A solid example is the $350 million Lincoln Square development under construction across the street from the dynamic Bellevue Square mall. The project includes a 27-story office tower at the corner of Bellevue Way and NE 8th and a 40-story tower with a 305-room Westin hotel, 134 condominium units, 360,000sf of retail space, a movie theater and parking garage.

Last year, one of the original anchor tenants, Drugstore.com, announced it would no longer be leasing 140,000 sf of space in the $350 million mixed-use project. Now, PCL Construction Services, contracted to build the parking facility, has pulled out prior to completion.

Ian Gillespie's Vancouver, British Columbia-based Westbank Projects Corp. is the developer of Lincoln Square, in a partnership with Lend Lease. Gillespie was not immediately available for comment on how the project is proceeding.

In a complex construction-bid arrangement, PCL was to complete the five-level, 2,200 parking-stall garage before giving way to San Francisco-based Swinerton, which won the building-bid portion over Howard S. Wright Construction and PCL.

Local brokers say if all leases had been honored, PCL probably would have completed the parking structure under the planned 42-story tower, which will include a hotel and condominium units plus an adjacent 27-story office building.