. The proposed hotel likely would occupy a 2.5-acre parcel on the site, Jensen said.
A hotel is just one idea for the 6.8 acres that Tarragon plans to develop for the port, she said. Other ideas for the site include office space, a multifamily development and potentially a “higher-education” use, Jensen said.
“We’re trying to consider a good mix and consider things that might have a good opportunity sooner rather that later,” she said.
Jensen added that market studies have shown that Olympia would support additional hotel rooms in the area, based on a combination of business, government and leisure travel.
East Bay also offers quick access to the freeway, is in the heart of downtown and offers views of the Capitol Dome and the bay, she said.
Tarragon was selected as the port’s preferred developer for a portion of the East Bay site in June after beating out other developers that also had submitted proposals, Jensen said. Tarragon expects to sign a development agreement with the port next month, she said.
As for when a hotel or some other development might emerge on East Bay, that likely is a few years away and will depend on market conditions at that time, including the state of the economy and the lending environment, Jensen said.
Rolf Boone: 360-754-5403
rboone@theolympian.com
