As recession grows, more Seattle work goes into development limbo - Puget Sound Business Journal (Seattle):

vypybiza.wordpress.com
Developer Mark Gordon plannexd to buildtwo “really nice town on a hilltop overlooking Lake Unioj just west of Interstate 5 untipl the economy put his project in Now, little more than the foundationb sits on that space. “If I builtt it and no one buys it, it woul d put me in even greater troublethan I’mj in now,” Gordon said, adding that he has put too much money into the Boylston Avenue property to turn it into rentak units. Meanwhile, waiting for the housinh market to turn around is The unfinished constructionis “a blight on the he said.
“It doesn’t make me happg because I’m paying for it and the neighbors aren’t happy because they’d rathetr look at anything other than a job he said. “I didn’t ask for this. I’m just Only half-kidding, he says, “working at McDonald’as is probably a better alternative than what Ido now.” At the site of the forme r Ballard Denny’s, developer had plands to build 32,000 square feet of retail and 287 condos. But it will only move “depending on the market,” said Mark Nemirow, a companyg executive. Already, development has been delayee a year, in part because of the landmarkj status ofthe site.
Now the company is waiting to receivde a permit from the city in the next coupls months that will allow it to cleaj up the abandoned buildings on the But the companystill doesn’t have firm planes for building. “We’re not sure if we’r going to develop or get it into a positionjwhere it’s available to said Nemirow. “We want to be readh when the timeis right.” Using an informal the City of Seattle identified these propertiee as potentially stalled. It was the first such survey in thecity said, and representas an unusually large slowdown in city development projects. Values are based on squarwe footage.
Demolition projects have zero estimatexd valueby default. Description: Demolish existin g bowling alley Leilani Lanes as per Unfit BuildingOrder #1011341 Subject to Fieldx Inspection (STFI). Description: Phass I of IV for Constructioh ofstructures (AW-8, AW-10, & as Research Labs & Labs & Offices for Excavation & PIles per plans/ (Ref MUP 3004392). Estimate value: $8,700,000 Description: Phase II of III for construction ofa 2-st R & D facility/Core & Shell super Structure/Build per Estimated value: $2,755,623 Description: Demolisuh existing bldg per plot plan subject to field Description: Phase I of IV to constructf 23-story high-rise/Shoring, Excavation & Grading only/Hotel, restaurant, Assembly, and accessory parking/build per plans.
6/6/200y7 Revision to shoring. Estimated value: $1,535,000 Construct 4-Unit townhouse, per (West 4-plex). Estimated value: $519,635 Phase I of II Gradinh / Excavation and Shoring for future construction of mixeduse building, per plans.