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Real Estate

Brian Miller
Real Estate Editor
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June 4, 2020

On the Block: How, after years of planning, an entitled apartment tower site in SLU came back on the market

The Seattle Times reported last weekend that its landlord, H5 Capital, has sued Onni Group in federal court for backing out of a deal to buy 121 Boren Ave. N. in South Lake Union. That's the vacant former 13 Coins restaurant site, for which VIA Architecture has designed a 41-story, 432-unit residential tower. The plan received its master use permit in early 2019. The property went on the market in 2018.

Directly east of the site, on land it acquired from the Times several years ago, Onni is now building two residential high rises and planning two office towers. During the past two years, it's also invested $195 million for big sites in Belltown — now under construction — and downtown Bellevue (still in planning).

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