Housing group gets $250,000 from cityBy Christine PrattWorld staff writerPosted May 14, 2008
"WENATCHEE - The city will contribute $250,000 Thursday to a grassroots organization formed last year to create affordable housing for low-income families.
Wenatchee Mayor Dennis Johnson said that he'll deliver the check tomorrow to the group PATH - Preserving Affordability Trust for Housing.
"This really has a good basis conceptually," Johnson said of PATH. "It takes a long time for a group to start generating adequate funding. We felt this would give them good start."
PATH will use the money to help low-income buyers afford their first homes by separating the cost of the house from the land underneath it, said Marty Stierlen, spokeswoman for the Columbia Valley Housing Association, which has partnered with PATH.
The buyer must qualify for a bank loan to finance the house only. PATH will use the donated funds to buy the land. Savings to the buyer could be as much as $40,000 to $50,000, Stierlen said."
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Developer selling off trailer park propertyKamkon bought land for $2.2 million in 2006, now asking for $12 millionBy Travis HayWorld staff writerPosted May 15, 2008
WENATCHEE - The owner of the Ninth Street Trailer Park, land that's a key part of Wenatchee's riverfront makeover, appears to be selling the property.The land was set to be developed into condominiums as part of the city's riverfront development plan. Wenatchee Mayor Dennis Johnson said he found out Monday that the property was up for sale for $12 million.
"I was definitely taken by surprise when I found out," Johnson said Wednesday afternoon. "It was my belief all along that the area was ready for development ... I expected with the market being the way it is that it might be developed in phases now instead of all at once, but I didn't expect the project to be stopped altogether."
Kamkon Development bought the 12.5 acres for roughly $2.2 million in 2006, according to Chelan County Assessor's Office records. The sale of the land is being handled by Century Pacific, a Seattle-based company, according to Century Pacific's Web site. The Web site states the asking price for the land is $12 million."
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