PacMed on the auction block

The historic PacMed building. Photo by Erick Mota in the Beacon Hill Blog photo pool on Flickr. Thanks, Erick!
Grab your pocketbooks and warm up those credit cards: the Seattle Times reports that the landmark PacMed building on the north tip of Beacon Hill, one-time home to Amazon.com, is going up for auction. But it’s not on eBay, and the starting bid may be a little rich for the average Beaconian’s blood: $2 million.

According to the Times, the holders of the building’s loan, Wright Runstad, have put the loan up for bids at Auction.com, a site that specializes in real estate auctions both online and live. A new owner of the loan might move to foreclose, or to renegotiate the $20.5 million outstanding debt on the building.

Wright Runstad has been unable to find a tenant to replace Amazon. The building was considered for a new King County juvenile court and jail last year, and City University also considered relocating to the historic building, but both plans fell through.

The auction will start at 10 a.m. on April 16.

Station banners to return soon

(Editor’s note: This post was scheduled to go live on the morning of April 2 but due to a software error, did not actually publish. Sorry for the delay.)

On March 10, 2011, one of the metal banner artworks installed on the plaza at Beacon Hill Station collapsed in a windstorm. Luckily, no one was hurt when the metal banner and pole hit the ground, but all three of the banner poles were removed as soon as possible after the collapse. It’s been more than a year, and Beacon Hill community members were beginning to wonder if the colorful banners were history.

We checked with Sound Transit spokesman Bruce Gray last week, who gave us reassuring news: “The short answer to your question is yes, the flags are returning after a thorough refurbishing. Should be back up this spring.”

The flags are part of a larger work at the station by artist Carl Smool, Community Threads, which includes etched textile “carpets” in the plaza’s walkway and on a cut-metal louver on the outside north wall of the station building as well as the three cut-metal banners that flew above the plaza until the windstorm last year.

Sound Transit security staff look at the fallen art banner at Beacon Hill Station, March 10, 2011. Photo by Wendi Dunlap/Beacon Hill Blog.