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City of Seattle
Gregory J. Nickels, Mayor
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NEWS ADVISORY
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| SUBJECT: Seattle Parks Foundation Receives Record $10 Million Contribution from Vulcan for South Lake Union Park
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FOR IMMEDIATE RELEASE:
3/17/2005 10:30:00 AM |
FOR MORE INFORMATION CONTACT:
Karen Daubert, (206) 332-9900 ext. 11,
Seattle Parks Foundation,
Michael Nank,(206) 342-2000,
Vulcan, Inc.
Alex Fryer (206) 684-8358
Office of the Mayor (206) 684-4000
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Seattle Parks Foundation Receives Record $10 Million
Contribution from Vulcan for South Lake Union Park
Announcement Sets Stage for Fundraising Campaign
SEATTLE – March 17, 2005 – Mayor Greg Nickels and the Seattle Parks Foundation today announced a $10 million contribution from Vulcan Inc. to help build the new South Lake Union Park. It is the largest private contribution to a public park in Seattle’s history.
The contribution gives an unprecedented boost to a fundraising campaign the foundation plans to launch in June to build the waterfront park. The foundation is a nonprofit group dedicated to improving and expanding Seattle’s parks and open spaces.
“People have talked about building a park here since the Olmsted brothers stood on this spot and recognized its potential more than a century ago,” said Nickels, who announced the contribution at a news conference at the park site. “Now is the time to turn that vision into a reality. With the generous help of Vulcan and the hard work of the Seattle Parks Foundation, we are going to create a magnificent park that will be treasured for generations to come.”
Vulcan’s contribution represents half the private funding necessary to complete the park.
“The people of Seattle, especially our children, will benefit from this very generous contribution,” said Carol Lewis, Seattle Parks Foundation’s board president. “This lead contribution from Vulcan will create the momentum needed for the Seattle Parks Foundation to raise the remaining $10 million from private donors to complete this incredible park.”
Vulcan’s contribution to the park will be delivered in two parts over five years:
$5 million immediately to help the foundation fund phase one of the park’s construction and $5 million as a challenge grant after the foundation has raised the remaining
$10 million and plans to improve pedestrian access to the park are underway.
The 12-acre South Lake Union Park will provide a stunning waterfront gathering place for the region and a venue for special events such as this year’s summer concert series. Visitors will be able to experience the area’s natural history and explore its rich maritime heritage.
City Council President Jan Drago said, “This highlights Paul Allen’s commitment to our city’s quality of life and to creating a vibrant South Lake Union neighborhood that benefits all citizens of the region. We encourage others to follow Vulcan’s lead in supporting our public parks.”
South Lake Union Park is designed to accommodate large public celebrations, improve access to the shoreline and restore portions of the area’s natural habitat. It will feature stunning open space, a bridge and waterfront boardwalk, a boat launching beach and a model boat pond.
The plan also includes a focus on local history, including maritime heritage, where visitors can experience a slice of Seattle’s nautical past, and the eventual renovation of the Armory Building, which will offer a dramatic space for large events.
Dick Wagner, founding director of the Center for Wooden Boats, which is located at the park, said, “Seattle is a seafaring city. Boats and the myths, songs and the cast of characters involved are prime elements of Seattle’s story. This new park will weave our seafaring heritage into our community tapestry.”
“We’re honored to partner with Seattle Parks Foundation to help build this wonderful waterfront park for the people of Seattle,” said Ada M. Healey, vice president of real estate for Vulcan.
Karen Daubert, executive director of Seattle Parks Foundation, said, “It’s not lost on us that this contribution is being announced on St. Patrick’s Day. We feel good fortune is shining on us with Vulcan’s contribution, and a glorious rainbow leads to South Lake Union Park for all to enjoy. The broad cross section of the community who worked with us throughout the design process celebrates this contribution to create a unique park that maximizes the potential of an incredible waterfront site.”
At the news conference, South Lake Union neighborhood leaders were joined by dozens of children from local schools and other park enthusiasts to celebrate this park milestone.
Briel Schmitz, director of Spruce Street School , said, “Parks are for kids of all ages. South Lake Union Park will enrich children’s lives, expose them to our maritime heritage and provide many opportunities for fun with their families and friends. On behalf of Seattle's children, we applaud this community partnership with Vulcan to create a world-class South Lake Union Park.”
