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48 | Old Heat CERB Feasibility Study <br />1304 W University Way in Ellensburg, WA <br />$3,350,000 <br />This property, currently operating as Rodeo City Self Storage, sits directly <br />within Ellensburg city limits and is zoned Commercial Highway with no reported <br />environmental issues. Built in 2004, the existing facility features 18,058 square <br />feet of self-storage units. This 1.24-acre parcel boasts direct access into the city <br />via University Way, a primary road leading to Central Washington University, <br />about 1.5 miles away. <br />Pedestrian access is also an asset, with the nearest bus stop less than 0.2 miles <br />from the property. While the location offers high visibility and proximity to nearby <br />residential areas and CWU, converting it into a community building would present <br />significant challenges that likely outweigh any benefits. As a highly operational <br />and profitable self-storage facility, this property would require complete and <br />costly demolition and redevelopment. The specialized infrastructure of a storage <br />facility would not be compatible with the spatial and functional needs of a public <br />community center, demanding substantial investment in renovation or new <br />construction. <br />Furthermore, a critical limitation for any public facility is the severe lack of <br />adequate on-site parking. The 1.24-acre lot is mostly developed with storage <br />units and drive aisles, making it insufficient to handle the parking demands of a <br />community building, which would naturally attract considerable vehicle traffic. <br />The elongated, rectangular shape of the parcel also restricts flexible architectural <br />design, potentially compromising the optimal layout and functionality needed for <br />a multi-purpose community space. Given these substantial hurdles, this property <br />would not be a suitable fit for the proposed community building project.5 <br />Exhibit 7: University Way <br />Image Credit: Loopnet