Long-time islander Keith Riely, age 70, died April 19 at his home on Bainbridge following a long battle with cancer.
Born March 24, 1932 and raised in Seattle, he was a graduate of the University of Washington College of Business Administration. There he was seventh man in the UW Freshman Crew that won the 1951 National Freshman Championships, and was a three-year varsity letterman.
He was a member of Delta Kappa Epsilon fraternity, the Big W. Club and Opal Club, and an A.M.S. Historian.
He began his career with a two-year stint as business manager for Sweeny Plumbing & Heating.
His real estate career began in 1957 at Equitable Life Assurance Society in Seattle, where he was a staff appraiser. In his spare time and on weekends, he moonlighted doing single-family home appraisals.
In 1966 he joined Larry Shorett, MAI, CRE in the fee appraisal business and formed Shorett & Riely. Some years later, Bill Vance, MAI, CRE joined as a partner.
The partnership grew the firm to a total employment of more than 35 including support staff, with offices in Seattle, San Jose, Calif. and Anchorage, Alaska.
Riely analyzed real estate developments in cities such as Seattle, Calgary, Portland and San Francisco that were among the largest dollar investment commercial buildings ever built in those cities at that time.
He appraised virtually all of Seattle downtown’s high-rises as well as noted suburban developments such as Microsoft’s world headquarters, and Carillon Point, Bellevue. Retail appraisals included local centers such as Bellevue Square, Westlake Center and Pacific Place, as well as regionally known centers such as Pier 39-San Francisco, the North Pier-Chicago, and the Kahala Mall-Honolulu.
He also lent his expertise to the analysis and appraisal of non-traditional real estate, including the McNeil Island Penitentiary and the Seattle Space Needle. He was for many years the real estate advisor to the University of Washington on the Metropolitan Tract in Downtown Seattle.
He was a member of the Appraisal Institute (MAI), Counselors of Real Estate (CRE) and Lambda Alpha. He was qualified as an expert witness in Superior Court in Washington, U.S. District Court in Chicago, and California Superior Court in Marin County.
In 1995 Shorett & Riely dissolved, and he went on to form Wronsky Gibbons & Riely with some employees from the old company.
He retired in 1999, and spent the last few years traveling with wife Mary Ann, visiting all seven continents.
He is survived by his wife of 46 years, Mary Ann; his four children, Mark, Julie, David and Peter; and his seven grandchildren, Trenton, Taylor and Darton Riely-Gibbons, Cranston McKinnon Riely, Henry Dreyer Riely, Tyler Ryan Riely and Garret Wheaten Riely.
A memorial service will be held at his home on Bainbridge Island on July 27. For details, contact Anthony Gibbons at 842-4887.
Remembrances may be directed to Dr. Tia Higano, Oncology Research Fund, 825 Eastlake Ave. East, Seattle, WA 98109.