Economic forum touts Highline's potential
Tue, 04/01/2008
Proximity to downtown Seattle and Sea-Tac International Airport, affordable land, and cooperative municipal leaders.
Those were the key attributes of Southwest King County touted March 26 to developers and real estate investors at an economic forum in SeaTac.
The Seattle Southside Forum was sponsored by the cities of SeaTac, Tukwila, Des Moines and Burien, as well as the Port of Seattle and Highline Community College, to spotlight current projects and future development opportunities in the four Highline cities.
After the forum, two buses took developers and investors on a tour of 12 potential construction sites.
"You sit in a really great place that is under marketed," observed David Sabey, president of Sabey Corporation. Sabey, who grew up in Burien, has developed a number of Tukwila office buildings.
A panel of local businessmen discussed the strengths of doing business in Highline.
Michael Allan, a Des Moines, SeaTac and Burien real estate investor, said taxpayers' support for public education and access to Highline College and the Central Washington University program on Highline's campus add to the region's appeal.
Sabey said even as a boy, he realized Burien's closeness to downtown was an advantage.
"Time is short, adjacency is important." Sabey declared.
Noting Group Health moved some of its support services to one of his Tukwila buildings, he added, "There is affordable land and it is an easy commute for workers. Why not let people work where they live?"
Having an international airport in the area is also important in allowing clients from around the world to easily fly in and out, according to Sabey.
"We live in a global economy, we need to act like it," he said.
Mark Berg, Alaska Airlines director of airport affairs, noted Alaska has been headquartered in SeaTac since 1966.
"Maybe it is common sense to have an airline next to an airport but that is not the case everywhere," Berg said.
Being adjacent to the airport helps keep expenses down and "cost to us is key," according to Berg.
Todd Carden opened a second branch of his Elliott Bay Brewery in Burien a year ago.
He said land to build a brewery and bar was expensive elsewhere but he received a good deal in Burien, where there is a residential core and businesses nearby.
With State Routes 509 and 518 connecting to Burien, the brewery gets business from a wide area.
Also the proximity to the airport helps, Carden added.
"You can have a brew, have a friend call you on your cell phone from the airport, and pick him up in six minutes."
Rolan Becker, president of Becker Trucking, said his customer base is at the airport so being close "eliminates down time."
He added he is optimistic about attracting more small businesses to the area.
"If you build, it will come," Becker concluded.
Port of Seattle Commissioner Pat Davis said she is excited that the Highline cities and the port are friendlier after their lengthy battle over the third runway.
"The past is past, the arguments over, the lawsuits gone and we are working in a cooperative manner," Davis declared. "It feels like spring."
Burien Town Square developer Dan Rosenfeld, principal of Los Angeles-based Urban Partners LLC, delivered the keynote speech.
He related attempts to secure funding for the Town Square project from downtown Seattle investors. They turned him down, saying Burien is "too blue collar, old and tired."
But he went to New York City with a short presentation highlighting "Burien's golden keys" and received four proposals.
The golden keys are 13 minutes to downtown Seattle, three minutes to an international airport, waterfront residential neighborhoods, the best "village-scaled main street between Seattle and Tacoma, and a cooperative city government.
Rosenfeld also presented "psycho-demographic" data on Burien's "Gold Coast" waterfront residents. Contrasting them with Eastside waterfront residents, Rosenfeld said they have high savings rates and low mortgages as well being "hardworking, humble and financially conservative."
He also outlined "22 things Burien did right" in developing its town square. They centered on involving the public, strong planning and hiring of expert advisors.
Praising Burien municipal leaders, Rosenfeld noted, "Most important was demonstrating unflinching courage."
According to Rosenfeld, the city leaders and developers work well together.
"Our first name is not 'Greedy' and their name is not 'Bureaucratic,'" he quipped.
"Little Burien did a remarkable job of picking others' pockets," Rosenfeld also joked about the $85 million Burien received from other public agencies.
Waiving additional state environmental protection compliance processes also saved $2 million, he said.
And offering a 10-year property tax abatement to new Town Square homeowners contributed to a "phenomenal start" in selling condominiums, he said.
However, sales have slowed down since the quick start, Rosenfeld noted.
With light rail coming to the airport area and growth restricted west, north and east, "south is clearly where growth will be," he concluded.