45:
29:
585:(an original investor in the project). On May 20, 2016, Judge James Robart approved a plan submitted by the receiver on behalf of Molasky and Binjiang, committing $ 30 million to the project and allowing for construction to resume pending final approval by foreign investors; Dargey approved the plan after a deal was struck with the new developers to pay $ 1.8 million of the attorney fees he had accrued during the trial.
1603:
52:
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and later stripped of its EB-5 eligibility. In May 2016, the presiding judge approved a plan by two firms to buy out Dargey's share of the project and restart construction, pending approval from EB-5 investors; in
October, the two companies signed an agreement to restart construction and re-brand the
593:
On
October 6, Molasky and Binjiang signed an agreement to restart construction of the project, which would be renamed and rebranded. Work on the project resumed later that month, and is scheduled to be completed in January 2019. In February 2017, Molasky and Binjiang announced that the project had
545:
against Dargey and Path
America, the company managing the EB-5 financing of the Potala Tower project and several others in the region. The following day, Dargey's assets were seized, forcing construction on the tower to halt; by then, excavation had reached a depth of 60 feet (18 m) and PCL
417:
The tower itself is 41 stories, including 2,743 square feet (254.8 m) of retail space at ground level, 329 parking spaces, 142 hotel rooms, and 344 apartments comprising floors 11 through 41. Amenities include a 7th floor deck for the hotel and a rooftop terrace for apartment residents; the
418:
original design for the rooftop deck included an outdoor movie theater. The Sound Hotel operates within the tower, occupying floors 2 through 10, and includes a lounge, meeting spaces, a fitness center, and a bistro. The apartments range from 520-square-foot (48 m)
602:
under their
Tapestry Collection brand as The Sound Hotel, opened on February 12, 2019. The project's construction loan was retired in September 2021 and allowed to regain its EB-5 eligibility under a new financing agreement for $ 102.7 million by Gantry.
565:, including the Potala Tower project. A recovery plan was filed in January by the court receiver, proposing to sell all of Path America's projects, which Dargey and several investors opposed on the grounds of possible loss of EB-5 eligibility.
521:(a type of ceremonial Buddhist scarf), marked the beginning of demolition for the Dean Transmissions building on the site. Site excavation, marking the actual start of construction, began the following April under the direction of
546:
announced that it would stop construction. The SEC alleged that Dargey diverted $ 17.6 million of at least $ 125 million raised through the EB-5 program and misused them on himself, including the purchase of his
542:
2087:
573:
for project investors. The receiver was granted partial approval to sell the project in April; 13 bids were received for the property and/or project, including from local firm
2062:
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460:, was bought by HAL Real Estate Investments in 2008 for $ 5 million. HAL applied for permits to build a 38-story building with 365 apartments, called the "Cinema Tower".
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Construction was put on hold in August 2015, when the assets of project developer
Lobsang Dargey were frozen by a court order after a civil fraud suit by the
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was identified as the operator of the 142-hotel in the tower. Construction on the project was scheduled to begin later that year and end by 2017.
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movie theater, located adjacent to the property. The project was originally called "Cinema Tower", prior to its transfer to Dargey
Development.
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for the project on August 28, 2014. The ceremony, which included a blessing from
Buddhist monks and participants wearing traditional
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389:(SEC). The SEC alleges that Dargey diverted funds from the project for his own personal uses, including the purchase of his
463:
In 2013, developer
Lobsang Dargey bought the property from HAL for $ 11.5 million, and announced his intention to build a
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raised $ 325 million in funds to continue work on the project. The project was rebranded as "Arrivé" in May 2017 and was
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instead revoked the Potala Tower project of EB-5 eligibility in March 2016, closing the possibility of granting
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and consists of 342 apartments and a 142-room hotel. It was financed partially by
Chinese nationals through the
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452:-acre (0.13 ha) site, facing 4th Avenue between Blanchard and Lenora streets and located adjacent to the
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1550:"The Hotel Group Selected to Manage The Sound Hotel Seattle Belltown - Tapestry Collection by Hilton"
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through his company, Path
America. The project's approach to EB-5 financing was also promoted by
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ordered that Path America and its assets be removed from Dargey's control and placed into
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1371:"Chinese firm competes with Vulcan to take over scandal-plagued Belltown tower project"
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1573:"Dargey tower reinstated as EB-5 project, lands $ 103M in permanent financing"
1267:"SEC says local developer cheated immigrant investors, spent money on himself"
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monk who immigrated to Seattle in 1997, planned to finance the project with
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1162:"SEC Announces Asset Freeze Against Alleged EB-5 Fraudster in Seattle Area"
1055:"Chanting monks, chiming bells and Tom Skerritt kick off Seattle high-rise"
828:
798:
622:"Record construction frenzy sweeps downtown Seattle; more building to come"
942:"Seattle Potala Tower EB-5 Project, Shanghai Film Plaza Conference Center"
525:. A construction permit to build the tower was issued on August 17, 2015.
