Seattle Development News 8

[CrazyAboutCities]

Allen to close Cinerama 60 days to add 3-D, digital upgrades

Paul Allen will close his Cinerama Theatre for two months beginning Aug. 30 to add 3-D capability and digital sound upgrades.

Allen bought the historic movie theater at 2100 Fourth Ave. in downtown Seattle 12 years ago. Officials at Allen’s Vulcan Inc. management firm wouldn’t give an exact cost for the upgrades, but according to spokesman David Postman, “the entire project, which includes technical upgrades, some refurbishing of interior and exterior, etc., is a multimillion-dollar project.”

After the upgrade, the Cinerama is dumping management company AMC Entertainment Inc. and the theater will open under new management, Greg Wood, who’s owner and operator of the Roseway Theater in Portland.

Allen owns the Seattle Seahawks of the National Football League and the Portland Trail Blazers of the National Basketball Association.

http://www.bizjournals.com/seattle/s...2/daily15.html

[CrazyAboutCities]

High-rise apartment building planned near Colman Dock

Goodman Real Estate has submitted preliminary plans for a 15-story apartment building in downtown Seattle less than two blocks from Washington...

By Eric Pryne
Seattle Times business reporter

Goodman Real Estate has submitted preliminary plans for a 15-story apartment building in downtown Seattle less than two blocks from Washington State Ferries' Colman Dock.

It's one of the first new development proposals to surface in the downtown core since the real-estate market collapsed two years ago. For Goodman, it represents a change from earlier plans to build a 12-story office building on the site, now a parking lot bounded by Western and Post avenues and Columbia and Marion streets.

The newly proposed apartment building, the Colman Tower, would have about 200 units on the sixth through 15th floors aimed at "young urban professionals," according to plans filed with the city's Department of Planning and Development. Parking and street-level retail would occupy the lower levels.

Goodman representatives did not return calls seeking more information. The city's Downtown Design Review Board is to consider the project Aug. 24.

Goodman's switch from office to apartments makes sense, said land-use economist Matthew Gardner.

While downtown office vacancies remain high, the high-end urban apartment market appears to be stabilizing, Gardner said, and it's much easier to get financing for apartment projects than other construction.

What's more, he added, Colman Tower probably won't be ready for tenants until at least late 2012 or early 2013, when the market may be healthier. "Goodman's timing is good," Gardner said.

Several new, large apartment projects have broken ground in Seattle in recent months despite the recession. Among them: Harbor Properties' Link Apartments in West Seattle, and Avalon Bay Communities' Avalon Queen Anne project in Lower Queen Anne.

At least one other downtown development proposal, Urban Visions' 35-story tower at Second Avenue and Pike Street, has been redesigned as an apartment project, in part to increase the likelihood of obtaining financing. Urban Visions' original plan was for a luxury hotel and condos.

The Alaskan Way Viaduct separates Goodman's Colman Tower property from the waterfront. If that aging roadway is demolished, Goodman could be sitting on a gold mine, Gardner said:

"Will (demolition of the Viaduct) increase property values exponentially? Absolutely."

The city's conceptional plans call for a waterfront boulevard and new public spaces once the viaduct is torn down. But, according to the state Department of Transportation's most recent plan, demolition won't occur until at least 2016, after a tunnel is built to replace the elevated highway. And the tunnel, which still faces political obstacles, is no sure thing.

Seattle-based Goodman Real Estate was founded by John Goodman in 1990. Its assets include more than 34,000 apartments and 2.5 million square feet of office and retail space, according to the firm's website.

Eric Pryne: 206-464-2231 or epryne@seattletimes.com

http://seattletimes.nwsource.com/htm...goodman04.html

[alexjonlin]

Sweeeeeet. The area between 1st and the Waterfront will hopefully see a lot of investment as the viaduct comes down, with a mix of infill high-rises and old factories and warehouses refurbished into hipster lofts. Right now it's kinda sketch, but with the viaduct and all of its ramps gone, it'll be very desirable.

[jessejb]

Good news- they turned the "heckling roost" in Westlake Park into a planter box! hah!

[PDXPaul]

Apartments are the strongest part of the real estate market these days, right?

[meku]

Seems that way.

[Seasun]

Originally Posted by jessejb

Good news- they turned the "heckling roost" in Westlake Park into a planter box! hah!

Is that what you call the stage thing? Never was really a stage as it's not accessible to wheelchairs or large enough for much of anything. I'll have to check it out later today.

[jessejb]

Originally Posted by Seasun

Is that what you call the stage thing? Never was really a stage as it's not accessible to wheelchairs or large enough for much of anything. I'll have to check it out later today.

