Chow is expected to develop a project that would include the entire block, which is flanked by Maynard Avenue South, South Charles Street, Seventh Avenue South and South Dearborn Street. The specific nature of the development is not known, but Chow reportedly is weighing the economy and considering several options, including an office building.
Chow, who has been a commercial property owner in Seattle for the last two decades, transformed the Crescent Foods building on the Pang warehouse block into about 15,000 sfof office space aboutt a year ago.
Kauri Investments had acquired the warehouse property from Harry and Mary Pang for $500,000 in April. Kauri had been working to develop the property in conjunction with the Pangs. Kauri Investments had received financing and permits to build 76 apartments in a six-story structure over underground parking.
Four firefighters died while attempting to extinguish the fire that gutted the Pang's frozen-food warehouse. The Pangs' son, Martin, was sentenced to a 35-year prison term for setting the blaze.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
