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Friday, November 9, 2007

Sound Transit Pays Big Bucks to Halt Development

posted by on November 9 at 17:17 PM

Today, Sound Transit’s board approved a series of monthly $32,000 payments to developer Pryde & Johnson, to halt construction at a property on 67th and Roosevelt. They payments would hold development through 2008 and Sound Transit would also have the option to extend the deal through 2009.

Sound Transit could end up paying nearly a half a million dollars to the developer, but Sound Transit spokesman Bruce Gray says it would still be cheaper than buying out the property after it had been developed.

The crappy QFC which occupies the lot will, presumably, remain open.

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How are Roosevelt residents going to get to Fife and Mountlake Terrace now???

Posted by jamier | November 9, 2007 6:08 PM

I think the better question is WHY would a Roosevelt resident want to go to either of those places?

Posted by Dustin | November 9, 2007 7:12 PM

Oh, that QFC isn't so bad. Yes, it's small. But it's homey.

Posted by catalina vel-duray | November 9, 2007 7:39 PM

Jonah - How can you be so naive? Pryde+Johnson Development is just like any other developer in this town but wrapped behind a green veneer. Please ride you bike along Ravenna Blvd. towards Greenlake and take a look at the east wall of their brand spanking new condo development. Cheap plywood siding 4 floors in the air. You mean to tell me that fits into the neighborhood? Don't be fooled by the slick marketing. They are laughing all the way to the bank on this QFC site and guess who is footing the bill.

Posted by jj | November 9, 2007 9:15 PM

It takes a lot of space to launch, retrieve, and service a tunnel boring machine. It takes space that doesn't have a row of crappy apartments on top. It also takes space for contractor offices, parking, materials, and equipment storage. Then there's the whole cut-and-cover open pit thing. I think it's safe to say that, compared to buying out the site and demolishing the new construction on it in 2009, it's much cheaper for Sound Transit to pay Pryde + Johnson not to build on it for a while.

Posted by Greg | November 12, 2007 8:29 AM

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