Seattle Reaches $1M Settlement With Showbox Building Owner

SEATTLE, WA -- The City of Seattle has settled a lawsuit with the owner of the building that houses the Showbox music venue. The $40 million suit was filed last year after the city council extended temporary landmark protections to the building, effectively blocking its sale. A judge later voided those restrictions.

The $915,000 settlement will pay for attorney fees and other costs associated with the case. As part of the deal, the city would allow a third party to buy the property, and rights to the Showbox name, for $41.4 million if there are further no blocks put in place by the Landmarks Preservation Board or the City Council. Under the agreement, neither party admitted wrongdoing.

If the preservation board does not apply a permanent landmark status to the building, a group called Historic Seattle has expressed interest in buying the building. City Attorney Pete Holmes called the lawsuit "largely superfluous" but said the resolution costs the city just a small fraction of what potential larger judgment might.

“The focus of this situation is now appropriately with the Landmarks Preservation Board. I weighed the likelihood of success appealing a case that is now largely superfluous against a potential judgment costing the City tens of millions of dollars. When presented with a resolution that costs us only a fraction of that potential judgment and that retains an option for a third-party organization like Historic Seattle to lead an effort to purchase the building in the event no landmark controls are imposed, this wasn’t a difficult decision to make.”

A spokesperson for the building's owner also released a statement in support of the agreement.

“Our settlement with the City of Seattle allows for a return to a consistent and fair application of the city’s regulations governing 1426 First Avenue. We are also pleased that our settlement with the City of Seattle includes a contingent option for a third-party allied with the City to potentially purchase the property for $41.4 million –the owner has always been open to consider any serious purchaser that offers fair market-value.”

You can read the full settlement below: