Pacific Place
Panorama of the interior in 2012
LocationSeattle, Washington, U.S.
Coordinates47°36′45″N 122°20′07″W / 47.61250°N 122.33528°W / 47.61250; -122.33528
Opening dateOctober 29, 1998[1]
DeveloperPine Street Group L.L.C.
ManagementAvison Young
OwnerMadison Marquette
ArchitectNBBJ
No. of anchor tenants3
Total retail floor area335,000 square feet (31,100 m2)[2]
No. of floors5
ParkingUnderground parking garage
Websitepacificplaceseattle.com

Pacific Place is an upscale shopping center in downtown Seattle, Washington, United States. Opened on October 29, 1998, it is located at 6th Avenue and Pine Street and has a total area of 335,000 square feet (31,100 m2). It has five floors, the uppermost of which features an 11-screen AMC Theatre (formerly General Cinema) and various restaurants. Pacific Place also features a skybridge that connects it to Seattle's Nordstrom flagship. During the Christmas season, there is an artificial snow display every night at 6 p.m. in the atrium.

On July 14, 2014, Pacific Place was sold for $271 million to Madison Marquette, a Washington, D.C.-based commercial real estate company.[3] In September 2016, Madison Marquette completed the purchase of the Pacific Place parking garage from the city of Seattle for $87 million.[4] A redevelopment of the mall was announced in March 2017 to expand space for shops and remodel the common areas.[5] After over two years of redevelopment, Pacific Placed reopened in June 2020.[6][7] Throughout 2021, small independent shops and art non-profits have utilized vacancy spaces for business and artistic activities.[8]

Madison Marquette announced that it would transfer management of the mall to Avison Young in January 2024.[9]

Scandal

In a 1998 article by Mark Worth, the Seattle Weekly revealed that consultants linked to Pacific Place developer Jeff Rhodes had secured a $47 million low-interest loan to help build a for-profit parking garage beneath the mall. The loan was obtained through the Washington State Housing Finance Commission, a government agency whose mission is to support low-income housing and other needy projects. The parking garage also served a Nordstrom store across the street.[10]

References

  1. ↑ Moriwaki, Lee (October 25, 1998). "Pacific Place -- Will Opening Of Downtown's Newest Shot In The Arm Be Clouded By Recession?". seattletimes.com. The Seattle Times. Archived from the original on March 14, 2023. Retrieved January 6, 2020. Pacific Place, the retail-cinema-restaurant complex that will add glitz and variety to downtown Seattle, opens Thursday (the 29th) at Sixth Avenue and Pine Street.
  2. ↑ "Archived copy" (PDF). Archived from the original (PDF) on April 12, 2007. Retrieved April 4, 2007.{{cite web}}: CS1 maint: archived copy as title (link)
  3. ↑ "Pacific Place mall sold for $271M". The Seattle Times. July 14, 2014. Archived from the original on December 1, 2021. Retrieved December 1, 2021.
  4. ↑ "Seattle sells Pacific Place garage for $87 million, paving way for mall remodel". The Seattle Times. September 29, 2016. Archived from the original on December 1, 2021. Retrieved December 1, 2021.
  5. ↑ Stiles, Marc (March 21, 2017). "Major renovation of Pacific Place will add 'grand entrance' from South Lake Union". Puget Sound Business Journal. Archived from the original on July 26, 2021. Retrieved December 1, 2021.
  6. ↑ Long, Katherine Anne (August 21, 2020). "After lengthy renovation, downtown Seattle's Pacific Place reopens with many vacancies at a difficult time for malls". The Seattle Times. Archived from the original on December 1, 2021. Retrieved December 1, 2021.
  7. ↑ "Malls, stores, and restaurants reopening Saturday around Washington". KOMO News. June 6, 2020. Archived from the original on December 1, 2021. Retrieved December 1, 2021 – via Seattle Post-Intelligencer.
  8. ↑ Vansynghel, Margo (November 24, 2021). "Ghost mall goes indie: Pacific Place gets a new lease on life". Crosscut.com. Archived from the original on December 1, 2021. Retrieved December 1, 2021.
  9. ↑ Thompson, Joey (January 11, 2024). "Deal puts Seattle's Pacific Place mall under new management". Puget Sound Business Journal. Retrieved January 11, 2024.
  10. ↑ "King Street, easy street". October 9, 2006. Archived from the original on May 4, 2016. Retrieved September 2, 2016.


This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.