Arena investor reportedly hits property snag with SoDo strip club
Jul 18, 2012, 6:07 PM | Updated: Jul 19, 2012, 9:00 am
Reports have surfaced that suggest arena investor Chris
Hansen might have hit a snag in his plans for building his
arena in SoDo.
Publicola reports the owners of the Deja
Vu/ Dreamgirls strip club have refused to sell their
property to Hansen.
The investor is reportedly trying to buy up property near
his proposed arena site.
King County valued the strip club’s property at $3.5
million. A Dreamgirls spokesman told Publicola they’re
happy in their location and have no plans to move.
Previously, Hansen picked up two lots, at 1548 and 1556
1st Avenue South, reportedly paying $9,450,000 for the
property. He has spent more than $35 million on land in
the SoDo district.
The arena project calls for about $290 million in private
investment from Hansen’s group, along with $200 million
from the city and county through 30-year bonds. Both the
Seattle City Council and the King County Council are
reviewing the proposal.
All construction costs, including overruns, would be paid
for by Hansen’s group, which includes Microsoft CEO Steve
Ballmer and the Nordstrom brothers.
