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“Closed” signs are going up on the Seattle waterfront this week. In a rare move, 15 businesses have agreed to shut down until next summer while the city builds a new seawall.

It’s an unprecedented nine-month closure, starting Oct. 1, of businesses located on Piers 54 to 57. Bob Donegan, President of Ivar’s and leader of a waterfront business association says normally, the city would work around the businesses during construction.

“But because there is no back door to the waterfront piers, you can’t come through the others streets. It really is unprecedented,” says Donegan.

It’s estimated businesses will lose between $22 million and $27 million during the closure but the city will save about $30 million.

“So with the city, we agreed they’ll reimburse us out of those savings, up to $15 million,” says Donegan. “The idea is that the money will allow the businesses to pay their fixed costs, such as rent, insurance and utilities so that they can stay afloat until they can re-open their doors in July, 2015.

The closures affect as many as 900 employees. They’ve known about it for months. Some bosses are transferring workers or trying to find them other jobs.

The project is the foundation of a grand renovation of the central Seattle waterfront.

“We have the seawall being replaced, the viaduct is coming down, tunnel completion and then once the viaduct is down, the re-making of our waterfront,” says Jessica Murphy, project manager for the Seattle Department of Transportation.

The re-making will also include a new park.

“When the park gets done in 2019 or 2020 and the number of visitors to the waterfront doubles, it will be a home run for everybody who’s down here,” says Donegan.

Until then, streets remain open. Alaskan Way surface traffic is being diverted to the new roadway built beneath the viaduct. Parking garage bargains are available and the city has discounted street parking.

At Waterfront Park, just north of the closure, businesses have created the New Waterfront Festival, Sat. Oct. 4, to highlight what will remain open, including the Aquarium, Argosy Tours and the Great Wheel. They’ll have food, music, family activities and a 45-minute light show, hoping to convince people that much of the Seattle waterfront remains open for business this winter.