The acquired properties include the 75-year-old Kress Buildingat 934 Broadway, abandoned by Kress in 1972, the 50-year-oldWoolworth Building at 955 Broadway, vacated by Woolworth in 1993,the 94-year-old Payless Building at 930 Broadway that Paylessdeserted in 1979. Also thrown in was the parking lot at 920-922Broadway, across from the Pantages Theater and Theatre on theSquare, which may turn into a three-story parking garage.

Cost of the Theater District resurrection: $15 million. "Myworld is technology," Von Schmauder says. "I got into real estateto diversify." His real focus is to help downtown and therenaissance that's truly happening here," has says. "We want tocreate a habitat for technology of synergistic companies that cangrow from each other. We have the performing arts at one end ofthis block and Broadway.com at the other end."

Von Schmauder, who has already moved Capital Connection, his10-year-old commercial equipment leasing and financing company,from University Place to the third floor of the four-story KressBuilding, says the interior renovation of the Woolworth Building isunderway. He intends to turn the historic corner into a technologycenter. Von Schmauder's partners include real estate broker EricCederstrand of Colliers International Ken Cederstrand; an uncle,and Eugene Cederstrand, his father.