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home, transfers between projects, and gambling at casinos as far away as
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975:"Washington Lt. Governor Touted Company At Center Of SEC Investigation"
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1422:"Joint Venture Triggers Construction Of New Tower In Downtown Seattle"
1293:"Developer Dargey loses control of Everett company over fraud charges"
1957:
1241:"Proposed deal would revive Potala Tower, stalled by SEC fraud suit"
1215:"Fraud investigation halts Potala Tower, endangers Othello project"
911:"Developer with roots as Tibetan monk firmly planted in capitalism"
890:. Seattle Department of Planning and Development. September 9, 2008
654:
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495:
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1107:"Construction finally starts on 41-story Potala Tower in Seattle"
947:. Office of the Lieutenant Governor of Washington. Archived from
293:
1618:
1027:"Boutique hotel, 342-unit tower begins construction in Belltown"
829:"Dargey Development preparing to start 41-story tower this year"
486:
in 2014. The proposed tower, now named "Potala Tower" after the
1629:
1445:"Work resumes on Belltown high-rise tied to EB-5 fraud charges"
1973:
1319:"Receiver wants to sell Dargey's Potala Tower, other projects"
799:"Dargey buys Belltown land for $ 12M, plans mixed-use project"
398:
project. The tower was completed and opened in February 2019.
325:
319:
334:
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home and gambling. The project was then transferred to a
350:) is a 440-foot (130 m), 41-story skyscraper in the
16:
High-rise hotel and residences in Seattle, Washington, US
1345:"Dargey, allies seek to keep Potala Tower project going"
1080:"PCL Construction Contributes to Seattle Building Boom"
766:"These days, former condo towers switch to apartments"
729:"High Rise Under Construction Gets New Name And Brand"
343:
331:
322:
2018:
2002:
1966:
1950:
1664:
1552:(Press release). Hotel-Online.com. January 22, 2018
1424:(Press release). The Molasky Group. October 6, 2016
598:the following year. The hotel portion, operated by
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1397:"Judge OKs plan to restart stalled Belltown tower"
1136:Seattle Department of Construction and Inspections
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567:United States Citizenship and Immigration Services
1189:"3 Path America projects halted after SEC action"
1132:"Permit & Complaint Status: Project #6423027"
422:to a 1,869-square-foot (173.6 m) penthouse.
406:Arrivé was designed by Seattle architecture firm
822:
820:
382:program and began construction in April 2015.
362:. The $ 190 million project, originally named
2088:Buildings and structures in Belltown, Seattle
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8:
1523:"43-story Arrive tower tops out in Belltown"
858:"Arrivé has arrived: New tower in Belltown"
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1000:"Groundbreaking soon for 4th Avenue tower"
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2063:2019 establishments in Washington (state)
1496:"Newmark raises funds to restart Potala"
723:
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2073:Residential buildings completed in 2019
1166:U.S. Securities and Exchange Commission
885:"2116 4th Avenue Early Design Guidance"
612:
535:U.S. Securities and Exchange Commission
387:U.S. Securities and Exchange Commission
229:530,000 sq ft (49,000 m)
557:In October, U.S. District Court Judge
252:Binjiang Tower Corp and Molasky Group
7:
1025:Parkhurst, Emily (August 15, 2014).
695:
693:
691:
689:
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467:tower on the site. Dargey, a former
1343:Bhatt, Sanjay (February 16, 2016).
973:Jenkins, Austin (August 26, 2015).
2078:Residential skyscrapers in Seattle
1317:Bhatt, Sanjay (January 20, 2016).
1291:Bhatt, Sanjay (October 23, 2015).
