As much as we value local, independent and small, the Target chain of stores is a consistent entrant in the “what Capitol Hill needs” Olympics. In a study commissioned in 2008 by the Capitol Hill Chamber of Commerce, survey respondents living on the Hill cited Northgate as an area of Seattle they visit most often for off-Hill shopping needs. The presumption is the mall is the big draw — but don’t dismiss the Target effect.
The national discount department-store chain has bought the three-story office and retail space at the base of the 24-story Newmark condo tower on Second Avenue between Pike and Union streets.
The 103,000-square-foot commercial space, known since 2008 as Pike Plaza, will be home to a smaller-format Target store, the seller, Seattle-based HAL Real Estate, said in a prepared statement.
Target paid $15.5 million for the property, according to county records. The purchase includes a 250-stall garage.
While Hill residents might pine for a large retailer like Target, they don’t necessarily want it in the neighborhood. Sound Transit’s survey of community desires for the development of the light rail station on Broadway contains a few resident-submitted references to Target, each noting the utility of the chain and each noting that a large store wouldn’t fit the nature of Capitol Hill.
Last year, a major redevelopment of the Goodwill site on Jackson that was to include a Target store fell through and was canceled. The company has also recently come under fire for its support of an anti-gay marriage Minnesota gubernatorial candidate.
While the new store will please many central Seattle shoppers, the downtown opening could mean the elimination of one potential tenant for the Joule retail space on Broadway where the smaller format Target reportedly planned for downtown might make a suitable anchor tenant for the development.