Potential buyers emerge for The Showbox music venue

SEATTLE - Saving Seattle's iconic Showbox music venue has taken another step forward with news of a potential buyer.

Tuesday, Historic Seattle and Seattle Theater Group (STG) announced that they have partnered to try and purchase the Showbox. In a press release, both organizations said they made a formal offer in October.

Details of the offer were not disclosed.

According to the release, if the offer is accepted, the partnership would retain sports and entertainment group AEG to be the operating tenant through 2024.

"We are thrilled to have such a strong partner as STG in our effort to purchase The Showbox," said Eugena Woo, director of preservation services at Historic Seattle. "As we continue our due diligence and look forward to the opportunity to negotiate with the property's owner, Historic Seattle will not back down in our fight to protect The Showbox."

Last month, the city of Seattle came to a settlement with The Showbox's current owner. For more than a year, there was a dispute about whether it was legal for the city to put the Showbox as a historical landmark. The move was intended to prevent the venue from being torn down to make room for a new apartment building.

The city settled for $915,000, but also opened the door for a third party to buy the property.

Historic Seattle said they are not backing down in keeping The Showbox a historical landmark. The group is urging the public to submit comments to the Landmarks Preservation Board by Dec. 6. The next meeting with the LPB is scheduled for Dec. 18.