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Civic Square Project May Have Found a New Developer

Triad Capital Partners has until March 11 to transfer the project to a new developer and Touchstone might be that company.

You may remember the Civic Square development as the centerpiece of the shakedown scandal last year that seemed to sever the relationship between the city of Seattle and Triad Capital Partners. At the time, Seattle mayor Ed Murray deemed the 43-story, mixed-use tower and plaza project dead and initially refused to continue working with Triad. Eight years in the making, it was a long way to go for nothing.

But them, the city extended the deadline for Triad to transfer the rights to develop the site to March 11. Now it sounds like Seattle-based developer Touchstone is next in line to take over the project.

Seattle Mayor Ed Murray's office said in a press release that the Seattle-based firm has "joined the conversation to help the city determine the future of the Civic Square project."

There is no final transfer agreement yet, but Murray said in a statement that "promising discussions with Touchstone last week give us reason to allow further dialogue to determine a path forward."

Construction on the project was supposed to have begun in 2016 before all the drama. Bounded by Third and Fourth avenues and Cherry and James streets, Civic Square is the last remaining portion of a 1999 civic center master plan for a campus that includes City Hall, the Justice Center, and Seattle Municipal Tower. It was stalled in 2007 due to the recession but finally seems like it's ready to be built, you know, assuming this happens.
· City says Touchstone has joined the ‘conversation' about Civic Square [DJC]
· Civic Square Development Back in Limbo Following Shakedown [CS]
· Touchstone in line to develop Seattle's big Civic Square project [PSBJ]