Whole Foods woes: Fauntleroy Place developer not worried

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Two weeks into serious work at the Fauntleroy Place site (current status: big dirt piles, as seen above), we checked as promised with developers BlueStar this morning to ask if the Whole Foods trouble has led to any concern for them about the grocery chain’s participation in the project (mentioned here last night). BlueStar’s Eric Radovich says no — “We have a lease that’s signed and recorded” — 25 years — and adds that they’ve been working closely with Whole Foods in recent weeks to finalize the design, looking ahead to next week’s Design Review Board meeting (8 pm 8/14, High Point Community Center). He adds that Whole Foods is considering the design for this store to be something of a template for their next generation of stores.

2 Replies to "Whole Foods woes: Fauntleroy Place developer not worried"

  • old timer August 7, 2008 (12:56 pm)

    With Whole Foods profits down 30%, and the dividend being cut to zero, and new stores being put on hold as the company navigates it’s way forward in the “Worst environment in it’s 30 years” (WF prez says), we can only hope that a signed lease will give sufficient protection to this very high impact project.

  • West Seattle Golfer August 7, 2008 (4:31 pm)

    A signed lease can be negotiated away as easily as it was agreed to. Blue Star may feel confident but their underwriter may not…let’s hope this project proceeds without further haste.

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