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January 11, 2023

Capitol Hill corner in play

By JOURNAL STAFF

SEATTLE — Boarded up and derelict, the vacant old commercial building at 1550 E. Olive Way has become an eyesore and potential arson magnet — there was a five in 2017. The city cited it last month for violating vacant building standards. The property, on the corner of East Denny Way, isn't publicly listed for sale.

But Capitol Hill Seattle blog reported this week that there's a deal in place to sell. The longtime family owner signed a purchase and sale agreement in November with Guntower Capital, which is associated with the Razore family, Skip Slavin, Chris Langer and other experienced local investors. The agreement expires in April of next year, by which time design review might be accomplished. A master use permit would likely take a little longer.


 
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