So, 1st South Lake Union, then Yesler Terrace, and now the Heart of the Central Area?  According to the the Capitol Hill Blog (Post Below), Paul Allen is looking to redevelop the Promenade 23.    For those with any property or holdings left in the Central Area make sure you hold on! For those in the Southend between the CD and Columbia City… You are sitting pretty.  This type of development can only come south.   Development is coming… the question is how can we 1) preserve type of history and 2) be in position to benefit economically.    Very interested in how this will mess with the new Arts and Culture District that the Mayor established in November?


 

Here is part of the original post from the CHB:

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Seattle real estate giant Vulcan has entered into an agreement to evaluate for purchase the property around 23rd and Jackson, home of the Promenade 23 and anchor businesses like Walgreens,Starbucks, AutoZone and Red Apple.

A spokesperson for the Paul Allen-backed company confirmed the agreement with CHS Tuesday afternoon after area businesses were informed of the process.

“We think it’s a really great area with a really rich cultural background,” the spokesperson said.

According the Vulcan representative, the evaluation process for the 6 acres on both sides of S Jackson shouldn’t take more than a couple months.

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Read more here on the CHB

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