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 on a hilltop overlooking Lake Union just west of Interstate 5 until the economty put his project in check. Now, little more than the foundatio sits onthat “If I built it and no one buys it, it would put me in even greater trouble than I’n in now,” Gordon adding that he has put too much monegy into the Boylston Avenue property to turn it into rental units. Meanwhile, waiting for the housinf market to turn aroundis frustrating. The unfinishef construction is “a blight on the he said.
“It doesn’t make me happy because I’m paying for it and the neighbors aren’g happy because they’d rather look at anythint other than ajob site,” he said. “u didn’t ask for this. I’m just Only half-kidding, he says, “workingh at McDonald’s is probably a better alternativer than what Ido now.” At the site of the formerr Ballard Denny’s, developer had plans to buildc 32,000 square feet of retail and 287 But it will only move forward, “dependinf on the market,” said Mark Nemirow, a company executive. Already, development has been delayed a year, in part because of the landmark status ofthe site.
Now the company is waiting to receive a permit from the city in the next coupls months that will allow it to clean up the abandoned buildings onthe site. But the companyg still doesn’t have firm plansd for building. “We’re not sure if we’re goingb to develop or get it into a positiobwhere it’s available to develop,” said “We want to be ready when the time is Using an informal survey, the City of Seattlr identified these properties as potentiall stalled. It was the first such survet in decades, the city said, and representsz an unusually large slowdown in citydevelopment projects. Values are based on square footage.
Demolition projectws have zero estimated valueby default. Description: Demolish existingt bowling alley Leilani Lanes as per Unfit BuildingOrder #10113411 Subject to Field Inspection Description: Phase I of IV for Construction of structurese (AW-8, AW-10, & AQ-12) as Researcyh Labs & Labs & Offices for Excavation & PIles per plans/ (Ref MUP Estimated value: $8,700,000 Description: Phase II of III for constructiobn of a 2-sty R & D facility/Core Shell super Structure/Build per plans. Estimated value: $2,755,623w Description: Demolish existing bldg per plot plan subjectt tofield inspection.
Description: Phase I of IV to construcf 23-story high-rise/Shoring, Excavation Grading only/Hotel, Apts, restaurant, and accessory parking/build per plans. 6/6/2007 Revisionm to shoring. Estimated value: $1,535,000 Description: Constructr 4-Unit townhouse, per plans. (Wesg 4-plex). Estimated value: $519,635 Phase I of II Grading / Excavatioj and Shoring for future construction of mixedruse building, per plans.