We told you there was news coming. We told you Chris Hansen was "still here, still working." We can now report that Hansen has purchased another 4.88 acres of land in SODO, reaffirming his commitment to the Sonics Arena project.
The land is a strip consisting of two parcels stretching from Holgate Street to Walker Street. Hansen and his group, WSA Properties, paid $32 million for the land, three times its assessed value. This is the same land that Hansen purchased an option on back in 2014. Why he decided to act on the option now is still uncertain, but it seems to indicate a possible renewed confidence in getting an arena deal done. One source told KING 5 that "This is still all about the Sonics." The plan was, and by all indications still is, to use that stretch of land to build a parking garage. Hansen now owns 12.26 acres - over 534,000 square feet - in SODO, land that he has spent nearly $100 million on.
It would seem that owning that much land in the area would help him earn a seat at a meeting of the newly formed "Industrial Lands Advisory Panel," which Mayor Ed Murray created last month. The purpose of the panel is to determine what to do long-term with industrial areas in Ballard and, yes, SODO.
Some of the current issues in the area include the Lander Street Overpass - which received $45 million in federal grants but is still short of being fully funded - and Terminal 46, which saw a major setback last month when Hanjin Shipping - the Northwest Seaport Alliance's biggest customer - declared bankruptcy.
Included on the panel is Seattle City Councilman Rob Johnson, who voted in favor of the Occidental Avenue street vacation. When told of Hansen's latest purchase, he told KING 5 it was "news to me" but added that he "hope[s] this is one of the items we'll discuss." Johnson believes the panel could revisit the "Stadium District Complex" and asked the one question we are all asking; "Can we find any sort of way to say this (arena) can work or is it clearly not going to happen?"
Hansen's next move isn't entirely clear, but we do know he will have to reapply for street vacation if he wants to get the deal done. When that may happen, or what may change in order to try and flip at least one vote, remains unknown.
All of this news was first reported by KING 5's Chris Daniels, who joined Paul Rogers on the Sin Bin podcast to discuss all the latest details. You can listen to that below.
UPDATE 7:55 pm
Bill Vipond, a real estate consultant for Hansen, told the Seattle Times' Mike Rosenburg that the City Council's vote didn't "thwart our efforts."
"I’ve never gotten any direction (from Hansen) other than full steam ahead, we’re bringing the Sonics back," Vipond said. "The general directive is, ‘Let’s go, let’s get the Sonics back, let’s keep working on getting the team.’ "
He also thinks that one of the City Council's issues with the street vacation was a lack of parking for the arena, and that making this purchase official can take care of that concern. "I think it could cure the parking riddle down there, or at least put a huge dent in it."
Ed note: A previous version of this story incorrectly labeled Rob Johnson as the head of the Industrial Lands Advisory Panel.
Comments
Finally some good news
I am happy to hear there is still life in the project. I’m sure the city council will try and rip my heart out soon enough.
By rtallmadge on 09.22.16 7:21pm
Feels good to know
There is progress. Lander Overpass has progress, council held a meeting on SODO development in August and the NBA is putting systems in place to really help with player development to help with talent gaps.
By rcshea17 on 09.22.16 7:39pm
Money speaks louder than words
Which is a very good thing because Hansen has been a man of few words since the council voted down the vacation.
In other news, Kevin Johnson punched out some pie throwing guy that was upset with Johnson’s arena efforts.
By Ultrasonics on 09.22.16 8:02pm
I'm Sure The Port...
… will whinge about how Hansen is taking away the trucks’ parking options.
By MartinHughes on 09.22.16 8:46pm
I think the port has more things to worry about than the arena now.
With the South Korean shipping company declaring bankruptcy.
By gstommylee on 09.22.16 9:11pm
If the Port is losing business then why are we spending millions on the Lander St. overpass?
I certainly hope the Port survives and thrives. But if global economics shifts are impacting its business, or threatening its survival, then why are we building the overpass?
By TheTrialist on 09.23.16 8:40am
Cause it's still needed
Given with the increase of trains going through the area.
By gstommylee on 09.23.16 10:16am
As someone who has to travel through SoDo daily
This is a necessary improvement for all of the traffic through the area. The Port benefits the most, but anything to reduce the lines of traffic backed up by the trains is beneficial.
By Matt Tucker on 09.23.16 2:03pm
And improving safety of cars and people
Prior to the train crossing being removed and an underpass built at the BNFS tracks in tukwila, My mother and my self had a close call when a Semi went through when the gates were coming down. If that semi didn’t clear it in time, it would been hit by the train and our car probably could been a casualty of the semi being hit.
By gstommylee on 09.23.16 3:18pm
ST weighs in
and it’s not Geoff Baker
http://www.seattletimes.com/sports/nba/sonics-arena-plan-still-full-steam-ahead-as-chris-hansen-buys-32-million-site-in-sodo
By Taylor Bartle on 09.22.16 7:44pm
Was wondering why it seemed different in tone
when i realized it wasn’t Gbaker
By gstommylee on 09.22.16 7:49pm
You can't keep your options open unless you exercise your options
Whether Hansen can put an arena there or not, God ain’t making more land. Good for him and his well-capitalized investors. Here’s hoping he can parlay it into a beautiful place for basketball and hockey, or at least a bowling alley (I think the dimensions would work).
By insideachinesedragon on 09.22.16 8:05pm
That's inside the Stadium District
He can develop that either way.
He is also not under pressure to find some other use for the property if there isn’t an arena, so true, they are not making more land.
By Mike Baker on 09.22.16 8:15pm
…
http://www.bizjournals.com/seattle/news/2016/09/22/chris-hansen-spends-32m-for-sodo-sites-signals-he.html
By Mike Baker on 09.22.16 8:11pm
They fail to mention his Seattle roots
They reference him as a California Entrepreneur and a San Francisco Hedge Fund Manager, but never mention that he is a Seattle native. Not the friendliest approach to the story.
By cortone on 09.23.16 8:37am
Meanwhile, In Sacramento...
… Kevin Johnson continues to be the gift that keeps on giving.
Dude pies KJ in the face, KJ gives him stitches
By MartinHughes on 09.22.16 8:47pm
Thanks for the update and the interview with CD5
By Jeff - j1012 on 09.23.16 6:34am
Maybe this is the nudge . . .
. . . that finally gets this all moving to completion.
Maybe this flips a SCC vote? Maybe this combined with a Lander donation?
A parking garage may be key!!! Remember – Sacramento saved their team with PARKING – it always comes back to PARKING. Connect the dots! We are through the looking glass, people.
By BellevueCoug on 09.23.16 8:15am
Great job on the podcast Paul with cd5
I just wish you could have hit on a question about what if anything is going on with the ackerleys but other than that it was a great listen.
By hughc5 on 09.23.16 8:30am
So, any thoughts about the NBA actually expanding or allowing a team to be moved to Seattle?
By TheTrialist on 09.23.16 8:41am
Ask Kevin?
By Jeff - j1012 on 09.23.16 9:25am
Like I know something
Or do I?
By Kevin Nesgoda on 09.23.16 6:27pm
You know two things
By Taylor Bartle on 09.23.16 6:32pm
I miss Jack
By Kevin Nesgoda on 09.23.16 6:37pm
Evil dead meme always fit regardless of the conversation
By gstommylee on 09.23.16 6:44pm