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Allen, Vance JV on $200-Mil, 5-Star Hotel

SEATTLE, WA-Refuting news reports inferring the project is contingent on an analysis of the competition, The Vance Corp. says its high-end development with Paul Allen's City Investors will move forward "no matter what" because what's coming and existing simply won't match up.

By Janet Parker | Updated on June 11, 2001

SEATTLE, WA-With a handful of major development projects already in the works throughout Puget Sound, billionaire Paul Allen is partnering on the development a five-star, $200 million hotel in downtown Seattle.

City Investors Inc., a real estate subsidiary of Allen’s Bellevue, WA-headquartered Vulcan Northwest, and Seattle-based developer The Vance Corp. announced their partnership (known as Comprise LLC) for the development of the 300-room hotel.

Jim Falconer, principal in Seattle-based Vance with Mark Houtchens, tells GlobeSt.com the preliminary concept, for what is now only the Midtown East Development, calls for the inclusion of luxury condominiums above the hotel and retail below. Beyond that Falconer was unable to provide specifics.

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