Unlikely: PacMed to go condo

From the PSBJ, Amazon building up for lease in 2010:

The 16-story Art Deco building, which has sweeping views of the city and Elliott Bay, also has been seen by some as a potential candidate for conversion into condominiums. But any condominium buyers would own their units subject to the terms of the ground lease. While such agreements are more common in Hawaii, they are highly unusual here, Johnson said.

Speaking of Amazon… My friends at the company tell me that it is sounding likely they’ll be moving to SLU; lots of rumors of finding printouts left by the printer indicating such.

Photo: from Matthewk on Flickr

About Matt Goyer

I love condos, lofts, floating homes, new construction and mid-century moderns so much so that since starting this blog in 2006 I've written over 2,000 blog posts about them!

For years I resisted becoming a real estate agent preferring to be a marketing executive at Redfin but after leaving Redfin (after seven years!) I caved in the spring of 2014 and became a broker. So if you need help finding that "Urbnlivn-style" place or selling your home email me at matt@urbnlivn.com, I'd be happy to help you.

Prior to Urbnlivn and Redfin, I worked at Microsoft after graduating from the University of Waterloo with a Bachelor of Mathematics with a major in computer science.

You can also find me on Twitter, @MattGoyer, or LinkedIn.

  • http://www.2200life.blogspot.com EconE

    I’ve always thought that was a fascinating building! albeit in a creepy kind of way. You know…like the feeling that the house from ‘Psycho’ or some movie with some creepy old hospital up on a hill…oh…wait…it is a creepy old hospital up on a hill.

    Maybe we should have a list of places that should and shouldn’t be turned into condos. Old storage facilities and firehouses are cool but where do we draw the line.

    For the no vote I’d nominate places like

    Prisons
    Abandoned military installations
    Mausoleums
    Hospitals

    Maybe the Church of Scientology would be interested?

  • http://www.2200life.blogspot.com EconE

    I’ve always thought that was a fascinating building! albeit in a creepy kind of way. You know…like the feeling that the house from ‘Psycho’ or some movie with some creepy old hospital up on a hill…oh…wait…it is a creepy old hospital up on a hill.

    Maybe we should have a list of places that should and shouldn’t be turned into condos. Old storage facilities and firehouses are cool but where do we draw the line.

    For the no vote I’d nominate places like

    Prisons
    Abandoned military installations
    Mausoleums
    Hospitals

    Maybe the Church of Scientology would be interested?

  • CG

    This is why I love EconE.

  • CG

    This is why I love EconE.

  • Katie

    Good lord, if one could justify lusting after a building…yup, this would be it for me

  • Katie

    Good lord, if one could justify lusting after a building…yup, this would be it for me

  • Bob

    PacMed looks a little bit like the MI6 hq.

  • Bob

    PacMed looks a little bit like the MI6 hq.

  • newbuyer

    The lighting on that building is amazing. I swear there are probably plenty of ghosts roaming those halls at night. Creepy and a little bit cool. But condos? No way.

  • newbuyer

    The lighting on that building is amazing. I swear there are probably plenty of ghosts roaming those halls at night. Creepy and a little bit cool. But condos? No way.

  • tomasyalba

    It’ll be nice to have Amazon out of that building. Their presence there is a reminder to the longtime Seattle taxpayer that we paid for the rehab of the building assuming it would remain a public facility, then Mayor Schell gave it away.

    Bet Amazon is still trying to drive down the rental rates and shorten the lease terms in SLU before signing, hedging their bets in case consumer spending drops.

    I remember they announced a big plan to build an expansion near the Beacon Hill campus, but dropped it in 2001 when they had to lay off so many workers they didn’t need the room. Amazon corporate feels flush now, but hasn’t forgotten how quickly their business goes sideways now and then.

  • tomasyalba

    It’ll be nice to have Amazon out of that building. Their presence there is a reminder to the longtime Seattle taxpayer that we paid for the rehab of the building assuming it would remain a public facility, then Mayor Schell gave it away.

    Bet Amazon is still trying to drive down the rental rates and shorten the lease terms in SLU before signing, hedging their bets in case consumer spending drops.

    I remember they announced a big plan to build an expansion near the Beacon Hill campus, but dropped it in 2001 when they had to lay off so many workers they didn’t need the room. Amazon corporate feels flush now, but hasn’t forgotten how quickly their business goes sideways now and then.

  • Matthew

    Is there any type of building people aren’t interested in converting into condos?

  • Matthew

    Is there any type of building people aren’t interested in converting into condos?