Two businesses operating under almost identical names are trying to
buy property in South Lake Union. One, Paul Allen’s Vulcan Real Estate,
is well known. The other, Kip Wassink’s Vulcan Endeavors, is not. But
the similarity of the companies’ names is confusing residents who have
received offers from Vulcan Endeavors to buy their property.
A letter printed on Vulcan Endeavors stationery arrived last month
in South Lake Union resident Red Reddick’s mailbox. By using public
records, the letter said, the company had ascertained she owned land in
the neighborhood. “If you would like to sell your property… we may be
just what you are looking for,” the letter said.
Reddick was concerned that Vulcan Real Estate, which owns more than
60 acres in South Lake Union, was trying to buy more of the
neighborhood. Several years ago, Reddick and her neighbors tried
unsuccessfully to protect the Lillian Apartments, a low-income
apartment building that Vulcan bought and then demolished.
When Reddick spoke to the agent named in the letter, she asked if
his company represented Vulcan Real Estate. He replied, “No,” but said
that the company is “working with Vulcan,” she says.
Vulcan Real Estate denies any association. “We have never heard of
the company Vulcan Endeavors,” says Vulcan Real Estate spokesman Aaron
Blank, who works for the PR firm the Feary Group. Blank requested a
copy of the letter and forwarded it to Vulcan, which has not taken any
action against its doppelgänger.
“I didn’t know of Paul Allen’s company when I started my company,”
insists Wassink, whose company has been buying land on the outskirts of
the city for three years. He says he chose the name “Vulcan” from
mythology, and calls it a “coincidence” that his real-estate firm’s
name is virtually identical to that of Seattle’s highest-profile
developer. To date, Wassink has not been successful in buying any South
Lake Union land. He sends about 500 letters a month to owners of
property close to downtown. 