Chelan PUD Receives Designer Recommendation for Former Headquarters on 5th Street
Multiple Wenatchee government agencies submitted a recommendation for the Chelan PUD Board of Commissioners to select GTS Development to develop the PUD’s former headquarters on Fifth Street.
Chelan PUD is moving from their current headquarters on Fifth Street, which is currently a 332,900 sq. ft. building, to their new Service Center in the Olds Station area.
Chelan PUD employees should be working in their new headquarters by 2023.
Back in August, the board whittled their choices down to two developers, GTS Development/ Avara/ Graham Baba/ Greenworks (GTS Development) and Steinhauer Properties.
Both proposals included relocating the YMCA to the site and relieving traffic congestion on Wenatchee Ave. and 5th St. to Columbia Street.
Steinhauer Properties withdrew themselves from the running and did not submit a refined proposal.
The Wenatchee Downtown Association, Wenatchee Valley Chamber of Commerce, Chelan Douglas Regional Port Authority and the City of Wenatchee wrote a joint letter recommending GTS Development to be the master developers for this redevelopment project.
Chelan-Douglas Port Authority, the City of Wenatchee, and Chelan PUD partnered together to redevelop the headquarters on Fifth Street, along with sharing the cost of the project.
The Interlocal Agreement between these entities and Chelan PUD required that a recommendation be made to the PUD.
The City of Wenatchee also created a tax increment financing district (TIF) for this project, which would funnel funds from the headquarters’ increased property value to areas surrounding it, which could lead to street improvements as well.
In GTS Development’s proposal, they state that the entire redevelopment project may cost up to $100 million, with their design plan spread out between 8-10 buildings.
The land itself costs roughly $6 million. Funding for this project is expected to come from public funding.
GTS Development wrote that they will start their project as soon as the sale closes.
Commissioners will deliberate on this topic during their public session presentation on Nov. 21.
To learn more about GTS Development’s proposal, visit this link.