Tonsing Properties LLC, of San Francisco, and ProNet Capital LLC, of Denver, paid $10 million for the site, at 111th Avenue Northeast and Northeast Eighth Street, and predevelopment costs. They estimate the total cost of their mixed-use "VIDA" project will be $75 million.

The building will include more than 200 condominiums ranging from studios selling for about $300,000 to two-bedroom units priced at more than $800,000.

It also will include about 10,000 square feet of street-level retail space and four levels of underground parking.

The developers are scheduled to open a sales center early next year, with occupancy of the first condos in late 2009.

'SNL' to sell latest best-of DVD only at Starbucks

"Saturday Night Live," which has made a living poking convention and corporate America in the eye, is cozying up with Starbucks.

The show's "The Best of '06/'07" DVD will be available for sale only at Starbucks stores.

"The world where you went to a store and bought a DVD, those stores are not there anymore," "SNL" creator-producer Lorne Michaels said, adding that Starbucks does "a really good job of marketing" CDs and DVDs.

Starbucks draws 40 million customers a week into its 14,000 worldwide locations, said Ken Lombard, president of Starbucks Entertainment. The DVD will be available starting Tuesday.

ING Clarion developing 5-story office in Redmond

Real estate investment firm ING Clarion Partners LLC said Monday that it is developing a five-story office building in Redmond, about two miles from Microsoft Corp. headquarters. The 106,000-square-foot project will be a part of a larger development, called River Park.

"River Park will be a wonderful mixed-use development that will include many features of a live, work, play environment," said Pete Stone, ING senior vice president.

The project is expected to be completed in 2008.

NATIONAL NEWS

Hearst may raise offer for stock of Hearst-Argyle TV

The Hearst Corp. may raise its $593.1 million offer for the stock of Hearst-Argyle Television Inc. it doesn't already own, said JPMorgan Chase & Co. analyst John Blackledge.

The Hearst Corp., the closely held publisher of the Seattle P-I, owns 73 percent of Hearst-Argyle and is offering $23.50 a share for the rest.

Buying the broadcaster, which owns 26 television stations, will free it from pressure to deliver short-term results, Hearst said Thursday in a letter to the Hearst-Argyle board.

The broadcaster will notify investors of its position within 10 days of a tender offer from Hearst, according to the statement.

P&G alleges Kraft infringing on coffee container patents

CINCINNATI -- Consumer products giant Procter & Gamble Co. sued Kraft Foods Inc. on Monday, charging that a new plastic container for Kraft's Maxwell House coffee brand infringes on patents for P&G's Folgers coffee container.

P&G introduced a plastic container for its Folgers coffee in 2003 that has been used to help expand the Folgers business, the Cincinnati-based company said in a statement.

P&G filed a lawsuit in U.S. District Court in San Francisco that seeks to stop Kraft Foods from selling its coffee in the packaging that P&G says infringes on its patents. The lawsuit also seeks recovery of an unspecified amount in damages, P&G spokeswoman Jen Becker said.

Shares of Home Depot rise as investors await word of deal

ATLANTA -- Shares of The Home Depot Inc. rose almost 2 percent Monday as investors awaited word of a deal that the retailer was selling its wholesale distribution business for nearly $2 billion less than originally planned.

The reduced sale price of $8.5 billion for the Home Depot Supply division, which was confirmed Sunday by a person with direct knowledge of the situation, reflected turbulent credit conditions and a tightening housing market.

As Wall Street observers were waiting for a possible announcement, analysts welcomed the reports of a deal by the world's largest home-improvement store chain.

United States Steel Corp. buying Canada's Stelco

PITTSBURGH -- United States Steel Corp. is buying Canadian steel maker Stelco Inc. for about $1.1 billion in a move expected to bolster its position as a supplier to the North American automotive industry.

The Pittsburgh-based company said slabs produced at Stelco's Lake Erie and Hamilton plants will supply finishing facilities for flat-rolled steel -- used in the auto and appliance industries -- and tubular steel used mostly in the energy sector.

After the acquisition, U.S. Steel will become the world's fifth-largest steel maker. It will have with a production capacity of about 33 million net tons of raw steel annually, up from its current yearly capacity of 26.8 million tons.

WORLD NEWS

Courts in Netherlands, France refuse to block steel deal

ROTTERDAM, Netherlands -- Courts in the Netherlands and France refused Monday to grant injunctions blocking Mittal Steel Co. NV's proposed $41 billion acquisition of rival steel maker Arcelor SA.

Legal actions launched in Rotterdam by three hedge funds and in Paris by an activist shareholder were both rejected by judges, clearing hurdles to the creation of the world's largest steel maker as measured by sales.

The steel companies already call themselves ArcelorMittal.

In the Netherlands, three funds -- SRM Global Master Fund Ltd., Trafalgar Catalyst Fund and Trafalgar Entropy Fund -- went to court last week seeking to block the first phase of the two-step deal, when Rotterdam-based Mittal is to combine with ArcelorMittal SA, a Luxembourg holding company.

NEW TOP OFFICERS

Holland America Line named Paul T. Allen vice president of sales and Linda Springmann vice president, Alaska marketing and sales.

SHIPPING NEWS

Vessels due Tuesday at the Port of Seattle, according to the Marine Exchange of Puget Sound, include Supertramp from Keelung, Taiwan, at Terminal 18-3; Westwood Columbia from Vancouver, B.C., at Terminal 5-Center; and Xin Nan Tong from Busan, South Korea, at Terminal 18-3. Due Wednesday: OOCL Malaysia from Vancouver, B.C., at Terminal 18.

This report includes information from P-I staff, The Associated Press and Bloomberg News.

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