May 12, 2016

Seattle ‘exploring other options’ on Civic Square

Seattle Mayor Ed Murray said the city is “exploring other options” for the Civic Square site because the developer, Touchstone, has been unable to get financing for a long-planned project there.

Triad Development was chosen by the city in 2007 to develop Civic Square, but in March Triad asked to transfer its interest in the project to Touchstone.

That came after Murray announced last fall that the city would shelve its agreement with Triad after allegations surfaced that a Triad employee attempted to coerce a Seattle City Council candidate, Jon Grant, into settling a lawsuit against the developer that was related to the project.

The city gave Touchstone 60 days to find the right mix of office, residential and commercial space that would make the project appealing to investors. That deadline was yesterday.

“I appreciate Touchstone’s efforts over the last two months. Unfortunately, no parties have been willing to commit capital to finance the project,” Murray said in a statement. “As we look forward, we will need to diligently assess whether the project as designed is viable or whether adjustments are needed.”

Seattle-based GGLO and the British firm Foster + Partners are the architects, and Skanska USA Building is the general contractor.

The current plan calls for a 43-story tower with office, housing and retail. The city also wanted a public plaza on the site.

Fred Podesta, Seattle’s Finance and Administrative Services director, said in a statement that the city will not be discussing contract issues.