Pacific Tower

Development
5:00 am
Thu May 29, 2014

Pacific Tower Expected To Fill With Tenants; Long-Term Funding An Issue

Joe Mabel Wikimedia

After a slow start, the state of Washington says it’s on track to fill the former headquarters of Amazon.com with tenants. But long-term costs remain a concern.

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Pacific Tower
5:01 am
Tue November 12, 2013

State's Past Real Estate Pick Proved Money-Loser

Nick Cockrell with Washington’s Department of Enterprise Services gives a tour of the state-owned Rhodes Center in Tacoma, Wash.
Austin Jenkins

The state of Washington is expected to sign a 30-year lease Tuesday for Seattle’s iconic Pacific Tower, or the so-called PacMed building, on Beacon Hill. The idea is to turn the former headquarters of Amazon.com into a hub for health care innovation and training. 

The plan is reminiscent of another big real estate decision the state made nearly 20 years ago—one that’s proven costly.

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Development
10:12 am
Thu October 31, 2013

Deal or Debacle? Terms of PacMed Building Lease Raise Questions

Wonderlane Flickr

The state of Washington is about to make a major real estate decision on a Seattle landmark that supporters say will transform health care training for the next generation.

The proposed lease of Seattle’s Pacific Tower, or the PacMed building as it's sometimes called, has been called “a nightmare.”

Powerful interests, including Washington’s Speaker of the House, want to turn the former Amazon headquarters into a training center for future health care workers and a hub for nonprofit groups. But internal state agency documents raise serious questions about the terms and cost of the deal.

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Pacific Tower
5:29 pm
Thu September 26, 2013

Former Amazon Building Lease Could Cost $270M over 30 Years

Wonderlane Flickr

More than $270 million over 30 years. That’s how much it could cost the state of Washington to lease and operate the former headquarters of Amazon.com.

Earlier this year, state lawmakers voted to turn the building into a new training center for future health care workers. The preliminary cost estimate is contained in documents released as part of a public records request.

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