Construction on the long-vacant lot at 23rd and Union could finally start this spring, now that real estate development company Lake Union Partners has purchased the land from former owner Ian Eisenberg.
Puget Sound Business Journal broke the story late last week, reporting that Lake Union Partners paid $3.8 million for the lot. The new owners are hoping to break ground this spring on a previously designed building with 92 apartments, 74 underground parking stalls, and 4,000 square feet of retail space. Lake Union Partners is also planning to develop a lot at the corner of 24th and Union, where they hope to build an approximately 40-unit building.
We previously reported that Eisenberg planned to develop the land in partnership with Lake Union Partners, with a timeline of breaking ground in August 2013 and opening in fall 2014. But that timeline was delayed, and Eisenberg eventually decided to sell the land.
The lot was the former home of the Coleman Building, which was damaged in the 2001 Nisqually Earthquake and subsequently demolished.