The J & M Building in Pioneer Square, photographed on Friday, June 16, 2017. The building was set to be auctioned June 2, but that auction was cancelled, putting the future of the landmark nightspot in doubt.
A group of Seattle-area developers anticipate starting construction of the 82-room boutique hotel later this year.
The former YMCA and a new addition next door will house the 82-room Penrose Hotel, as well as a restaurant and bar.
Seneca has hired BuildingWork to convert the J&M and Metropole Buildings into boutique hotels that will be managed jointly.
Located in the heart of downtown, the Penrose project includes the historic renovation of the existing 3-story YMCA Building as well as a 4-story addition.