Official word is finally here on the shuttering of the 24-hour dining institution — and how soon it'll reopen in Pioneer Square, and what the new location will be like.

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It’s true: Seattle’s classic restaurant 13 Coins — open 24/7 in South Lake Union since 1967 — is closing, making way for yet more new development. But when it shutters in the late fall of this year, 13 Coins will be reborn immediately, if all goes according to plan, in Pioneer Square.  (The specific date is T.B.D., dependent on construction.)

Owner Al Moscatel says he committed a year and a half ago to making sure his Seattle 13 Coins staff — many of them longtimers — have no lapses in employment, with the closure of the old seguing seamlessly into the opening of the new. He recently managed to get the lease on the original space extended until December 1 to facilitate that.

Moscatel also says, “Don’t worry! We know about the chairs, we know about the booths.” Beloved 13 Coins design elements — swiveling, high-back, cushy captain’s chairs; floor-to-ceiling, extra-private, cushy booths; an open kitchen, with flambéing for excitement — will make the move to the new space at South King Street and Second Avenue South (right in between Quality Athletics and King Street Station, very close to CenturyLink Field). It’ll be 10,500 square feet, on two levels, with two bars, plus multiple private event spaces, including two even-more-private VIP booths. It, too, will be open 24/7. And, yes, validated parking.

In the meantime, 13 Coins’ classic — some would say dated — menu will be refined. After Labor Day, it’ll be lighter and a little more contemporary, without, Moscatel hastens to add, losing anyone’s favorite dishes.

No, the new space won’t be the same. But Moscatel notes that it’s the restaurant’s 50th anniversary and that there’s plenty of time left to celebrate. An auction benefiting a yet-to-be-determined local nonprofit will mean that fans may be able to have a bit of the original 13 Coins to keep forever. And meanwhile, there are 50 years of stories to be told. (And with 13 Coins neighboring the Seattle Times all that time — first the old building, now the new — probably some unprintable ones from my colleagues.)