By LEAH WEATHERSBY

If Dwayne Edwards, executive director of the Fremont UNconventional Centre (FUNC), has his way, Fremont won't be losing the Trolleyman Pub, it will be gaining a new watering hole, event space with kitchen facilities and theater.

Many Fremont residents and business people were grieved by the announcement in August that Redhook Ale Brewery would leave its long-time location at 3400 Phinney Ave. N., which currently house offices, a test brewery and the Trolleyman. Redhook plans to move its headquarters to its brewery in Woodinville in mid-September.

Paul Shipman, Redhook's president and chief executive officer, said the move will save his company close to $300,000. While Redhook owns its brewery property in Woodinville, it has been leasing its space in Fremont.

Shipman said he looked at many different options for the history Redhook building in Fremont (a former trolley barn), but his choices were limited by Washington state liquor laws, which won't allow a brewer to own a stand-alone pub (without a brewery) or lease it to another retailer.

However, by the time Redhook made their announcement, their neighbor to the west, FUNC, had long been eying the property for its own expansion.

Founded last year, by former software entrepreneurs Edwards and David Moore, FUNC is a non-profit event space located across the street from Redhook. FUNC offers their current warehouse-style location to everyone, but rents to other non-profit groups at a discount. Edwards said that FUNC's existing space is much in demand and he'd like to able to run concurrent events.

"I can triple book every weekend I have," Edwards said.

FUNC's plans for the Redhook building include a 220-seat theater to be run in conjunction with Wing-It Productions/Jet City Improv, the theater troupe that, among other things, performs Twisted Flicks at the Fremont Outdoor Cinema. The building would also house a 12,000-square-foot event space with a kitchen/commissary area, and a pub which would still carry Redhook brews. In fact, Edwards said, the building would continue to be known as the Redhook building, partly because it's still a well-known landmark to visitors.

Edwards said historic features of the building wouldn't be disturbed, all though some retrofitting would be required and there might be minor changes to the Trolleyman. The soon-to-be former Redhook building is owned by Pacific Realty Association, company whose majority owner is the Washington State Employee's Pension Fund. Ken Hirata, a real estate broker with Insignia Kidder Mathews, which is handling the leasing for the Redhook building, said the 26,610-square foot property is currently being offered at $26,000 per month plus the building's operating costs.

So how can a non-profit cover a yearly rent of over $300,000?

Edwards said that in addition to Wing-It, which would pay its share of the rent, FUNC would likely bring in other tenants. He said a landscape architecture firm as well as a second theater company called Mirror (which has space in FUNC's current building) have already shown interest. Those revenue sources, combined with an event space four times larger than FUNC's current building, and sales at the pub should bring in enough money to pay the rent, Edwards said.

Finally, he added, he's hoping for a good deal.

"We're hoping they will negotiate with us and try to get us something if not below market rate (then) low market rate."

Asked if he thinks the building will draw much interest from other prospective tenants, Hirata said, "we've priced it at a pretty reasonable price, so we think that will help." He added that Pacific hopes to sign a five-year lease with the new tenant, and will likely be looking for someone who can prove their financial stability.

Hirata confirmed that FUNC has expressed interest in leasing the Redhook building. While he doesn't know whether Edwards and Moore's company will be chosen, Hirata said, "We'll seriously look at FUNC."