Jacobsen's Marine, which has been selling and servicing salt water sport-fishing boats on the corner of 24th Avenue Northwest and Market Street since 1951, is staying in Ballard after a deal with the Port of Edmonds fell through.

In June 2007 the Ballard News-Tribune reported that Jacobsen's would be selling its property in Ballard to build a new home at the Port of Edmonds because the Ballard property was getting too valuable and was ill suited to the larger sport-fishing boats that have become the norm.

The deal, which was close to being finalized last June, fell through this summer because the cost of the project rose out of Jacobsen's range, increasing from $1 million to $1.5 million, owner Greg Jacobsen said.

"At the end of the day, our business just can't afford what the building was going to cost," he said.

Chris Kuess, the Port of Edmonds executive director, said he was notified that Jacobsen's was pulling out of its lease this August.

He said the loss of the Jacobsen's deal will not affect the port directly because it would have been included in next year's budget, not this year's, but the port was planning on $50,000 per year from the lease in the future.

Jacobsen said there were many factors contributing to the increase in the estimated cost.

For example the project was going to require the hiring of a landscape architect, which the company did not plan on, he said.

Jacobsen said the company is planning on staying in Ballard for the foreseeable future and has no ideas for other possible locations.

He said cost would most likely prevent Jacobsen's Marine from getting any better location than they have at the moment.

Jacobsen said he appreciates the deal the Port of Edmonds offered and understands it is probably the best offer the company could get.

At a Port of Edmonds commission meeting on Sept. 8, Jacobsen said he would be open to looking into moving into an existing building at some point in the future, according to the meeting's minutes.

The port does not have any buildings available that could house Jacobsen's Marine, but Kuess said he would always be open to working with the company in the future.

Michael Harthorne may be reached at 783.1244 or michaelh@robinsonnews.com