Wood Village considers selling city hall
With only one square mile of land, valuable Wood Village property is in short supply. The City Hall, located at the corner of Northeast 238th Drive and Northeast Halsey Street, is prime property. So the City Council has started the process to sell the municipal building, in favor of a larger development that can provide economic stimulation and create more jobs.
The highest available traffic volume, the most valuable property in the entire community is consumed with our municipal building, said City Manager Bill Peterson. That seems illogical in the long term. So wed like to go to the marketplace.
Typically, the process would begin with an appraisal, but rather than spend several thousand dollars learning what the building may be worth, the council decided to solicit a real estate broker to test the waters.
And then just go into the marketplace and see whether or not there are available purchasers that could turn this property into a significant, positive development for the community, Peterson said.
This idea isnt new to the city. Before the city hall was renovated in 2009, the city had looked at dividing the 5.7 acres to allow for more development.
The city took a serious look at trying to market a portion of the property and constructing a new municipal building, he said. Economically, it just didnt work at that point.
And so the renovations took place. The building was updated and the idea was postponed.
Two years ago, a plan called the Heart of Wood Village was developed, attempting
to find a vision for the small city.
How does a suburban community like ours, that has no definable downtown, how does it develop that thriving, special place where people call the heart of the town, and what will it look like? Peterson said.
The council will discuss its request for a real estate brokerage at its July 30 meeting, which is the first of many steps.
This will take years, Peterson said.