Originally published September 9, 2010 at 9:45 AM | Page modified September 9, 2010 at 10:42 AM
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Federal Way council OKs land sale for skyscrapers
A plan to build three skyscrapers far higher than any other building in the Seattle suburb of Federal Way has taken another step forward.
The Associated Press
FEDERAL WAY, Wash. —
A plan to build three skyscrapers far higher than any other building in the Seattle suburb of Federal Way has taken another step forward.
The News Tribune reports that the City Council has approved selling 4 acres of city land to Seattle-based Twin Development for $6.15 million. Developers have until the end of the month to close the sale.
They propose building two 45-story buildings and a third at 35 stories, to house condominiums, hotel and retail space. Currently, the city's tallest building is a nine-story hotel.
To attract investors for the $300 million project, Twin Development says it will use a federal program that can grant foreign investors permanent legal resident status in exchange for putting money into certain U.S. projects.
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Information from: The News Tribune, http://www.thenewstribune.com
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