According to an article in The Seattle Times today, the Silver Cloud hotel chain has bought 0.7 acres of land in Downtown Bellevue on the corner of 108th Ave. and 6th St. across from the Bellevue Transit Center. Paying $9.5 million for the site, the Bellevue-based regional hotel chain made an investment for their future.
“We may build something there someday, but not with the market the way it is,” said Silver Cloud majority owner Jim Weymouth. The site, which is currently home to a store an an old office building, had been on sale by Utah-based Wasatch Development. Wasatch is also the owner of what was to be the Washington Square “Superblock”, which is also up for sale for $113 million.
Silver Cloud Inns & Hotels has 10 hotels in Washington and Oregon, one of them already being in Downtown Bellevue on 12th Street.
