Point Hotel site facing foreclosure

It looks like one of the proposed hotels for Ballard isn’t going to happen.

According to our news partners, the Seattle Times, Columbia State Bank filed notice last week that it intends to foreclose on the site of the proposed Point Hotel at Salmon Bay. The 166-room hotel, which we’ve written about in the past, was supposed to be built in the parking lot of the former Yankee Grill. According to the Times, Ballard Hotel LLC hasn’t made a payment on their loan since November. A trustee sale is scheduled for July 22, the Times is reporting. You can read more from the Seattle Times here.

The owner of the Olympic Athletic Club is still moving forward with the proposed hotel on Ballard Avenue.

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KSW
Guest
KSW

THANK GOODNESS!!!!

Hajil
Guest
Hajil

Good!

Strike
Member
Strike

Too bad. Would have been great to have a decent place for friends and relatives to stay in Ballard that was close to my house.

Waaaaaaaaaaaaah
Guest
Waaaaaaaaaaaaah

Great news, I know! Bankruptcy, unemployment, no new construction and best of all, no new hotel in Ballard with jobs for people, out of town guest shopping in our neighborhoo. Warms my heart too.

KSW
Guest
KSW

I don’t have a problem with a hotel in the area, great idea, but, not that location. I enjoy seeing the canal, bring back the restaurant!!

Mike G
Member
Mike G

Shucks. We really need a nice hotel in Ballard for visiting family.

Long Time Ballard Resident
Guest
Long Time Ballard Resident

Well, at least we know you’ll be happy with the view as you drive by there once per month! Even if it means that no new jobs, no tax revenue, and the people who could be working here going hungry.

Andrew
Guest
Andrew

Hey KSW, will you be able to see the canal through any development that goes in there? They are selling the property at a deeply discounted price and it will be developed. Apartments anyone? That is what is re-starting in Seattle right now. I would have preffered a Hotel for guests and tourists with money to spend at local businesses.

Move to the sticks KSW, you are in the city now.

Anonymous
Guest
Anonymous

Foreclosure means that the property will now change hands. As it was, nothing was going to be built by someone who couldn’t afford to make the payments, so if anything this foreclosure only makes the property much MORE likely to be developed.

Khcrews
Guest
Khcrews

We don’t need a hotel.. we need a parking structure!