City Sound Transit Pays Big Bucks to Halt Development
posted by November 9 at 17:17 PMon
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.