Hotel closer to becoming apartments, housing pitched in Lacey, donut biz expands to market
The Olympia Hotel at Capitol Lake, perhaps best known as a former Red Lion property on the city’s west side, is a step closer to becoming apartments.
That’s according to the Olympia Hearings Examiner who recommended earlier this month that the city council approve an amendment that would allow housing in an area of the city known as the Evergreen Park Planned Unit Development. The amendment has been sought by Portland-area architect Philip Stewart, who is working on behalf of the hotel owner.
The recommendation will come before Olympia City Council after a 21-day appeal period has expired or after appeals are heard, according to the city.
The Evergreen Park PUD was established in 1973 and includes the Thurston County Courthouse complex, as well as other legal, medical and government uses, plus the hotel.
However, there is residential development near the PUD.
“The net result is that the PUD provides for a broad array of public, commercial and residential uses, but does not allow a mixing of these uses within the same areas of the PUD, and there is no portion of the PUD where commercial and residential uses are jointly allowed,” the hearings examiner ruling reads.
Other business happenings
The Kawaii Donut House, which to date has operated as a pop-up business, is expanding to the Olympia Farmers Market, the Thurston Economic Development Council announced in its newsletter.
Owner Tiffany Lin moved to the U.S. from Taiwan in 2000 and has turned her dream of opening a dessert shop into reality, EDC officials write.
Lin is a longtime user of EDC resources. Lin took advantage of the Target Zone Small Business Startup Grants, which were made available through the U.S. Department of Treasury under the American Rescue Plan Act and funded through Thurston County, according to the EDC.
The Bread Peddler, a well-known French bakery in downtown Olympia, has dropped its breakfast and lunch menu, the business announced on Facebook this month.
“It’s with a heavy heart that we announce the stopping of our breakfast and lunch service ‘made to order food,’” the post reads. “Over the years, the support of the Olympia community and beyond has meant the world to us. We never grow tired of our many expansions and our adventures and we value the opportunity to share it with you all. Stay tuned as we evolve into exciting avenues, as we come up with a new way of providing savory offerings. Our passion for making the finest breads and pastries is still our pride and joy.”
A developer is exploring with the city of Lacey a plan to convert an office building into 43 studio apartments at 420 Golf Club Road SE, according to city information.
The yellow-colored building, which currently is fenced off, is behind Paulson’s, a retailer of off-road vehicles on Sixth Avenue in Lacey.
“The existing parking lot will remain and the frontage will be revised to meet the city of Lacey municipal code,” the pre-submission information reads.
Bank earnings
Downtown Olympia’s Washington Business Bank reported a fourth-quarter profit that was 6% higher than the same period a year ago, the bank announced.
The bank’s quarterly profit rose 6.19 percent to $437,723 from the fourth quarter of 2022.
As for the full-year earnings, the bank reported a 2023 profit of $1.57 million, compared to $1.17 million in 2022, a 34% percent increase.
“Despite a lot of turmoil in the industry this year, our team once again outperformed,” said bank President and CEO Jon Jones in a statement. “Thanks to our clients and community for helping us achieve another record year.”
Some other results:
▪ Loans outstanding in the fourth quarter rose 10.32 percent to $91.9 million from $83.3 million in the same period a year ago.
▪ Deposits rose 3.24 percent to $79.9 million from $77.4 million over the same period.
Washington Business Bank stock trades under the ticker symbol WBZB on the OTC Marketplace.
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If you know of a retailer, restaurant, coffee shop or other business that is opening, closing, expanding, remodeling, or changing its focus, send an email to reporter Rolf Boone at rboone@theolympian.com.
