In 1997, ten acres in the South Lake Union area reverted toAllen upon the failure of the Commons initiative, which he hadbacked. That property became the core of his South Lake Unionportfolio. With that parcel and his acquisitions here since Allenhas amassed approximately 35 acres. Reports place the full amountspent on properties, through the billionaire's Vulcan NorthwestInc., in the vicinity of $100 million. This most recent purchase,totaling approximately 1.5 acres, was acquired from SavageWholesale Building Materials Inc. of Tacoma.
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