The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1899-12-10

- west side Of Third avenue. between
Jefferson and James streets, Stephen
8. Bailey yesterday contaminated one OF
the largest and most important real estate
deals Of the year. The purchase was made
through the firm of Crawford & Conover.
who began negotiations for the property at
Mr. Bailey's request three weeks ago.
Deeds to the two corner lots were filed
yesterday, and the deed to the third will
be forwarded by Its owner from New York
this week.
Mr.. Bailey paid $4,000 for the property.
or an average of $s3s.3S per frcnt foot, In
GLIDING improvements. He announced yes
terday his purpose Of erecting on the prop
erty q magnificent hotel building, six
stories In height. and costing upwards Of
$4,000. Plans are to be drawn for the
structure in the near future, the design
being to make the hotel one Of the finest
in the West
The property purchased by Mr.. Bailey
covers a ground area OF $50 feet by 100 feet,
the frontage on Third avenue being $50
feet. Three weeks ago Crawford & Con-
oxer were requested by Mr. Bailey to open
negotiations with the owners of the three
let's for their purchase. They first secured
from w. D. Honus. the iron and
steel dealer, paying therefore $4,000.
Mr. Ho1us had purchased the
property three months before for $4,000
The 6ox1D feet at the northwest corner Of
Jefferson and Third avenue. with improve
ments. which bring In a good rental, was
next secured from Trinity parish, the price
paid being $4,000. The final transaction
was made yesterday. when an agreement
Of sale was made by Mr. Bailey's agents
with F.. r. Durkee, of New York, for the
purchase of the third lot for $4,000.
The deeds from Trinity parish and from
Mr. Hofius were made of record yesterday.
=
as the deed is received from New York.
1t was stated yesterday. in behalf Of
Mr.. Bailey, that the contamination Of his
plans depends largely upon one or two
contingencies, the most important of which
is the regarding of Third avenue. between
Cherry street and Yesler way. He be-
lieves that this must inevitably be done in
order to make the street level and to re-
move the humps. One result to be secured
by a lowering Of the grade Of Third ave-
nue between the points named would be
to make tho property easier of access from
the water front and railroad depots.
Mr.. Bailey believes that the property
which he has purchased Is most excellent
for the site of modern hotel. and being
Of this conviction, is planning the erection
of thoroughly modern hostelry. contain
ing upwards Of 800 rooms. Of which one
third are to be supplied with private bath
rooms The building Is to be six stories In
height and will have large, handsomely
furnished parlors and Hobbies and every
other convenience for the comfort and
pleasure Of guests. The north thirty feet
of the building, as planned by Mr. Bailey.
will be but one story high. The object of
this will be to secure ample light and air
for the FIVE upper stories on the north side
of the hotel
There will also be an open court 40x5o
feet, with balconies on every floor, much
like those OF the Palace hotel in San Fran
CISCO The purpose Is to give all of the
rooms a wcil-lighted and airy frontage.
The Hotel Northern Is now under the
proprietorship of Mr.. Bailey. He leased
It two years ago, and his management OF
the hotel has been successful financially.
Fortunate investments in mining enter
prises IN Washington and British Column
bia. together with his Seattle holdings of
real estate, have, it Is said, placed the
means in Mr.. Bailey's hands to carry out
his present enterprise. Probably no min
ing or hotel man In the Pacific Northwest
Is better known than Mr.. Bailey.
The sale of the Trinity parish lot to Mr..
Bailey has placed that corporation out of
debt, lifting a $4,000 mortgage from the
church and relieving the parish Of float
ing debt of about 5000. Naturally there
is rejoicing by the rector, Rev. H. H.
Gowen, and the vestry at the removal of
these financial obligations.