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Downtown Parking Lot Sells For $16.75M To Hotel Company

If you didn't already know that hotels are the hot property in Seattle at the moment, be convinced by the news that a hotel company just paid $16.75M for a downtown parking lot. The buyer, Stanford Hotels Corp., purchased the one-third acre site at 1903 Fifth Ave. across the street from the Westin. They haven't said what their plans are just yet, but the fact that they're a hotel company might give things away just a wee bit. Stanford already has one Seattle hotel project in the making, a 283-room property right in the middle of Amazon.com's 11-building headquarters.
· Hotel group buying downtown Seattle parking lot $16.75M [PSBJ]
· Eight Upcoming Projects Affected By South Lake Union Rezone [Curbed Seattle]