Big hole near Green Lake starts to fill up; Esterline investor prompts takeover speculation

After a four-year hiatus, developers have restarted construction of Green Lake Village, a closely watched apartment and retail project on the site of the old Vitamilk Dairy.

Lorig Associates stopped work in late 2007 when negotiations with a prospective grocery tenant fell through, leaving a 3-acre crater in the Green Lake neighborhood's center. The project came back to life a year ago when PCC Natural Markets agreed to lease half its 50,000 square feet of retail space.

But Lorig CEO Tom Fitzsimmons said the design needed to be updated before construction could resume.

"The project had gotten a little stale," he said.

Green Lake Village should be finished in January 2014, he said.

In addition to retail, the three-building, five-story project will have 297 apartments and 430 underground parking stalls. It will cover the entire block bounded by Woodlawn Avenue Northeast, Fifth Avenue Northeast and Northeast 71st and 72nd streets.

Michael Cornell, president of the Green Lake Community Council, said the neighborhood "is anxious to see this project move forward, especially the PCC market."

Green Lake has needed a grocery store since the Albertson's later replaced by an apartment and retail complex closed in 2006, he said. And that need was magnified when the QFC in nearby Roosevelt closed last month to make way for a light-rail station.

No other retail tenants have signed on at Green Lake Village yet, Fitzsimmons said, "but quite a few folks are looking at it," including restaurants and fitness centers.

The project also has a new part owner insurance giant Northwestern Mutual, which formed a joint venture late last year with the family that owned Vitamilk. In addition to its equity stake in Green Lake Village, Northwestern Mutual also has loaned the project $50 million, according to county records.

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Big hole near Green Lake starts to fill up; Esterline investor prompts takeover speculation