30 Nov Elliott Bay Bookstore: Please Stay

Update

To see an update to this post, as well as a clarification to the rumors, click here.

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(disclaimer: rumors are contained in this post. Some parts may be truth. What is truth and what is rumor, however, you will have to figure out for yourself as I have not been able to clarify any details.)

The one truth I can state here: Elliott Bay may or may not be leaving.

The Rumors:

1. A principal at Jones + Jones (owns the building) is raising rents, effectively “pushing” the bookstore out.

2. An investor in the bookstore is pushing for the move to a different neighborhood

3. EBBC doesn’t care about the neighborhood and all efforts by others to help the bookstore have been ignored. A little bird told me that a former mayor and other influential Pioneer Square residents set up a meeting with the owner to talk about possible options and to offer support, but that he didn’t show up.

4. EBBC just has a bad business model. Unwilling to go online or use an online medium to promote the store, they don’t have much of a chance. Not sure how moving to Capitol Hill will help (see report of a local CH bookstore that just closed). The rumor is that staffing levels have not changed, even in this economic downturn, making it difficult to stay in the black.

5. The Office of Economic Development (OED) has offered their help to keep Elliott Bay in the neighborhood.

According to an article that just came out in the LA times, the owner feels that it’s the store’s location in Pioneer Square that is hurting his sales, and that he could do better in Downtown or in Capitol Hill.

The article implies, however, that Aaron is waiting for a decision from 11 banks, regarding the potential of receiving a loan.

When the banners were unveiled at the ING meeting, the possible exit of the bookstore was one of the main topics. Speakers urged employees thinking about moving, to move to Pioneer Square, or to shop down here, or to party down here. At first, I was a little annoyed that Elliott Bay was being talked about at an event celebrating the neighborhood, as the topic kept coming up. But then, a member of the board pointed out that we should maximize the negativity of the situation to show the city how much help we need down here.

I originally planned on organizing a “buy a book” week for the bookstore to show them how much they mean to the neighborhood and to encourage sales. The summation of the article, however, just points to the “it’s not personal, it’s business” motto, when Aaron says that if he could lure an buyer into taking the store on as “a hobby,” the future of book retailing would no longer be his problem.

To me, that just shows a general lack of empathy for this bookstore that has been around for so long and that means a lot to so many people.

What would it take for the bookstore to stay? Is it really as simple as one of the 11 banks giving them a loan?

Whatever it is, it needs to happen soon, or our neighborhood is going to need even more help than it needs now. I’m going to follow up with the Office of Economic Development to see what incentives are offered to businesses that are willing to open up shop in Pioneer Square. If they do decide to leave (which I hope they don’t), let’s get another incredible “destination” shop in there, and prevent another rug store, bar, or homeless shelter from moving in.

UPDATE

Just had a brief conversation with the owner and it looks like we’ll be able to clear up some rumors and maybe figure out how to help the bookstore. Be on the lookout for an update this Saturday. Christmas is a good time for a bookstore-buy push, don’t you think?