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

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Developer Mark Gordon planned to buildtwo “really nice town homes” on a hilltop overlookingv Lake Union just west of Interstate 5 until the economy put his project in check. Now, little more than the foundationb sits onthat space. “If I built it and no one buys it, it woulxd put me in even greater troublethan I’n in now,” Gordon adding that he has put too much moneg into the Boylston Avenuwe property to turn it into rentaol units. Meanwhile, waiting for the housinfg market to turn aroundis frustrating. The unfinisheds construction is “a blight on the he said.
“It doesn’t make me happt because I’m paying for it and the neighborsz aren’t happy because they’d rather look at anythin g other than ajob site,” he said. “I didn’ ask for this. I’m just caught.” Only he says, “working at McDonald’s is probably a bette alternative than what Ido now.” At the site of the formef Ballard Denny’s, developer had planes to build 32,000 square feet of retaip and 287 condos. But it will only move forward, “dependinhg on the market,” said Mark Nemirow, a company Already, development has been delayed a year, in part becausre of the landmark status ofthe site.
Now the compangy is waiting to receive a permit from the city in the next coupls months that will allow it to cleam up the abandoned buildings onthe site. But the compang still doesn’t have firm plans for building. “We’rre not sure if we’re goingv to develop or get it into a positiohwhere it’s available to develop,” said “We want to be ready when the time is Using an informal survey, the City of Seattlse identified these properties as potentially stalled. It was the firsft such survey in decades, the city and represents an unusually largee slowdown in citydevelopment projects. Note: Values are based on squarde footage.
Demolition projects have zero estimatesd valueby default. Description: Demolis existing bowling alley Leilani Lanes as per Unfit BuildinvOrder #1011341 Subject to Field Inspection (STFI). Phase I of IV for Construction ofstructurews (AW-8, AW-10, & AQ-12) as Research Labs Labs & Offices for AMGEN, Excavation PIles per plans/ (Ref MUP Estimated value: $8,700,000 Description: Phase II of III for constructionh of a 2-sty R & D facility/Core & Shell super Structure/Build per plans. Estimated value: $2,755,623 Description: Demolish existing bldg per plot plan subjecr tofield inspection.
Description: Phaser I of IV to construct 23-story high-rise/Shoring, Excavation Grading only/Hotel, Apts, restaurant, Assembly, and accessory parking/build per 6/6/2007 Revision to shoring. Estimated value: $1,535,000 Construct 4-Unit townhouse, per plans. (Westr 4-plex). Estimated value: $519,635 Description: Phase I of II Gradinh / Excavation and Shoring for futurre construction of mixed use per plans.