The public authority that owns the building, the Pacific Hospital Preservation and Development Authority, proposed a 30-year lease that would require the state to provide $250,000 in exchange for 60 more days to conduct due diligence evaluation of the building’s condition. The state would prefer 90 days to conduct its due diligence.
The PDA’s governing council has said that if the state did not agree to this lease by Monday evening, they would turn to “other lease alternatives.” The other lease offer on the table is from Lennar, a Miami-based homebuilder that offers a 75-year lease with $25 million in improvements to create 165 market-rate one- and two- bedroom apartments, a gym, and a dining lounge.
The Seattle Central Community College plan, funded with $20 million approved by the Legislature, would use 85,000 square feet for health-training programs, including a new Bachelor of Nursing degree. Non-profit groups focusing on community health would take up the remaining floors of the building.
Funds from renting the PacMed building are used for the PDA’s mission, which is to “champion effective health care for the vulnerable and disadvantaged in our community.” The PDA plans to meet at 9 a.m. Tuesday, July 30, to discuss their next steps.
Added 11:21 p.m.: If you want to let the Pacific Hospital Preservation and Development Authority know your thoughts on the current situation, contact Rosemary Aragon, the Executive Director of the PDA at firstname.lastname@example.org or by mail to 1200 12th Ave. S, Quarters 2, Seattle, WA 98144. She will forward your letters to the members of the Board.