Construction on a new residential tower in Seattle, located near Pike Place Market, has been put on hold due to concerns about crime in the area. The developer of the project, Plus Investment (USA), has decided not to move forward with the 46-story building at 1516 Second Avenue. According to Kevin Corbett, CEO of Plus Investment (USA), there are ongoing public safety issues in the neighborhood that have caused them to pause construction.
In an interview with Puget Sound Business Journal , Corbett stated that he does not foresee vertical progress being made anytime soon due to these concerns. He also mentioned that open-air drug markets can be seen day and night on Second and Third Avenue and believes there needs to be stronger enforcement against these illegal activities before any significant development can take place.
The proposed plans for this project include a total of 518 units within an apartment building featuring retail space and below-grade parking spots. The design for this development was created by Hewitt Seattle.
Overall, until there is more action taken towards addressing crime in the area surrounding Pike Place Market, it is unlikely that any major commercial developments will occur downtown.
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