Since Velo Bike Shop pedaled off Capitol Hill to Belltown in March, the 8,000 square feet of prime real estate at 11th and Pine remains empty.
Will Nelson, who’s managing the space with property owners Legacy Companies, said he is working out lease terms with a tenant in a deal that could break any day, but declined to drop any hints.
A construction permit was filed with DPD that describes a “change of use from retail to bar/restaurant” in the Velo space. Nelson said he could not comment until a lease was signed. For now, the first floor of the 1906-built structure remains tenant-less.
Meanwhile, 11th Ave continues its pace as CHS’s most rumor-filled street lately — this fall, we reported on a telephone survey that sparked rumors of a grocery store on the Pike/Pine street near Cal Anderson.
Across the street, this mixed-use preservation and development project is set to add additional retail and restaurant space to 11th Ave — as well as new residents living at this edge of the Pike/Pine nightlife area.
Above the fray, the Stranger continues to operate out of the top two floors of the building. Nelson said the alt-weekly staff will be staying in the building for the foreseeable future — we’ve been told “Seattle’s only newspaper” is in the midst of a long-term lease. There was buzz recently about work crews spotted outside the Stranger offices, but Nelson said the work was general maintenance to fix a leaky roof and repair old windows.
“The Stranger had 20 receptacles to catch water at one point,” Nelson said. “It’s just long overdue work.”
Nelson is also shopping around a “creative space” in the basement of 1021 E Pine.
Legacy also owns the Value Village building next door. Legacy owner Tom Ellison also owns the Value Village company.