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Third & Virginia Lot Purchased For $17.7M, Apartment Tower Planned

The British Columbia Investment Management Corp. has big plans for a half-acre lot on the corner of Third Avenue and Virginia Street downtown. The group recently paid $17.75M for the land and have plans to build a 400-foot apartment tower on it. The seller, Investco, originally planned to build a 43-story hotel and residential tower on the spot but it never came to fruition. Someway, somehow, someone is going to build a tower here...
· Canadian group buys development site in downtown Seattle [PSBJ]