[Urbannizer]

Belltown project fomerly known as Potala Tower moves forward

August 2014, developer Lobsang Dargey broke ground with Seattle mayor Ed Murray on the 41-story Belltown mixed-use project known as Potala Tower. A year later, development stopped when Dargey was accused of pilfering millions from investors on the project. In early 2016, a judge has ruled that a development partnership between Binjiang Tower Corp and Molasky Group could take over the project and attempt to reboot it.

That plan is now moving forward and so is construction on the 41-story project at 2116 Fourth Avenue. When completed, the complex will include 339 apartment units, 142 hotel rooms, 1,824 square feet of ground-floor retail space, and 177 underground parking spaces. Some previous EB5 investors are partnering with joint venture partners in order to make it happen.

2116 4th Ave 2016-12-20 by LB Bryce, on Flickr

2116 4th Ave 2016-12-20 by LB Bryce, on Flickr