SkyscraperCity Forum banner
1 - 20 of 118 Posts

·
Correspondent
Joined
·
8,276 Posts

·
Registered
Joined
·
8,083 Posts
SEATTLE | 1916 Boren | 44 Stories

Latest design review announcement: https://web6.seattle.gov/dpd/eplan/...ce: Notice of Design Review Board EDG Meeting

Previous draft EDG packet (submitted Nov ‘17): http://web6.seattle.gov/dpd/edms/GetDocument.aspx?src=EDMS&id=3609788

From todays DJC.

http://www.djc.com/news/re/12100470.html

May 17, 2017

Denny Triangle site sells for $25M

By BRIAN MILLER
Journal staff reporter

The property at 1916 Boren Ave. has sold for $25 million, according to King County records.

The seller was Concerto Investments LLC, associated with the Fassio family, which acquired the property in 1998 for $2.4 million.

The buyer was GZI Boren LLC, which is governed by Yuan and Ming Lin, who list a Bellevue residential address. According to Bloomberg, GZI is a Hong Kong-based REIT.

Kidder Mathews, which represented the seller, said that massing studies for a 440-foot residential tower were prepared by Weber Thompson. The brokerage firm said GZI Boren LLC plans to develop apartments or condos on the site.

Three years ago, before putting it on the market, the Fassios submitted the building — a 1928 former Bartell Drugs building — to the Seattle Landmarks Preservation Board, which did not designate it a landmark.

The properties on the north and south corners of the block are separately owned. On the north corner is a psychiatric clinic and group home. The smaller south corner, at Stewart, is a Dollar car-rental lot.




From last Thursday's DJC.

http://www.djc.com/news/re/12103924.html

September 7, 2017

Hotel, residential tower planned for 1916 Boren

MZA Architecture is designing the structure for GZI, a Hong Kong-based REIT. The site is zoned up to 440 feet.

By BRIAN MILLER
Journal staff reporter

Four months after the midblock office property at 1916 Boren Ave. sold for $25 million, the Chinese-backed developers have begun planning a high-rise hotel/apartment building.

However, there's an interesting new development in early plans prepared by MZA Architecture. The small site to the south, which hasn't yet sold, is now included in the project.

GZI Boren LLC paid almost $1,100 per square foot for its 22,800-square-foot parcel, excluding the value of a three-story, 1929 office building that will be removed. The sellers were members of the Fassio family, which acquired the property in 1998 for $2.4 million.

To the south, at the corner of Stewart Street, is the 5,160-square-foot Dollar Rent a Car property, which is not publicly listed for sale. It was purchased by Mercer Island investor James Cassan in 1998 for just under $683,000.




 
1 - 20 of 118 Posts
Top