(2011 WSB photo of ‘The Hole’)
Once Trader Joe’s opened on the northeast corner of 39th/Fauntleroy/Alaska, the “what will we all talk about NOW?” attention turned, for some, to the northwest side of the intersection, home to “The Hole,” the project known as Fauntleroy Place when it was excavated and then entangled in a court fight. That battle ended with a settlement that resulted in a foreclosure auction last October, with 3922 SW Alaska LLC as the only bidder – an entity of Madison Development. Since then, though, nary a word about what Madison – which recently completed the Element 42 apartments east of Admiral Safeway – intends to do with “The Hole.”
For quite some time, we tried to find out through the PR agency that had been speaking for Madison. They said they’d see what they could find out – but no updates ensued. Finally today, while working on various followups, we tried contacting Madison’s Tom Lee directly. His reply was short, but full of promise:
We are still working very hard on the project and hope to have an update for you soon.
As for the site’s DPD file, the only even-remotely-recent activity has been a renewal of permits in late March.