Dorssers (Monaco-Harry) - Monte Mare LLC - Port Angeles

Hendrik Johannes Dorssers - Monte Mare LLC - Port of Port Angeles

Peninsula Daily News - Last modified: September 18. 2008 9:00PM

Port Angeles waterfront property up for sale - again

By Tom Callis, Peninsula Daily News

PORT ANGELES - A 1.9-acre waterfront lot on Oak and Front streets is back on the market after a deal to sell the property to a hotel firm fell through. It's now listed for sale at $1.6 million - about twice as much as owner Harry Dorssers paid for it in 2006.

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Dorssers, owner of Monte Mare LLC, said he blamed the economy. "Nobody has any money at the moment," he said from his cell phone in Monaco on Wednesday. Neither Dorssers, nor his real estate agent, Dan Gase, would comment on who the prospective buyer was, or what they had in mind for the property.

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Dorssers originally considered building an aquatic center on the property. Then, he planned to build a $30 million condominium development before deciding to sell all or part of the land for what port officials said would be a hotel. Now, Dorssers says he is not sure what he is going to do with the site other than list it for sale.

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Earlier plans

Gase, Coldwell Banker Uptown Realty president, said Dorssers had planned to construct 75 condo units and 10,000 square feet of retail space on the property. The project fell through in June because Dorssers said he couldn't get the needed financing.

Dorssers said he needed to come up with $12 million for the project. "I needed investors," he said. "I'm not that rich."

Gase said banks see condo projects as risky, and typically require at least 50 percent of them to be pre-sold before they provide financing for a project. About 45 people were on the waiting list, but not enough of them could purchase the condos at the time, he said.

The project - which in 2007 was estimated at $30 million, and included underground parking and over 100 condo units - was scaled down earlier this year. Dorssers and Treadwell Jones of Concept Dorssers in the Seattle area had originally proposed building a European-style aquatic center on the property in 2005.

Gase said Dorssers had a successful career building aquatic centers in Europe. He designed more than 80 aquatic centers that included slides and wave machines, Gase said.

Dorssers said he acquired the property with the initial intent of creating a European-style aquatic center to replace the William Shore Memorial Pool, operated by the city.

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Read the full article: Port Angeles waterfront property up for sale - again (link to Peninsula Daily News)

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