As trains swiftly carry thousands of passengers through Capitol Hill’s subway station every day, the process to develop the area above ground continues to inch forward.
Next week, the Sound Transit Board is expected to approve a sale agreement for one parcel, known as Site B-North. The vote during the July 28th meeting will pave the way for Capitol Hill Housing to start designing and building an 86-unit affordable housing project. In August, the board is expected to approve land leases for the three other sites so developer Gerding Edlen can move forward with its plan to build 100,000 square feet of commercial, housing, and community space.
Sound Transit has not yet publicly released the lease agreements or the preliminary agreements signed earlier this month, saying that it may compromise negotiations with other developers should the Gerding deal fall through. The agency, which purchased the Broadway sites between E Denny Way and E John and demolished them in 2009 to build the underground station, has previously said the parcels were worth around $25 million and that Gerding was aiming for a 75-year deal to lease the properties.
Members of the Capitol Hill Champion group have been planning and anticipating the milestone for years after helping to forge a development agreement that included community benefits like space for a farmers market and affordable housing. “It’s exciting we’re finally getting to this point,” said Champion co-chair Brie Gyncild Continue reading