620:Rosenberg, Mike (March 10, 2017).
14:
2068:Hotel buildings completed in 2019
1792:Henry M. Jackson Federal Building
1528:Seattle Daily Journal of Commerce
1500:Seattle Daily Journal of Commerce
1474:Seattle Daily Journal of Commerce
1470:"Work restarts on Belltown tower"
1443:Stiles, Marc (October 24, 2016).
1265:Bhatt, Sanjay (August 24, 2015).
1213:Bhatt, Sanjay (August 26, 2015).
1193:Seattle Daily Journal of Commerce
1004:Seattle Daily Journal of Commerce
863:Seattle Daily Journal of Commerce
833:Seattle Daily Journal of Commerce
803:Seattle Daily Journal of Commerce
772:Seattle Daily Journal of Commerce
513:, a personal friend of his, at a
1837:Fifteen Twenty-One Second Avenue
1601:
1571:Stiles, Marc (October 5, 2021).
1395:Rosenberg, Mike (May 23, 2016).
1053:Stiles, Marc (August 28, 2014).
315:
59:Location within downtown Seattle
50:
43:
27:
1239:Grunbaum, Rami (May 17, 2016).
1105:Stiles, Marc (April 14, 2015).
275:344 apartments, 142 hotel rooms
909:Ervin, Keith (July 15, 2012).
410:with elements referencing the
51:
33:Under construction in May 2018
1:
1369:Stiles, Marc (May 17, 2016).
1187:Levy, Nat (August 27, 2015).
827:Porter, Lynn (July 1, 2014).
763:Stiles, Marc (May 13, 2011).
672:"Emporis building ID 1235868"
498:, was unveiled in July 2014;
2083:Skyscraper hotels in Seattle
2040:Tallest buildings in Seattle
1577:Puget Sound Business Journal
1449:Puget Sound Business Journal
1375:Puget Sound Business Journal
1111:Puget Sound Business Journal
1059:Puget Sound Business Journal
1032:Puget Sound Business Journal
1767:Fourth and Madison Building
701:"Potala Tower, Seattle, WA"
505:Dargey was joined by Mayor
2104:
1812:Westin Seattle North Tower
1712:Russell Investments Center
589:Resumption of construction
583:Binjiang Tower Corporation
171:August 2015 – October 2016
136:47.6144194°N 122.3417333°W
71:Potala Tower, Cinema Tower
2034:
438:Planning and construction
425:The project is seeking a
304:
292:
38:
26:
1922:United States Courthouse
1432:– via PR Newswire.
581:, and Chinese developer
533:On August 24, 2015, the
395:court-appointed receiver
208:440 ft (130 m)
141:47.6144194; -122.3417333
1692:Seattle Municipal Tower
537:(SEC) filed in a civil
515:groundbreaking ceremony
482:during a state trip to
402:Design and architecture
234:Design and construction
1659:skyscrapers and towers
979:Northwest News Network
1902:Onni South Lake Union
1777:Hyatt Regency Seattle
92:Residential and hotel
1994:The Langham, Seattle
1677:Rainier Square Tower
1142:on February 14, 2019
954:on December 21, 2016
529:Halt in construction
168:Construction stopped
160:Construction started
1817:McKenzie Apartments
1782:1600 Seventh Avenue
1609:Architecture portal
865:. February 13, 2019
543:U.S. District Court
477:Lieutenant Governor
132: /
76:General information
2026:McGuire Apartments
2010:1015 Second Avenue
1951:Under construction
1787:1000 Second Avenue
1772:1918 Eighth Avenue
1502:. February 2, 2017
1476:. October 28, 2016
805:. October 18, 2013
577:, Las Vegas-based
575:Vulcan Real Estate
374:, was designed by
2048:
2047:
1942:Exchange Building
1807:1111 Third Avenue
1682:1201 Third Avenue
1401:The Seattle Times
1349:The Seattle Times
1323:The Seattle Times
1297:The Seattle Times
1271:The Seattle Times
1245:The Seattle Times
1219:The Seattle Times
1168:. August 25, 2015
1164:(Press release).
1082:(Press release).
1006:. August 18, 2014
916:The Seattle Times
733:The Molasky Group
731:(Press release).
