Someone’s Gonna Pay for this one…Extensive Construction Defects Financially Impractical to Repair, Building Will Be Torn Down

OUCH! Defects in the slab will force this apt building to be emptied of tenants and torn down…

 

Belltown Apartment Building to Be Vacated and Dismantled

 
 

Owner cites expert reports on construction defects in nine-year-old building

SEATTLE, April 10 /PRNewswire/ — Carpenter’s Tower, LLC, the owner of the 25-story McGuire Apartments in the Belltown area of Seattle, today announced plans to vacate the building at Second Avenue and Wall Street over the next several months due to extensive construction defects which are financially impractical to repair.
“While there are no imminent tenant safety issues, the experts involved in the investigation and repair of the building have indicated that there will be structural issues that could present safety issues by 2011 and beyond,” said Brian Urback, with Kennedy Associates, the real estate advisor for Carpenter’s Tower.  “The McGuire is not in imminent danger of a structural failure and the experts have advised that the building be vacated by the end of 2010.  Under the circumstances, we are taking steps to vacate the building over the next several months and to help our tenants relocate.  Since the necessary repairs are impractical, the decision of the owner is to dismantle the building.”

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