Former Happy Dragon Location on 6th Ave. Sold
The former Happy Dragon restaurant location on 6th Ave. & Alder Street recently sold for $1,100,000. The two parcels measuring 19,981 square feet are part of the 6th Ave. mixed-use center and are zoned NCX. The new owners are a group that includes architect Ross Deckman of Ross Deckman & Associates and a number of individuals who work at AHBL, a Tacoma based civil/structural engineer, landscape arcitecture, and community planning firm. While no plans are concrete they do plan to look at their options for future development of the site. In the meantime they may try to lease the space to another restaurant as all of the restaurant equipment is still in the building.
(image from Google Maps)
From the looks of the purchase price it appears the property was bought for it’s “land value”. I think the prospect of a future development are pretty good considering the land value purchase and the owner’s portfolios. What would you like to see built at this location? Mixed-use with apartments/condos? Office space with retail similar to Poole’s Corner down the street at Union Ave.? My vote? Mixed-use with apartments and retail. The 6th Ave. area hasn’t seen much in the way of new residential structures in the past few years. With UPS a few blocks away and the popular 6th Ave. corridor right there, I think it would be a great spot for that kind of development.
Nice!
Everything about this purchase sounds like this corner is going to have a bright future. It sounds to me like the property was snagged while prices are cheap (1.1M sounds like a steal to me) and will probably be developed once the market stabilizes again.
With ties to AHBL, that also means any development will be under design-conscious ownership with locally-oriented interests.