Mar 28 2008
Lucky condos owners could get 2.5 there value
Children’s Hospital in Seattle is looking into expanding in Seattle or the Bellevue area. The only problem is land is not available, so what the solution. The solution is buy a condominium complex and potentially use the site for the expansion. But how do you get those condo owners to sell their condos. Well you offer them 2.5 times the value of their condos. That’s what happened to the owners of the Laurelhurst condominium complex. The Seattle PI had an excellent article following this offer.
The other option is to use a site that is located in the overlake area and zoned for up to 125 foot buildings and currently contains a former Group Health hospital.
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