SEATTLE – A San Francisco firm closed a multimillion dollar deal last week on a valuable piece of property south of Safeco Field.
Valiant Partners, of San Francisco, completed a deal with a Seattle businessman on December 6 to purchase a little more than three acres just south of the Safeco Field parking garage for $21.6 million. That's almost $3 million more than the assessed value.
It comes as a well-placed source acknowledged a developer had approached the city about constructing an arena south of downtown near the two stadiums.
Some smoke. Not enough for me personally to call fire. 3 acres by itself is not a large enough parcel to build an arena. I saw someone mention the Pepsi Center in the last thread ... having been there just a few months ago I can attest the building itself is about that size (3-4 acres) but the surrounding area including parking lots etc is vast, probably almost 50 acres or so. Not that they'd have to use the Pepsi Center blueprint mind you, but they are going to need more parcels of land than just this one. This "Seattle businessman" could just be someone with enough capital to acquire this piece of property with the intent of flipping it in the near future.
Nobody's talking Seattle Center for a prospective arena location. That's probably wise.