Fuji Ya Dispute Resolved
No Condos To Be Built
On March 17, 2005, the Park Board entered into a purchase agreement with Columbia Development for the purchase of the Park Board’s Fuji Ya property. The purchase agreement stipulated that there would be a condo development with a parking ramp and that the Park Board would lease 85 stalls from Columbia and rent them out to the public. The income from the leased stalls was intended to enrich the Park Board’s enterprise fund.
In November of 2005, Columbia Development sought title to the Park Board’s Fuji Ya property prior to the completion of its contractual obligations. The Park Board objected to Columbia’s demands and on December 17, 2008, the Park Board voted to terminate the purchase agreement with Columbia. Columbia continued to force the sale. On November 12, 2009, District Court Judge Marilyn Rosenbaum ruled for the Park Board and against Columbia, stating that the Park Board had the right to terminate its purchase agreement with Columbia. The judge’s decision is attached below.
Consequently, there will be no Wave Condo development on the Fuji Ya site and the Park Board will retain ownership of the property.
Co-founder of Park Watch
Order Granting Summary Judgment.pdf