Yeah that concrete ledge built for teenagers with penchants for littering and hating their fathers for everyone to see. Gone! Hoorah!

[CrazyAboutCities]

I just saw that today. Did the City of Seattle officials trying to get rid of that kind of crowds by built the planter box on it?

I also saw little construction site on Westlake Plaza today. What are they working on?

[jessejb]

Good thinking by Seattle for doing that. With that, the McGraw square thing, all the redevelopment with Pike Street, etc. for once I actually feel like there is some real competency at work improving our city in some big ways. Im excited to see how it all pans out.

[geoffloftus]

When was the last time that there were no construction cranes visible as you pass through Seattle on I5?

[mhays]

The mid-90s was pretty damn slow.

[bgwah]

Does anyone have any news on the proposal for 16 story buildings by the Roosevelt light rail station? I thought I read somewhere that the NIMBYs managed to kill it, but I'm not sure.

[BoulderGrad]

Originally Posted by bgwah

Does anyone have any news on the proposal for 16 story buildings by the Roosevelt light rail station? I thought I read somewhere that the NIMBYs managed to kill it, but I'm not sure.

They Rooselvelt Neighborhood Assoc convinced the city council to not give any further consideration to the Roosevelt Development Group's (the guys building the tower) amendment to the comprehensive neighborhood plan. That more puts up a very tough obstacle rather than a death sentence at this point, but not looking good for RDG.
http://www.king5.com/news/Ravenna-ro...-99900974.html

I wouldn't characterize this group as NIMBY's or anti development. They pushed to have the light rail station in the center of Roosevelt rather than by the freeway. They helped push through an apartment complex that was being held up because of a tree on the property (but unfortunately the economy killed it soon after). They have a very specific plan for how their neighborhood should grow. It involves lots of 4-6 story buildings surrounding the light rail station. It doesn't involve 16 story towers. I'm fine with that in that part of the city. Lets fill the empty space in the U-district with 16 story towers first.

I grow a little tired of the hard-on for height some forumers here seem to have. Not that I would mind having some tall buildings around, but whats the point at this point? Your city would be filled with dozens of tall pretty towers with nobody in them and lots of broke developers (take a stroll around the cities surrounding Vancouver and you'll see what I mean). For now I'd prefer a European style street with lots of closely packed breadboxes filling every square inch. Once we get to that point, then we can start talking about building up everywhere.

[mhays]

I'd like to see some truly dense subcenters. Highrises, if wide/close enough, can provide much more density than breadloaves. Highrises can also give a neighborhoods a sense of urbanity and significance beyond what lowrises can do.

As for empty buildings, that's a very temporary condition. It even has a silver lining...when buildings are empty, someone gets to move in at steep discount.

That said, I'd love to see Seattle's urban villages blanketed in breadloaves.

[bgwah]

Originally Posted by BoulderGrad

They Rooselvelt Neighborhood Assoc convinced the city council to not give any further consideration to the Roosevelt Development Group's (the guys building the tower) amendment to the comprehensive neighborhood plan. That more puts up a very tough obstacle rather than a death sentence at this point, but not looking good for RDG.
http://www.king5.com/news/Ravenna-ro...-99900974.html

I wouldn't characterize this group as NIMBY's or anti development. They pushed to have the light rail station in the center of Roosevelt rather than by the freeway. They helped push through an apartment complex that was being held up because of a tree on the property (but unfortunately the economy killed it soon after). They have a very specific plan for how their neighborhood should grow. It involves lots of 4-6 story buildings surrounding the light rail station. It doesn't involve 16 story towers. I'm fine with that in that part of the city. Lets fill the empty space in the U-district with 16 story towers first.

I grow a little tired of the hard-on for height some forumers here seem to have. Not that I would mind having some tall buildings around, but whats the point at this point? Your city would be filled with dozens of tall pretty towers with nobody in them and lots of broke developers (take a stroll around the cities surrounding Vancouver and you'll see what I mean). For now I'd prefer a European style street with lots of closely packed breadboxes filling every square inch. Once we get to that point, then we can start talking about building up everywhere.

I suppose I just figure if you spend what, ten figures on light rail, you might as well encourage high density around the stations to accommodate the hundreds of thousands of people who will be joining our region in the coming decades.

And Hugh Sisley going bankrupt would be a good thing in my book.

[Vashon118]

The site where Nelson's Hardware once was is for sale.

[CrazyAboutCities]

I noticed there some abandoned buildings are being demolished on N. Westlake Ave. Anyone knows what going on these site?

[Seasun]

If you can provide a cross street or landmark along Westlake Ave North I might be able to provide some info about buildings being demolished. You're not talking about the Mercer Street project?

[Grayproduct]

Across the street from the AGC building. I'll get some pictures Monday.