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South Lake Union Redevelopment on the Horizon

SEATTLE, WA-After 30 years of talk, changes are finally afoot in 160-acre lakefront neighborhood just north of Downtown Seattle thanks to a new agreement between the city and a subsidiary of billionaire Paul Allen, who has amassed better than 25% of the area.

By Janet Parker | Updated on May 22, 2001

SEATTLE, WA-For decades the city, businesses and residents have pushed for improved roadways and redevelopment of the roughly 160-acre South Lake Union area. Poor transportation infrastructure, abandoned projects, polluted land and failed public initiatives have prevented the realization of the “urban village” so long envisioned.

Now, however, a freshly penned deal between the city and City Investors has moved the neighborhood closer its long-sought goals. Under the agreement, the subsidiary of billionaire Paul Allen’s Seattle-based Vulcan Northwest will pay $20.8 million for eight properties totaling 4.56 acres purchased by the city during the ’60s and ’70s. Add in the 40 acres Allen already has pieced together in the area, and City Investors has more than enough property to change the area’s rundown character.

Nathan Torgleson, the South Lake Union’s project manager for the Seattle Office of Economic Development says four parcels lie directly south of Lake Union. The properties were originally set aside for a freeway extension. The project was eventually scrapped, but the land has remained out of circulation for the past 30 years.

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