The shuffling around the core where Pike/Pine meets Broadway has reached a fever pitch.
With rumors circulating that the coffee shop is about to close, CHS can now report that the building home to Tully’s Coffee is about to see some major new investment as Craig Swanson of Redside Partners has purchased the old Broadway State Bank building for $1.45 million with plans to overhaul the space and bring in a new tenant.
Swanson confirmed the deal but would not comment on potential new tenants at this time.
CHS reported in August that Capitol Cider was preparing to take over the former art gallery neighboring the Tully’s. Capitol Cider’s lease for the space is now signed, owner Spencer Reilly told CHS via email last week. Who will neighbor the cider hall in the future we’ll, for now, leave to social media conjecture.
The 1913 building has had a colorful history at this intersection of local commerce. This CHS post documents the early history of the building from bank to coffee house to, well, coffee house.
The old architect’s plans for the Broadway State Bank mashed-up with present-day Pike at Broadway. More on the building’s history, here.
Redside’s work in the neighborhood continues. The real estate investment firm’s recent projects include the overhaul of the old Jade Pagoda on north Broadway that will soon becomeLinda Derschang’s new Bait Shop.
Whatever comes next for the building will enjoy a changing Pike/Pine and renewed Broadway nightlife in the area. It will also enjoy easy access to the area’s latest investment in public transit. When the First Hill street streetcar comes online in 2014, riders will enjoy a stop at Pike and Broadway directly in front of the building.