SEATTLE — A plan to develop an empty block in downtown Seattle into a public plaza has again fallen through due to financing issues.
The Seattle Times reports (http://bit.ly/24WLFse ) that Mayor Ed Murray announced Thursday that the latest development deal for the city-owned property just west of City Hall has fallen through and that the block will remain undeveloped for the foreseeable future.
City officials have been looking to sell the parcel since the Public Safety Building was demolished in 2005. In 2007 Seattle signed a contract with Triad Development. The project stalled during the recession and in October Murray vowed to cut ties with the developer. A new developer said it was unable to secure financing for the project.
Now Seattle officials say they will reassess if their design is possible.
Information from: The Seattle Times, http://www.seattletimes.com