Downtown Pacific Place redevelopment plan to create office space falls through
In a bid to revitalize the in-person shopping experience and provide new use for now empty storefronts, plans have been created to renovate Pacific Place Mall to include office space, as reported by the Seattle Times. Now, however, those plans have hit a snag, as Pacific Place Mall has said the proposal isn’t on the table.
With the pandemic leaving malls and malls empty as shoppers sheltered at home from the COVID-19 virus, a large number of storefronts remained empty as retailers closed due to lack of traffic. Mall footfall has been steadily declining for some time now, with the rise of online shopping taking much of the activity, but for many the pandemic restrictions have been the breaking point.
Downtown Seattle tries to attract workers from remote areas with a revitalized atmosphere
The mall was already struggling to maintain its principles, dropping from 50 stores and restaurants in 2017 to just 21 in January 2020, just before the pandemic hit.
Hudson Pacific Properties Inc., a Los Angeles-based real estate developer, drew up the $260 million plan to redevelop the mall to include office space in the building, even going so far as to file a pre-use request. of building and ground to convert the second to fifth floor away from retail space.
Now, that plan has been put on hold indefinitely, which is currently reported by the Puget Sound Business Journal, crediting a source with knowledge of the redevelopment proposal.
Hudson Pacific Properties, Madison Marquette, owner of Pacific Place, and Seattle developer Pine Street Group, which originally developed the mall, did not respond to questions about the sale, redevelopment or why the plan might have failed.
The amount of office space needed is even another matter, as the Downtown Seattle Association said July saw Seattle office workers return to downtown at only about 40% of 2019 totals. employees are returning to downtown at their fastest pace since the pandemic began and hope those numbers continue to rise.
While remote employment has become a popular solution for working during a pandemic, only 18% of employees want to work remotely full-time, according to a survey by the DSA, as the reason for the development of office spaces could be useful.