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Originally published June 6, 2009 at 12:00 AM | Page modified June 6, 2009 at 9:34 AM

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Condo developer puts Denny Triangle property up for sale

The Denny Triangle site for a proposed 400-foot-tall hotel and condo tower is for sale.

Seattle Times business reporter

A developer who proposed a 400-foot-tall hotel and condo tower in Seattle's Denny Triangle less than two years ago put the property up for sale this week.

The site, a quarter-acre parking lot at Minor Avenue and Stewart Street, is listed for $3.995 million.

"Owner wants this property sold fast ... " the listing flier says.

Representatives of owner GIS International of Bellevue could not be reached for comment Friday.

In October 2007, architects for GIS presented to a city design-review board their preliminary plans for a 25-story tower with 180 loft-style condos, 132 hotel rooms, 4,800 square feet of retail space and underground parking.

But the developer did not pursue permits, city records indicate. And the project encountered complications last year when city planners approved a 440-foot apartment tower next door.

City rules for the area ban towers that tall so close together.

The sale listing says "serious design work" also has been completed for a seven-story apartment building on the site.

Another GIS project, a 16-story luxury condo building in downtown Bellevue called European Tower, has been on hold for more than a year.

Eric Pryne: 206-464-2231 or epryne@seattletimes.com

Copyright © 2009 The Seattle Times Company

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