SEATTLE - Investor Chris Hansen has locked up more land in his quest to build a new Seattle arena.
Records show Hansen's WSA Properties LLC, closed Tuesday on the .48 acre piece of land at 1700 1st Avenue South, where the Showbox SODO currently sits. Hansen's purchase price: $8 million.
The Showbox Sodo posted on its Facebook page: “Today, an announcement was made regarding the sale of the property at 1700 1st Avenue South to Chris Hansen and his investment group. AEG Live has a lease through 2017 for the building and will continue to operate as Showbox SoDo. All events will go on as scheduled. Thanks for your past and future support.”
A source says the latest purchase means that Hansen now controls all the land needed to build an NBA/NHL arena, and possibly an additional parking garage. He has now acquired close to $49 million in land, just south of Safeco Field.
The investment is a gamble. Hansen has yet to get approval from the City to construct a $490 million dollar building on the land he’s now purchased. He’s asking Seattle and King County to bond up to $200 million of the cost. The County Council has already approved his plan, with amendments. The City Council is believed to be considering an amended proposal, and could take up legislation as early as next week.