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Plans To Turn Eitel Building Into Boutique Hotel Scrapped

The Eitel Building. Located at 1501 Second Avenue, it evokes many different emotions. Designated a Seattle landmark in 2006, it has been described as an eyesore by many others, especially now that it has become vacant except for street-level retail. And so, plans for an 80-room hotel earlier this year were met with approval by just about everyone. However those plans have been dashed by the developer.

Ariel Development's Shimon Mizrahi told Biz Journal that "the cost of the property was too high for what had to be done to turn the building."

Meanwhile, Denver developer Stonebridge filed plans to build an 18-story, 252-room hotel at 1903 Fifth Ave. in downtown Seattle. We win one, we lose one.

· One Seattle hotel plan spiked, one hotel planned [PSBJ]
· Historic Pike Place building could become hotel [PSBJ]