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GlobeSt.com UPDATE: Council Likes 300,000-SF Qwest Building

BELLEVUE, WA-In their first public discussion of the possible $94-per-sf acquisition for a new civic center, Bellevue City Council members called it a bargain price. Necessary renovations would raise the total project cost to as much as $350 per sf.

By Gina Binole | Updated on September 17, 2002

BELLEVUE, WA-It is clear that the Bellevue City Council is interested in buying a Downtown office building owned by Qwest and turning it into a new civic center at a cost of between $300- and $350-per sf. The 298,000-sf telecommunications building is located across from Meydenbauer Center at 450 110th Ave. N.E.

At the beginning of the month GlobeSt.com reported that the city was in early consideration of the idea. During the City Council’s first public discussion of the idea this week, council members and the mayor called it a bargain and suggested it be done without raising property taxes.

The preliminary plan would be to pay Qwest $94 per sf ($28 million) for the mid-rise office building built in 1983. Renovating the building for city needs, however, could push the total project cost to between $300- and $350-per sf ($90-$105 million). By comparison, the City of Seattle is looking to build a new 350,000-sf Downtown office building for a total project cost of about $300 per sf.

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