Woodinville staple Molbak's says its been pushed out of major development project
The Molbak's Garden and Home store says it's been pushed out of a massive redevelopment project that's been in the works in Woodinville for about 15 years.
The Woodinville staple and beloved east side business of 67 years was supposed to be the centerpiece of The Gardens District. A statement from Molbak's described the project as a “city in a garden,” which was supposed to include housing, retail, restaurants, and a brand new Molbak's garden center.
However, according to Molbak's, the developer, Green Partners, recently informed the store that it is no longer part of the project and the agreement to include Molbak’s is now cancelled.
“We’re shocked and devastated that Green Partners is cutting us out of The Gardens District,” said Julie Kouhia, CEO of Molbak’s. “We’re still reeling from this news and considering a range of options as we work to better understand this sudden change.”
No explanation was given, according to Molbak's.
Green Partners is associated with Cascade Asset Management Company, which manages the assets of the Bill & Melinda Gates Foundation trust and the Gates family.
In a statement provided to KUOW, a Cascade spokesperson said the company was "surprised" by Molbak's announcement "given that we have no plans to remove Molbak’s Garden + Home from its current location." According to the statement, Molbak's still has "years remaining on its lease."
"While Cascade is no longer planning to develop the Gardens District, we had been negotiating with Mr. Molbak toward the inclusion of his family’s business as a key feature of a possible future Gardens District," the statement reads. "However, Mr. Molbak upended the discussions even in the face of Cascade’s offer of concessions, including free rent. We expect that the Gardens District will serve the needs of Woodinville, regardless of what Molbak’s decides is in its interest."
As of June, though, the project seemed to be heading down right path — at least from Molbak's perspective.
According to Molbak's statement, a Green Partners spokesperson was at a Woodinville City Council meeting on June 20 and expressed the company's "pride" in the project: “It is a pretty rare circumstance we find ourselves in, with such a storied business and a beloved business like Molbak’s. We take great pride in what we have been able to put together with them and to create a project that integrates it for the next 65 years.”
The statement from Molbak's also included comments from Woodinville Mayor Mike Millman, who spoke in favor of keeping the store involved in The Gardens District.
“Woodinville has been working hard to create a vibrant and walkable downtown ... all while preserving and enhancing iconic Woodinville businesses like Molbak’s,” Millman said. “This Molbak’s-centric vision is why we are excited about this project and is why your Council approved the project in a 5-2 vote this past summer and this is still what the majority wants built now.”
Update notice, Wednesday, 11/29/23 at 12:57 p.m.: This story has been updated to include a statement from Cascade Asset Management Company.
