Quote:
Originally Posted by maccoinnich
In the medium term I suspect the DoubleTree is a major redevelopment opportunity. It's very tired looking inside and in need of substantial investment, especially now that it's competing with the Hyatt Regency. According to the county, its market value is only $35 million, which I'd imagine puts it below the value of the land given that it's located on four city blocks.
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Wow. That never occurred to me.
Nearly 25 years ago, the city pushed owners of the blocks on both sides of SW Jefferson between 10th and 11th on to sell together. This got the "new" Safeway on 10th & Jefferson built across the street from the old one (the "Psycho Safeway," for those who remember). The old Safeway was demolished and Eliot Tower was built in its place. It was a major catalyst for that section of downtown.
Could you imagine if Lloyd Center, the Doubletree and the Regal Cinemas lot could be sold and redeveloped together? Level it all. Reconnect the streets. Build a neighborhood around Holladay Park. Level the nonsense across the street from Lloyd Center too, along NE Weidler, where Pier 1 used to be. That's another 4 blocks, wasted.
The whole area is crying out for redevelopment, and the potential is incredible... but so much of it is 🞵🞵🞵🞵 🞵🞵 in the mall, including litigation that keeps everything at a standstill. It's somewhere around what, 37 city blocks?
...sigh.