Belltown Development News and Photos

[meku]

Speedy! I like that.

[Rogue Linguist]

Yesss. Density. Love the look of it in its context.

[BellevueBoy]

Third and Cedar starting next week
http://www.djc.com/news/re/12043745.html

It's always good to see new projects on Third as that has always been one of the more sketchy thoroughfares in downtown. Wasn't the half block between Wall and Battery supposed to get a midrise office building?

[LCIII]

[Ruffhauser]

Originally Posted by BellevueBoy

Third and Cedar starting next week
http://www.djc.com/news/re/12043745.html

It's always good to see new projects on Third as that has always been one of the more sketchy thoroughfares in downtown. Wasn't the half block between Wall and Battery supposed to get a midrise office building?

The full article.

August 8, 2012

Wood Partners buys Belltown site for 298-unit apartment tower
By MARC STILES
Journal Staff Reporter

Records show that on Monday Wood Partners paid $13.2 million for a Belltown site where it plans a 27-story apartment project.

A source who asked not to be named says the company will start construction within a week, with Prudential as the equity partner and JP Morgan Chase as the construction lender.

The seller is Third & Cedar LLC, which is led by investor/developers Jon Breiner and Ed Hewson.

The property is at the southwest corner of Third Avenue and Cedar Street. Breiner and Hewson bought it three years ago for nearly $3.4 million cash, and began seeking permits.

A small office building sits on the quarter-block site. On Monday, the city issued a permit to demolish the building. A week before, the city issued a master-use permit for the 298-unit tower, with about 900 square feet of retail and 191 stalls of underground parking on six levels. A construction permit application was filed in June.

The permits list Anderson Construction Group of Seattle as the contractor. Hewitt was the initial architect and continues to work on the project with KPFF as structural engineer, Geo Engineers for geotechnical work, and Permit Consultants Northwest.

Hewson and Breiner declined to comment on the sale, and Steve Orser of Wood Partners also declined.

The site is across the street from Alto, Harbor Urban's new 17-story apartment project. A Harbor Urban spokesperson said all 184 units have been leased.

Atlanta-based Wood Partners last year was ranked as the nation's top multifamily developer, with 3,750 units started. The company opened a Seattle office in 2010, intending to buy urban sites in Seattle and Portland for market-rate and workforce housing.

Its first Seattle project is the 91-unit Jasper by Alta in Wedgwood. When the project opened last month, Wood officials said it was more than half leased.

A year ago, Hewson and Breiner paid $5.5 million for a quarter-block site south of where the 27-story project is planned. A Rite Aid is located there. At the time, Hewson said Rite Aid has a long-term lease, so his company would not be redeveloping it anytime soon. Records show that Hewson and Breiner still own the property.

To permit Wood Partners to move forward with the apartment tower, Hewson and Breiner granted Wood a “seismic sway and no build easement” for the Rite Aid property.

[CityView Jim]

Thanks, Ruff.

I wonder if they meant 6 levels of ABOVE ground parking. From the picture it looks like the design includes this.

[CrazyAboutCities]

Finally! I just wondered about that last week ago when I passed that site.

[LCIII]

I wasn't expecting this one anytime soon. But I suppose if Alto is already 100% leased then maybe they're smart to get it built ASAP.

[Ruffhauser]

The timing of this one caught me off guard as well. It was one of those projects I had relegated to the "when I see the dirt move I'll believe it" file.

What is to happen with the existing Rite-Aid will be most interesting.

[mhays]

Building permits are a good way to keep track of what could start when. I'm not an expert, but maybe four months from application for a shoring permit they'll get the permit and start digging. Demo permits are probably quicker. This project appears to be on schedule based on permit info. Hint...for each permit, look under "reviews" to see a little more about status.

As for Rite Aid, they'll lose some pedestrian traffic if the sidewalk is blocked during demo and portions of construction.

On a similar note, 815 Pine is getting a revised shoring permit related to protecting the convention center. Lots of info available if you have 10 minutes. The delay might be the permit, rather than scarier stuff like financing.

[BellevueBoy]

I like how there appears to be a rooftop community space. Not too many highrises (20+ floors) have that amenity.

Is there a proposal for the former McGuire Apartments site?

[LCIII]

Update on the Belltown Community Center and what it will have to offer *http://t.co/jfOuWOXT

[BoulderGrad]

Originally Posted by CityView Jim

Thanks, Ruff.

I wonder if they meant 6 levels of ABOVE ground parking. From the picture it looks like the design includes this.

Design review docs for 225 Cedar:
http://www.seattle.gov/dpd/AppDocs/G...endaID3273.pdf

No above ground parking. 2nd floor and above is all apartments and amenities for the building.

[Rogue Linguist]

Originally Posted by LCIII

Update on the Belltown Community Center and what it will have to offer *http://t.co/jfOuWOXT

So residents will be able to access the community center for private functions outside of those extremely limited hours of operation?

[alexjonlin]

Oh damn that's awesome. I'm pretty excited for this project. Although, too bad Alto residents are losing their view a couple years after the project opened. I think the developers mentioned in the article, Breiner and Hewson, are the ones who are doing the large developments in Roosevelt.

[alexjonlin]

Also, it seems like it's been a very long time since I last heard anything about the Bell Street Park project, so I looked it up and the latest news says that they finished 90% design in May and should be starting construction in the fall with completion in early to mid 2013.

[Rogue Linguist]

Originally Posted by alexjonlin

Also, it seems like it's been a very long time since I last heard anything about the Bell Street Park project, so I looked it up and the latest news says that they finished 90% design in May and should be starting construction in the fall with completion in early to mid 2013.

I can't wait. That park will make that street so much more inviting.

[mhays]

Demo guys are onsite at 225 Cedar.

It's not safe to call that "underway." But in my mind, that's seven highrise residential buildings underway in Belltown, counting the first tower at Insignia.

[LCIII]

Well Insignia is actually in the Denny Triangle but still that leaves 6 highrise residential buildings underway in Belltown- impressive!

[CrazyAboutCities]

Last time Belltown had that many high rises under construction at same time was early 2000 to mid 2000 correct?