News
West of Puget Getting Some Love
January 26, 2012
| Living and working on the Western side of Puget Sound, you can stare at acres of trees instead of a forest of cars on your way home, says Olympic Property Group president Jon Rose. OPG, a subsidiary of timber giant Pope Resouces, has two big projects in the pipeline there. |
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| In Gig Harbor, look for a 16-acre village center, adding to its 330-acre infill project Harbor Hill. Also approved are plans for 824 residential units a total cost of up to $250M; that includes 170 apartments at about $30M. Also on the horizon, OPG has 7,000 acres of forest between Kingston and Port Gamble that it would like to dispose of. He tells us 70,000 residents are spread out nearby. (Many are retirees fleeing the I-5 corridor for the Kitsap Peninsula—to be surrounded by nature but still keep their Seattle friends.) For the past few years, Jon has been encouraging local groups, including the native S'Klallam tribe, to raise money to buy the land or timber rights. The community is enthusiastic: the first meeting, which drew more than 500 people, "was like Woodstock," he says. Pope has optioned purchase of the land to Forterra (formerly the Cascade Land Conservancy) until March 2013. |
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| When he's not practicing piano or harmonica, Jon may be finding reasons to visit Port Gamble, the postage stamp-sized town two minutes from the Hood Canal Bridge. Port Gamble is a National Historic Landmark and one of America's last factory-owned towns, managed by OPG for parent company Pope Resources. Factory-less since the old sawmill departed in 1995, the area is ripe for development. This year, OPG will roll out its master plan for Port Gamble, which includes a bayfront hotel, restaurants, retail, and New England-style homes. Project estimate: more than $100M. But we had to know: is there separation anxiety from the mainland if Seattle is a 30 minute ferry ride away? Not really. You can go to the Paramount, get a steak at the Metropolitan Grill, get back on the boat, and float home, Rose says. |
