Starwood Capital Group, the entity that owns the hole on 2nd Ave and Pine Street where 1 Hotel and Residences was slated to stand, is filling that hole in starting next week.
Originally intending to build a luxury hotel and condominium building there, Starwood is putting that project on hold until the lending market stabalizes. They will retain ownership of the land and keep the property looking good until the time is right to realize their investment goals of building a world-class building here in Seattle.
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