There was an article in Friday's Puget Sound Business Journal chronicling the grief Cornish has endured trying to assimilate a strategic property into its Denny Triangle campus.
The property in question, 1000 Virginia, is a six-story building at the corner of Virginia and Terry which formerly housed low-income families. Cornish had been leasing the first two floors to build and store sets for performances at nearby Raisbeck Performance Hall, and they also arranged an option to buy the whole building with plans to use the remaining four floors as artist lofts.
The artist lofts would likely be affordable as well. The building was the recipient of $3.9M in low-income tax credits and is legally obligated to offer low-income units through 2022.
Cornish's grand plans are on hold, however, as the current ownership has wound up in bankruptcy. The building now sits vacant. No set-building, no artists, no low-income families.
See the PSBJ article for more.
