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Real Estate


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April 27, 2009

Parts of key downtown property in foreclosure

By LYNN PORTER
Journal Real Estate Editor

Image courtesy Ismael Leyva Architects [enlarge]
This project, called Pagoda and Heron, was planned for the site on Fifth Avenue. It includes 400 condos, a hotel, office and retail space.

About half of a downtown Seattle development site where a New York firm has planned a $500 million mixed-use project is being foreclosed on because the borrower is in default on a loan for the property, public records show.


 
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