Bruce Gryniewski, executive director of Washington Conservation Voters, said, “This impressive park in the heart of the city will be a vital asset for Seattle and our environment. With its generous open space and key public transportation links, South Lake Union Park will add to the quality of our lives and further support a vibrant urban neighborhood.”
The contribution also highlights positive changes in South Lake Union, Seattle’s fastest-growing neighborhood.
Steve Engstrom, co-owner of Athletic Supply, said, “South Lake Union Park will be a tremendous economic draw for small businesses in the neighborhood. We’re excited that thousands of people will experience the park this summer for the summer concert series. We want people to know exciting things are happening at South Lake Union. It’s a great place to live, work and shop.”
Specifically, Vulcan’s $10 million contribution, made through its affiliate City Investors Inc., to the Seattle Parks Foundation will be delivered in two parts over five years. Vulcan will provide $5 million immediately to help the foundation fund phase one of the park’s construction, which is slated to start in November. This fulfills the commitment Vulcan made to the city to fund a major cultural facility in the area as part of its purchase of city-owned land along Mercer Street .
The second $5 million, in the form of a challenge grant, will come after the foundation has raised the remaining $10 million in private funding for the park and the city is ready to move forward on traffic-safety improvements on Valley Street to make the park more accessible to visitors.
Because the proposed changes to Valley Street may affect the boundaries of some properties, Vulcan, in connection with its first $5 million, has asked the city for additional time to develop plans for the properties it purchased from the city. If the city ever adopts impact fees for parks and open spaces in South Lake Union, Vulcan may be entitled to a credit for some of its second $5 million because it creates open space.
Development of the park is among the top priorities of the South Lake Union neighborhood plan. The park is also a centerpiece of the mayor’s South Lake Union agenda, which is helping transform this once neglected corner of Seattle into a magnet for new jobs and housing that will benefit the entire city.
A park at the south end of Lake Union was originally conceived by the Olmsted brothers in their 1903 plan for Seattle's park system. More than 100 years later and through a series of land acquisitions by the City of Seattle and Vulcan’s lead contribution, South Lake Union Park is poised to become a reality through the efforts of citizen-led Seattle Parks Foundation.
South Lake Union Park is the foundation’s largest undertaking, having successfully completed several smaller park projects, including Homer Harris Park in Seattle’s Central Area.
Following extensive public participation, the Seattle Parks Board approved the South Lake Union park design last year. The plan was developed by Seattle’s Mithun Architects and Hargreaves Associates, a San Francisco firm that helped design the William J. Clinton Presidential Library and Museum in Little Rock, Ark.
About Seattle Parks Foundation
Seattle Parks Foundation is a private, nonprofit organization dedicated to improving and expanding Seattle's parks and green spaces. The foundation was founded by civic and business leaders in 2001 to bridge the gap between public resources and the needs of a vibrant park system. In just four years, private and public donations have enabled Seattle Parks Foundation and its community partners to renovate seven parks, build two new parks and act as fiscal sponsor for five park improvement projects. Led by its volunteer board of directors, Seattle Parks Foundation is launching a fundraising campaign in June to develop South Lake Union Park into a premier waterfront park. Recognizing the need to preserve green space in Seattle's urban core, the foundation selected this park for its shoreline location at the heart of the city’s most rapidly developing neighborhood, its ready partners, and the opportunity to positively impact the livability of this changing city. Please visit www.seattleparksfoundation.org.
About Vulcan Inc.
Vulcan Inc. creates and advances a variety of world-class endeavors and high-impact initiatives that change and improve the way people live, learn, do business and experience the world. Founded in 1986 by investor and philanthropist Paul G. Allen, and under the direction of president and CEO Jody Patton, Vulcan oversees various business and charitable projects including real estate holdings, investments in more than 40 companies, from Charter Communications, DreamWorks SKG and Digeo Broadband to Sporting News, the Seattle Seahawks NFL and Portland Trail Blazers NBA franchises, First & Goal Inc., Vulcan Productions, the Seattle Cinerama theatre, Experience Music Project, Science Fiction Museum and Hall of Fame and the Paul G. Allen Foundations. For more information about Vulcan, please visit www.vulcan.com.
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