657:Skyscraper Center
627:The Seattle Times
541:complaint in the
308:
307:
267:Other information
239:Architecture firm
213:Technical details
187:February 12, 2019
2095:
1979:3rd & Cherry
1867:Premiere on Pine
1802:One Union Square
1732:901 Fifth Avenue
1727:800 Fifth Avenue
1717:U.S. Bank Center
1687:Two Union Square
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1619:Official website
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1138:. Archived from
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1086:. April 14, 2015
1084:PCL Construction
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940:(May 17, 2014).
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539:securities fraud
523:PCL Construction
469:Tibetan Buddhist
454:Seattle Cinerama
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354:neighborhood of
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272:Number of units
257:Main contractor
155:August 28, 2014
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100:2116 4th Avenue
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735:. May 8, 2017
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579:Molasky Group
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488:Potala Palace
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195:$ 190 million
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124:47°36′51.91″N
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1707:Space Needle
1702:Safeco Plaza
1580:. Retrieved
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1156:
1144:. Retrieved
1140:the original
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956:. Retrieved
949:the original
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879:
869:February 13,
867:. Retrieved
862:
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807:. Retrieved
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776:. Retrieved
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743:– via
737:. Retrieved
708:. Retrieved
675:
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631:. Retrieved
625:
615:
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563:receivership
559:James Robart
556:
532:
511:Tom Skerritt
504:
500:Hotel Indigo
462:
441:
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416:
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384:
364:Potala Tower
363:
310:
309:
68:Former names
2003:Never built
1887:The Emerald
1797:Smith Tower
1506:February 3,
1480:October 28,
1454:October 24,
1010:October 27,
745:PR Newswire
571:green cards
456:theater in
427:LEED Silver
218:Floor count
139: /
114:Coordinates
2057:Categories
2038:See also:
2019:Demolished
1937:1200 Fifth
1582:October 6,
1428:October 8,
938:Owen, Brad
607:References
596:topped out
509:and actor
473:EB-5 visas
366:after the
360:Washington
300:References
283:329 stalls
226:Floor area
176:Topped-out
163:April 2015
107:Washington
1757:re:Invent
1556:March 30,
633:March 27,
552:Las Vegas
507:Ed Murray
480:Brad Owen
465:mixed-use
380:EB-5 visa
249:Developer
84:Completed
1967:Proposed
1932:UW Tower
1917:Tower 12
1822:AMLI Arc
1697:F5 Tower
649:"Arrivé"
548:Bellevue
484:Shanghai
458:Belltown
391:Bellevue
352:Belltown
179:May 2018
1984:The Net
1882:Stratus
1852:Kinects
1747:Doppler
1665:Current
1657:Seattle
1406:May 23,
1380:May 20,
1354:May 20,
1328:May 20,
1302:May 20,
1276:May 20,
1250:May 20,
1224:May 20,
1198:May 20,
1172:May 20,
1146:May 20,
1116:May 20,
1090:May 20,
1064:May 20,
1038:May 20,
984:May 20,
958:May 20,
922:May 20,
894:May 20,
838:May 20,
809:May 20,
778:May 20,
710:May 20,
677:Emporis
447:⁄
433:History
356:Seattle
344:ah-ree-
288:Website
280:Parking
103:Seattle
97:Address
1958:WB1200
1912:Aspira
1857:Modern
1842:Helios
1832:Cirrus
1827:Arrivé
1534:May 9,
739:May 8,
519:khatas
420:studio
311:Arrivé
200:Height
184:Opened
81:Status
22:Arrivé
1897:Kiara
1877:Spire
1862:Nexus
1752:Day 1
952:(PDF)
945:(PDF)
888:(PDF)
655:CTBUH
496:Tibet
492:Lhasa
372:Tibet
1584:2021
1558:2018
1536:2018
1508:2017
1482:2016
1456:2016
1430:2016
1408:2016
1382:2016
1356:2016
1330:2016
1304:2016
1278:2016
1252:2016
1226:2016
1200:2016
1174:2016
1148:2016
1118:2016
1092:2016
1066:2016
1040:2016
1012:2017
986:2016
960:2016
924:2016
896:2016
871:2019
840:2016
811:2016
780:2016
741:2017
712:2016
635:2017
442:The
205:Roof
192:Cost
89:Type
1974:4/C
1872:Ren
490:in
370:in
346:VAY
2059::
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Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.
