We’re continuing to check on stalled development sites. Today, an update on 5242-5258 California SW, the site that includes a former strip mall plus two former restaurants (most recently Papa John’s, closed since 2017, and Thaitan, closed since 2019) north of Brandon. The site is listed for sale again, this time as a “permitted development site” approved for 32 townhouses. The asking price: $7.7 million.
The land is owned by entities traceable to Memphis-based Lexington Asset Management, which bought it in 2018 and 2019 purchases totaling $4.6 million, according to King County Assessor’s Office records. Development proposals for the site went through the city process in stages going back to 2017. The sales flyer for the site calls it “the largest permitted townhome opportunity in the heart of West Seattle in over 20 years,” though Rally – the townhome development at the former Charlestown Café site – isn’t far behind, at 27 units. The flyer also makes note of the closed bridge, observing that “West Seattle Bridge reopens in 2022, which will accelerate home value and rent growth (work is already underway).”
Meantime, the graffiti and trash at the site has led to complaints filed with the city, most recently early this year (we noted a crew placing new plywood over the windows in mid-March, but as our photo above shows, the tagging has been re-accumulating since then).