Slog

South Lake Union resident Red Reddick was wary of a letter that arrived in her mailbox last month on a letterhead for Vulcan Endeavors, LLC. It said that by using public records, the company had ascertained she owned land in the area, and that “if you would like to sell your property… we may be just what you are looking for.” It continued, “We guarantee you an offer.”

Reddick is a member of the Shelter Project, a low-income housing collective that owns three side-by-side apartment buildings. The project’s bylaws prohibit the owners from selling. Reddick says she’s concerned that Paul Allen’s Vulcan Real Estate is systematically buying up affordable housing in South Lake Union and turning it into high-end developments; already, Vulcan has bought up more than 60 acres of the neighborhood.

Several years ago, Redddick and her neighbors tried unsuccessfully to protect the Lillian Apartments, which Vulcan bought and then demolished. “Our property taxes are much higher than they were five years ago,” she says. “We’re pretty much talking about wide-scale gentrification.”

When Reddick called the agents named in the letter, she asked if they represented Vulcan Real Estate. They replied “no,” but said that they “are working with Vulcan,” she says.

But in a bizarre twist, Vulcan denies Vulcan’s claim.

“We have never heard of the company Vulcan Endeavors,” says Vulcan Real Estate spokesman Aaron Blank. He says Vulcan has never used the “Vulcan Endeavors” name to buy property nor has it ever worked with the company. Neither the web site nor the mailing address on the letter are shared with Vulcan Real Estate. So it isn’t clear if Vulcan Endeavors is anything more than a letterhead. Blank asked for a copy of the letter so Vulcan could follow up.

The agents named in the letter from Vulcan Endeavors, LLC have not returned phone calls or emails to comment.