Seattle DJC.com local business enterprise news and knowledge – Serious Estate
November 8, 2021
Belltown’s 42-tale condo/lodge back again for a different style and design evaluation
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The extremely distinguished corner at 1931 Second Ave. has resisted redevelopment initiatives now for well about a 10 years. Prior proprietors floated a plan before the Good Recession, then later on gave up and sold. The corner, at Virginia Road, isn’t cursed. But it is property to the landmarked Terminal Product sales Annex, which is awkwardly situated in the center of the frontage on Next — alternatively of remaining pushed to a handy corner. The TSA has been vacant for a long time.

To improve the redevelopment potential, with zoning up to 440 feet, operator Pacific Eagle and its architects have to preserve at least the front facade of the TSA, then build a large increase all-around it. That hard prepare dates back some a few years. The most up-to-date design overview will be tomorrow, in a virtual presentation.

Japanese architect Kengo Kuma and nearby firm Ankrom Moisan Architects had by previous 12 months settled on a 42-story prepare that would combine condominiums, lodge rooms, co-doing work spots and feasible co-residing rental units. The actual balance of people factors has shifted repeatedly — reflecting the pre- and late-pandemic current market, and transforming attitudes toward sharing desks and near living quarters. That mix will certainly adjust yet again prior to floor is damaged.

Latest numbers are 6,700 sq. toes of ground-ground cafe and retail space resort functions, amenities, and so on. on floors two through four rental owner storage on five a destination bar on six (with deck on the protruding roof of the TSA) and then 240 lodge rooms would start on 6 and operate to the 15th ground.

The co-get the job done house appears to be programmed for flooring 16 via 18. About 200 condos would operate from flooring 19 by means of 41. Above that would be amenity space and a west-experiencing deck with 2,880 square feet in addition a 2nd 1,089-square-foot deck wanting southeast (all for house owners, not hotel company).

Condo homeowners would have their lobby on Virginia, with the lodge entry on Next. Below quality would be 175 automated parking stalls on five levels, to be accessed from the alley to the west. Owners would also have about 210 bicycle stalls on the fifth floor. (Pacific Eagle also owns a nearby garage on Next, currently shuttered, that could be utilized for resort company, occasions or overflow parking.)

Previously mentioned quality, Ankrom Moisan lists the Eaton task at all-around 487,100 sq. feet. The Necessary Housing Affordability price is approximated at about $5.2 million.

The hotel branding and developing possession are all intertwined. Eaton appears to be like to be the resort manufacturer, with linked Eaton Workshop running a assortment of capabilities. Equally are linked with Hong Kong billionaire Lo Ka Shui and his daughter, Katherine Lo. Pacific Eagle, which compensated $18 million for the corner five years back, is connected to Fantastic Eagle Group.

Eaton Workshop defines itself as “a mission-driven world hospitality firm devoted to shaping a much better planet based on values of inclusivity and fairness, supplying a system that retains room for belonging, expression and collective improve.” Its arms are resort, residence (evidently that means co-dwelling), wellness, culture, media and impact. It owns and operates lodges in Hong Kong and Washington, D.C.

The Eaton staff also involves Berger Partnership, landscape architect Schwartz Co., owner’s rep Speeding, MEP engineer Coughlin Porter Lundeen, structural engineer Navix, civil engineer Edgett Williams Consulting Team, elevators RDH Constructing Science, envelope Bush, Roed & Hitchings, surveyor Park Functions, parking Commune Structure, commercial and resort interiors and Olson Kundig, rental interiors.

As of June 2020, Pacific Eagle mentioned it would use an in-property contractor. But which is subject to adjust. There’s no indication nonetheless of a doable commence day or condominium advertising and marketing effort.
Brian Miller can be 
attained by email at [email protected] or by cellular phone at (206) 219-6517.