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January 24, 2013 at 7:00 AM

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The Housing Authority partners with Vulcan to redo Yesler Terrace

Selling downtown property is shortsighted

Once again the city of Seattle shows its fiscal shortsightedness. To fund the redevelopment of Yesler Terrace public housing project, “it plans to sell some of the 30 acres to a private developer” [“Vulcan to redo Yesler Terrace,” NWWednesday, Jan. 23].

The Housing Authority is giving up valuable downtown view property that will only increase in future value.

It should take a page from the University of Washington’s playbook. The UW has held steadfast to all of its valuable downtown real estate some 100 years-plus after moving its campus. And yet, you don’t hear anyone suggesting it cash it out to finance its new football stadium.

This project could be paid for with 30-year bonds and rent income from the proposed retail, offices and condos.

--Tom Wasserman, Seattle

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I agree that selling off half the property is short sided and stupid. They should be... MORE
I agree that selling off half the property is absolutely short-sighted and stupid. ... MORE
More victimization of the poor - people who do not have wherewithall to fight back. ... MORE

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