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    Seattle's Makeover

    Large chunk of prime real esate opening up

    The Clise Family, owner of 13 prime acres in the middle of downtown Seattle, is looking to sell. This creates the potential for 13 million square feet of development. According to the Wall Street Journal that much space rivals the entire World Trade Center complex before 9/11 or London's Canary Wharf.

    Clise Properties, a multigenerational family business with just 30 employees, is putting the land up for sale because of recent lifting of heigh restrictions on buildings in the downtown - going from 300 feet to 500 feet. (Other cities such as San Francisco and Vancouver have recently done the same because they've found restricting building to slow growth encourages sprawl and traffic congestion.

    WSJ reports that the family patriarch, James Clise, began buying up acreage in 1889 when he arrived in Seattle the day after a massive fire destroyed 30 city blocks. His capital came from a successful timber business he'd started in Denver, Colorado. Over the next century, the family has piece by piece acquired properties in the area known as the Denny Triangle. The area is named after Denny Hill, a hill that was leveled by the city early last century to make room for growth. GEO


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