Everett Elks Lose Building, Skotdal Expands Library Place to 209 Units in Downtown Everett

March 18, 2012

Downtown Everett

Workers update landscaping in front of the Everett Elks building. (photo provided by Skotdal Real Estate)

In an interesting turn of events, Skotdal Real Estate has assumed ownership of the new Elks Lodge building at 2802 Hoyt Avenue after the Everett Elks Club defaulted on the building. Back in 2007, the Everett Elks sold their long-time lodge at the corner of Rucker and California Avenue in downtown Everett to the Skotdal family and used that money to build the new building on Hoyt. The Skotdals then launched an ambitious urban housing project called Library Place at the former Elks club location. When the Elks built their new building with the proceeds from the original sale they included 9 condos above the club that they hoped to sell to generate future revenue. Unfortunately by the time the condos were ready for sale, the condo market tanked and the units went unsold. Then the city of Everett began remodeling the streets in front of the club and Elks club members reported to the Everett city council that members had trouble getting access. The club claimed that led to decreased revenue as fewer of the elderly members were able to navigate the streets around the new location. Meanwhile, Skotdal Real Estate began the first two phases of their Library Place project. That caused additional congestion on the streets around the club. The Elks finally stopped making payments on the building and Skotdal Real Estate purchased the building from a court appointed receiver. Craig Skotdal, President of Skotdal Real Estate said in a press release on Friday that his family plans to finish the condos on the upper floors above the Elks Club and rent them out as an extension of their Library Place project.

“The Elks have done great things for the Everett community and we’d like to find a way to keep them in the building,” said Skotdal.

After fully leasing the 22 units in phase one of their Library Place Project, Skotdal Real Estate recently started leasing another 178 units in phase two. The addition of the 9 units above the Elks Club will make 209 new apartments the Skotdals have put into the downtown Everett corridor over the last four years.

Editors Note: I work for a business (SR Broadcasting Co. Inc.), owned by Andrew and Craig Skotdal.

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