Seattle arena investor acquires more land in SoDo area
Jun 18, 2012, 6:42 AM | Updated: 7:51 am
Proposed Seattle arena investor Chris Hansen has closed a deal for more land in Seattle’s SoDo area.
Northwest Cable News reports Hansen has picked up two lots, at 1548 and 1556 1st Avenue South. Hansen reportedly paid $9,450,000 for the two lots.
Hansen has now spent more than $35 million on land in the SoDo district.
“When we looked at a lot of the other potential sites, we thought this one was the best,” said Hansen in a previous interview with 97.3 KIRO FM.
Hansen is asking supporters to pressure the Seattle City Council and the King County Council to approve his plan for the arena.
The 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.
All construction costs, including overruns, would be paid for by Hansen’s group, along with all environmental studies and permitting.
The public investment is capped at $200 million and would come from taxes and revenues generated through the new facility.
The Associated Press contributed to this report.
