Family Business Awards -- Leadership: Honoring enlightened direction in business and public policy
WINNER: Wallace Properties
Location: Bellevue
Employees: 44
When Dr. Marvin Wallace purchased the land that he and his son, Robert, would transform into Bellevue North Shopping Center, he was making the down payment on a family legacy that would go on to shape not merely the built environment of Greater Seattle but also the business, political and public life of the region.
Since that 1977 transaction, Wallace Properties has grown from a small property management company into a full-service commercial real estate enterprise with recent projects such as 507 Northgate, the first mixed-use residential facility completed in the Northgate Urban Center; a 107-unit apartment complex in Seattle’s Pike-Pine district, and a community center for the City of Snoqualmie. But even as chairman and CEO Robert Wallace, wife Joan (managing broker and president until she retired in 2007) and son Kevin (president and COO) built their extensive portfolio, they have consistently given generously of their time, capital and brainpower.
“We have an obligation to give back to the communities and organizations that contributed to our success,” Robert Wallace says.
The family is active in a wide range of community organizations, including food banks for schoolchildren, economic development projects and world health. Robert Wallace has contributed his considerable expertise as chairman of a number of important regional projects, such as the Washington State Convention Center, Puget Sound Air Transportation Commission, the Seattle Metropolitan Chamber of Commerce and more. Son Kevin carries on the family legacy as a member of the Bellevue City Council.
“The Wallace family has made a long-term investment in this community by being directly involved in policy to support a sustainable business community and inspiring others with their generosity,” says Family Business Awards judge Jim Warjone. “They’re the kind of family you want to have in your community.” — L.W.
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