• SCORE  (Search Committee on Real Estate) UPDATE 

  Deep Bows and Greetings Red Cedar Zen Sangha Members-

  Just after we returned from 8 days at Samish with 60 fellow dharma friends and our Guiding Teacher Zoketsu Norman Fischer, a property we just missed making an offer on earlier this year was miraculously re-listed.   The 3, 750 sq. ft. commercial office building, located at 2509 Cedarwood in the Birchwood neighborhood (north Bellingham) was back on the market at $799,000.

  On Friday, July 1, we offered the seller $800,000 and quite favorable down payment terms.  He accepted our offer and countered with a seller-financing proposal with a lower interest rate than current bank charges and no bank loan fees.  In an incredibly tight and competitive market with other offers in the wings, we accepted, subject to inspection and other necessary evaluations.    We are now in a mutually binding contract with earnest money in escrow.  We are scheduled for closing on August 15, all subject to the findings of our due diligence investigations over the next 3 weeks.  

  This is not yet a done deal. Subject to what we find out, we are not obligated to consummate this transaction.  However, it appears to be a quite workable location for a zendo space with associated offices that will generate a steady income stream to help cover our mortgage.  The currently leased office on the ground floor offers the opportunity to expand our zendo footprint in the future. Upstairs are two offices totaling 1,500 sq. ft. that will be immediately available for rent. 

  The largest section of the building (about 1300 sq feet) can work as a good basic zendo providing us with the essentials:

• • A 600- 800 square foot zendo - will seat 20-25 (an accurate zendo and zabuton layout needs to be drawn to get exact number)
  • two bathrooms
  • a small simple kitchen
  • an additional 380 sq ft room for library / dokusan / meeting space
  • basic storage space

While not in the central part of Bellingham, as stipulated in our original search criteria, the building is on a high-frequency bus line (Route 50) from downtown, has 12 paved parking spaces, and is set back from the road with a large yard. Squalicum Creek and Cornwall Park are nearby, and the Birchwood neighborhood is a focus for City of Bellingham future investment.

As a religious organization, we must receive from the city a Conditional Use permit.  During the estimated 6-month review and approval process we can happily continue to practice at BUF. while we carry out any interior modifications.

You can take a virtual tour here:

https://www.loopnet.com/Listing/2509-Cedarwood-Ave-Bellingham-WA/25754442/

OR you can join us tomorrow (July 7) at 5 PM for a tour of this building.  If you plan on attending, please RSVP to Bob Rose @ basilbob1@gmail.com.