The Puget Sound Business Journal is reporting that a Chicago-based real estate investment firm has purchased the empty lot at 15th Ave NW and NW Market for $12.5 million.
The demolition of the old Manning’s/Denny’s building in June of last year was controversial, with the Seattle Landmarks and Preservation Board voting that there was no economically-feasible solution to preserve the old building, which they designated a landmark. On June 24th 2009, just days after the demolition permit was issued, the building was razed.
Rhapsody Partners, the developers hired by the property owner, continued with the design process and won final approval for “Market Street Landing” (above)
even though the rocky economy made it nearly impossible to get financing. “Our intention is to take this project through the MUP (Master Use Permit) and hope that this economy and the new president and all these things that are being put into place are a catalyst to move this forward,” Rhapsody’s Katie Vance told the Ballard District Council in January of 2009.
There’s no word whether the new company is buying the plans for Market Street Landing or is planning a new development for the property.