You know about the hotels up on Tukwila International Boulevard (TIB), right? The city is buying the Great Bear Motor Inn, the Boulevard Motel and Travelers Choice Motel. They are closed and boarded up. It will take a while to complete the deals. The approximate total cost will be $3.6 million not including transaction costs. The money will likely come from the facilities fund and bonding (borrowing).
The buildings will probably be taken down. This will reduce the value of the properties. When it is time to sell the properties, it will be tempting to sell to the highest bidder regardless of what they want to build. More fast food anyone? The city should not do this. Instead, a developer should be selected who will build to the vision of Tukwila and improve TIB.
Tukwila Village will be well on its way to completion. Hopefully this will make the motel properties more attractive and a better value to developers.
As time goes by, Tukwila will be looking to buy other properties on TIB within the urban renewal area. This will have to be balanced with some major upcoming transportation projects that may require some significant dollars.