Already, the P2 campaign has received a $100,000 matching gift from Columbia Credit Union.
“That’s if someone wants to [donate] a hundred dollars or a thousand dollars, we’re here to match it,” said Steve Kenny, Columbia CEO.
Kenny, along with Columbia’s Senior VP Marketing & Chief Deposit Officer Colleen Boccia, said that getting on board the P2 campaign was a no-brainer.
“It’s a combination of the historical importance, the underutilization of seven acres so close to our downtown core, its proximity to the library and its community value,” the pair said. “We think it could turn into a very vibrant center… It just adds value to our community.”
Purchase progress
To date, the Trust has secured $3.75 million to put toward the $10.6 million purchase price for the Academy building and property, which has been owned by the Hidden Family since 1969. An agreement between the Trust and the Hiddens allows for a down payment of $5 million on the building with a five-year payoff plan.
In addition to funds already secured, Topper said the Trust is waiting on $3 million in strong pending proposals. The organization has also made a $1 million capital request at the state level and another $1 million request through a private grant foundation.
“We’re lining up a lot of requests and things are finally starting to come in. It’s really exciting,” said Topper. “This is the part of the campaign that has the most energy.”
Williamsburg-inspired development
While Strahan noted that the Trust has yet to go beyond a preliminary visioning for the Academy property, Topper said the nonprofit is sticking with the model that Virginia’s Colonial Williamsburg has demonstrated to be a success with their historically-inspired retail center, Merchant’s Square.
“[Merchant’s Square] is a really good model for us to look at as an organization,” said Topper. “Like us, they’re focused on history and interpretation, but they also have this very vibrant retail with restaurants and small niche shops. It really complements their tourism and their greater community.”
With lessons learned from the Trust’s other historic properties, Strahan said future development at the Academy site would need to include the mixed-use of office space, retail space, restaurants and residential opportunities.
“Our experience on Officer’s Row and the West Barracks is that you can create a real vitality if you have someone on the property 24/7, and that’s exactly what we’re looking to do here at the Academy site,” he said. “We look at it as a place that will attract people because of the history of the Academy and Mother Joseph, but we also see it as a place that can meet many different needs.”
Strahan stressed that future development on the site would not detract from the Academy building itself. Rather, it would work to enhance it.
“We need to make sure that what we do is development that really reflects and respects the iconic nature of the Academy. Everything we do will be to add value to the site in continuing to polish that gem, if you will.”
Creating a destination
Kim Bennett, president and CEO of the Vancouver USA Regional Tourism Office, said that taking a historic building like the Academy and reprogramming it to be active again will do wonders for local tourism.
“People coming into the community are often looking for an experience in Vancouver that is representative of our history and culture. Adding one more historic venue, if done correctly, will be a huge asset for the tourism community,” she said. “We think the Fort Vancouver National Trust will be a good steward of that property.”
For more information about the P2 campaign, visit www.academycampaign.org.
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