Second time’s the charm? Sale ordered again, for ‘The Hole’

(WSB photo of ‘The Hole,’ May 2011)
When we first reported back in June about a settlement ending the legal battle over “The Hole” — the excavated-then-stalled development site at 39th/Alaska, once known as Fauntleroy Place — we noted that the court case was technically kept open for one last matter to be overseen by Superior Court Judge Susan Craighead — the foreclosure sale of the property.

Today, court documents were filed to officially order that sale.

No date yet. Earlier this year, a sale date was briefly in place, till the entity that has hoped to take over the site – 3922 SW Alaska LLC, a spinoff of Madison Development – got the sale postponed by putting up a bond. In the meantime, the judge suggested mediation and that finally led to a settlement. Full details of that settlement have yet to publicly surface, but bits and pieces of it keep turning up in the online files. Here’s what we reported in June; since then, nothing much except an “order to disburse funds” in late July. We have been watching the files closely, and now we’ll be watching for a sale date. Results of that sale will determine what happens next with the site, once slated for a mixed-use development including residential units and a Whole Foods Market and Hancock Fabrics store.

10 Replies to "Second time's the charm? Sale ordered again, for 'The Hole'"

  • shocka August 13, 2011 (9:15 am)

    Holeeeeeeee Crap!

  • Robin Levin August 13, 2011 (3:53 pm)

    Can we puhleeeeeze have our Hancock Fabrics back?

  • Alki Area August 13, 2011 (4:26 pm)

    Holeee legal tangle Batman!

  • Jiggers August 13, 2011 (4:30 pm)

    It maybe there ten plus years folks…lmaoff! Just look at how deep that hole really goes down? That is a lot of earth removed. That’s a huge problem for another business even if they wanted that square footage. I know there are a dozen of other reasons for that Hole to remain the Hole though. So what is the actual selling price now that they are to sell it at? It has to be a steal deal. Multi use property is the only way for it to be viable.

  • NotMe August 14, 2011 (12:07 am)

    No. We can not have Hancock Fabrics come back. There is a hole there so stop asking.

  • neighbor August 14, 2011 (8:28 am)

    The Department of Planning and Development allowed this hole to be dug, monitored the digging knowing that the excavation was and is not supported by the building height code. Now we know why they want to increase heights in the Triangle.

  • Wsea August 14, 2011 (9:16 am)

    I’ve always thought the Hole would make a great W. Seattle Aquarium.

  • Limey August 15, 2011 (10:14 pm)

    SKATEPARK!!!! Back me up on this!

  • BHeritage August 16, 2011 (2:48 pm)

    I agree with Limey – turn it into a skate park…BUT, that park has to have an ‘old people’ day so that I can come with my rollerblades and try it out without having all the teens / young adults laugh at the ‘old lady’ fall on my rear.

  • Patrick Lajko August 17, 2011 (3:07 pm)

    Wasn’t there supposed to be a bond put up by the developers to fill it back in? The shoring has exceeded its expected life span. When the rains come again, it will probably fall in on itself.
    Developers are going to tear down half the junction soon, so why don’t they build in the hole, instead? The block with Super Supplements is on the chopping block – so let those buildings stay and build in the hole. Our area will turn into another Ballard development or like the area north of Pike Market, and lose all the charm and friendliness.

Sorry, comment time is over.