Ryan sells a portion of Poulsbo Village
June 10, 2008 · Updated 7:47 PM
POULSBO There will be a big change taking place to the popular shopping district just off State Route 305 but no one is expected to notice a single difference.
Poulsbo Village Shopping Center owner Tim Ryan announced Monday that he is selling a portion of the retail venture to Western Williams of the Seattle-based Laurel Hurst Apartment Company. Tim Ryan Enterprises, which was created as a tool to manage the shopping center, will be dissolved.
The properties being sold are primarily retail in nature and include: the western strip of stores that houses Albertsons, the strip of stores that includes Coast Do It Best Hardware; the EDS building; Mitzels; and the building west of Mitzels.
We felt it was a great time to simplify our lives and dissolve the partnership, Ryan said.
Ryan said he and his business partner have been looking for a buyer for the past year and a half who would do a good job.
Ryan purchased the approximately 40 acres, which included a golf course on the property at the time, in the mid-1970s with intentions of building a commercial development. On July 11, 1984, he opened the Poulsbo Village Shopping Center with shops on the western side of the property. Several of the original tenants are still there today, including Albertsons, Sports Haus, Gallery of Hair Design and McBrides Hallmark.
I tried to make it as hometown as possible and I think thats what made it successful, he said.
Ryan still owns the Doctors Clinic medical center on the corner of Iverson and 7th Avenue; the Land Title Company buildings and the property south of it on NE 8th Avenue; and the building occupied by DME Auto Service and the state liquor store.
He said there is potential to develop the area on the ridge above the Poulsbo Athletic Club into 80 multi-family units, as well the vacant land just south of the Land Company Title building.
Im going to be very much involved in the area still, Ryan said.
The current property manager for the shopping center, Beverly Lyon, will continue in the same capacity for Poulsbo Village under Laurel Hurst. She has been managing the properties for 16 years.
Lyon said the developer doesnt plan on making any changes but is excited to be involved with the property.