In 1997, ten acres in the South Lake Union area reverted to Allen upon the failure of the Commons initiative, which he had backed. That property became the core of his South Lake Union portfolio. With that parcel and his acquisitions here since Allen has amassed approximately 35 acres. Reports place the full amount spent on properties, through the billionaire's Vulcan Northwest Inc., in the vicinity of $100 million. This most recent purchase, totaling approximately 1.5 acres, was acquired from Savage Wholesale Building Materials Inc. of Tacoma.
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