The Reef, E Olive Way’s first legal pot shop and Capitol Hill’s third marijuana retail outlet, is preparing to make a Hempfest debut giving it a smokey head start on nearby rival Uncle Ike’s.
The annual celebration of cannabis takes place starting Friday along the waters of Elliott Bay in Myrtle Edwards Park just as the wildfire haze is forecasted to be clearing out of the city.
Joining its Bremerton-born sister location, the new Reef is positioned as taking “a tech-forward but high touch approach” at the intersection of John, Denny, and E Olive Way “on Capitol Hill’s ‘Amazon Slope'” — please direct all “Amazon Slope” hate mail to The Reef, thanks.
In April, CHS reported on The Reef’s victory in the race to be the first retail marijuana shop approved by the Washington State Liquor and Cannabis Board for E Olive Way. It was no small feat. The company had to beat out the experienced team behind Uncle Ike’s and a third competitor that has since dropped out of contention on the street.
The Reef is owned by a company belonging to real estate investor Adam Simon, according to state corporation records. Simon and Aaron Bennett purchased the building home to The Reef for $1.4 million in June 2017.
In addition to the major real estate investment, the partners have also spent heavily on rebuilding the former home of Amante Pizza with an Olson Kundig design that sets out to “elevate Seattle’s cannabis culture” with “superior in-store experiences” and “digital product research kiosks.”
The Hempfest opening puts The Reef well in front of the coming project from Ian Eisenberg and Uncle Ike’s that was approved for a retail license in July. Eisenberg purchased the former law offices building at 1411 E Olive Way next to the Crescent for more than $2 million to be able to hang his pot shingle on the street. Uncle Ike’s will be playing catch-up — its construction permits were finally approved this week.
The Reef is open soon at 1525 E Olive Way. You can learn more at thereefstores.com.