Denny Triangle Projects

[Rogue Linguist]

Boston-based GID to build 39-story apartment tower near Amazon HQ

By LYNN PORTER

Journal Staff Reporter

Next spring, GID of Boston plans to start building a 39-story, 355-unit apartment tower in Seattle's Denny Triangle near Amazon.com's planned new campus.

The 355 units will be larger and more upscale than other downtown apartments, aimed at both tech workers and empty nesters. Next spring, GID of Boston plans to start building a 39-story, 355-unit apartment tower in Seattle's Denny Triangle near Amazon.com's planned new campus.

http://www.djc.com/news/ae/12045289.html

[LCIII]

[Ruffhauser]

The article, from todays DJC.

http://www.djc.com/news/ae/12045289.html

September 24, 2012

Boston-based GID to build 39-story apartment tower near Amazon HQ
By LYNN PORTER
Journal Staff Reporter

Next spring, GID of Boston plans to start building a 39-story, 355-unit apartment tower in Seattle's Denny Triangle near Amazon.com's planned new campus.

Blaine Weber, a senior principal with the project architect Weber Thompson of Seattle, said the tower at 2030 Eighth Ave. is expected to open in 2015.

It was planned as condos by Cascadia Holdings LLC, a group of local businessmen that own the site.

Weber Thompson designed that project, and then retooled it as apartments. The firm also is the interior designer and landscape architect.

The engineers are Magnusson Klemencic Associates, structural; KPFF, civil; and Rushing, MEP. Morrison Hershfield is the envelope specialist. A contractor has been selected, but not announced.

Weber said the building will be almost across the street from Amazon's planned 3 million-square-foot campus.

He said the apartments will be larger than many constructed lately in downtown Seattle or that are in the pipeline — units generally geared toward Generation Y. “This is more of an upscale project.”

The complex will have about 250 parking stalls on five levels underground and four above ground, where there will also be work studios.

It will have an expansive rooftop amenity space with a garden terrace, owners' lounge, workout facility and meeting rooms.

Weber said downtown technology workers and empty nesters will be among those targeted as renters.

With the wave of apartment construction that has hit Seattle in recent years, some analysts have predicted a bubble.

Weber said many of the projects are designed to rent at more affordable prices, but “the speculation is that there will be unmet demand for those larger units with more generous space and amenities.” He said he expects growing demand from people who want a simpler life downtown. “I predict we will have trouble keeping up with the demand for good rental housing in downtown Seattle,” he said.

Patrick Foley, a principal with Lake Union Partners Seattle, said GID has the development site under contract from Cascadia. Lake Union is a for-fee developer hired by Cascadia to get the project entitled.

Cascadia is made up of Evan McMullen, Ian Eisenberg and Shawn Dougherty.

Foley said the businessmen bought the property about 10 years ago, “and it's time to get a return on their investment.”

The site is 15,400 square feet and has an old auto showroom on it. The building was nominated for city landmark status, but was not deemed a landmark, Foley said.

He said he doesn't know the sale price for the site.

The General Investment & Development Companies (GID) are diversified investment companies, according to the company website.

Over its 52-year history, GID has developed and acquired real estate, including homes, resort condos, apartments, suburban office properties, research and development properties, flex industrial parks, limited-service hotels and historic commercial property.

GID could not be reached for comment late Friday.

[LCIII]

September 25, 2012

R.C. Hedreen buys more at 8th & Howell
By JOURNAL STAFF
An entity of the R.C. Hedreen Co. on Monday bought the Ray and Bonair apartment buildings at Eighth Avenue and Howell Street in Seattle for $7 million, according to property records.

The seller is Kohl & Kohl Inc. and RRLL LLC.


*
. . .

[Ruffhauser]

Originally Posted by LCIII

September 25, 2012

R.C. Hedreen buys more at 8th & Howell
By JOURNAL STAFF
An entity of the R.C. Hedreen Co. on Monday bought the Ray and Bonair apartment buildings at Eighth Avenue and Howell Street in Seattle for $7 million, according to property records.

The seller is Kohl & Kohl Inc. and RRLL LLC.


*
. . .

I hope it is not their intention to knock down the Bonair building and build this hotel they have planned, especially with a tasty parking lot right down the street behind the Greyhound station.

[Ruffhauser]

Originally Posted by Ruffhauser

I hope it is not their intention to knock down the Bonair building and build this hotel they have planned, especially with a tasty parking lot right down the street behind the Greyhound station.

So much for that idea. Looks like the Ray/Bonair have a bullseye right on them.

The full article as LCIII mentioned, from todays DJC.

http://www.djc.com/news/re/12045362.html

September 25, 2012

R.C. Hedreen buys more at 8th & Howell
By JOURNAL STAFF
An entity of the R.C. Hedreen Co. on Monday bought the Ray and Bonair apartment buildings at Eighth Avenue and Howell Street in Seattle for $7 million, according to property records.

The seller is Kohl & Kohl Inc. and RRLL LLC.

The five-story Bonair dates from 1925, according to a report compiled for the Seattle Department of Neighborhoods. The adjacent Ray, formerly the Ray Hotel, dates from 1909. Together they have 48 units.

King County assesses the two buildings at $5.5 million.

Hedreen, a Seattle developer, said in July that it was wrapping up the acquisition of a block between Howell and Stewart streets and Eighth and Ninth avenues for a two-tower complex with a hotel and office space, although it may just build a hotel.

Hedreen could not be reached for comment Monday.

The Bonair and Ray buildings were recently brought before the city Landmarks Preservation Board to be considered as landmarks. The board did not approve the nomination.

[Matt the Engineer]

Ouch. But considering the LPB had a chance to save it, I suppose this is the way preservation is supposed to work. We shouldn't save everything, and at least we have a process to try and save the best buildings.

[bgwah]

Developers once again fail to understand what makes a neighborhood desirable.

[BoulderGrad]

edit: Previous statement retracted, talking about the wrong building

[mSeattle]

I hope they preserve that 1920s building. Seattle has so few good old buildings in that area. They add character and actual history, but maybe it will be out of place with the probably bland, flat-surface convention-hotel/offices they have planned?

[Matt the Engineer]

Even if they don't keep these buildings, I'm a fan of facadism as a slightly better alternative to demolition. Even a little enterance can make a big difference in a block.

[RMacherat]

While I'm a big fan of the old stuff, these two buildings really are pretty marginal considering the immediate neighborhood.

[meku]

The loss of the art-deco building sucks, but like some said, can't save them all and considering the immediate neighborhood (towers, be it full, half or some quarter-block) this should fit right it.

[mhays]

Seattle's Floor Area Ratio (FAR) requirements are a problem, generally speaking. Anything commercial has a FAR limit. More land means a larger denominator, so more space is allowed in the new building.

I don't know the code, but there should be some bonus for saving pre-war buildings that would offset the FAR issue. For example, if you buy development rights from the old building or buy the building outright, you get to use that land in your calculation, but don't have to count the existing building area in your calculation. The end result might be the same new towers but an old building or two staying on one corner. Depending on proximity of new construction, they might not even have to vacate.

[Matt the Engineer]

Love this idea. Of course, I'd prefer to just kill our FAR requirements completely (or at least greatly increase them) so that we could build new buildings like we used to build old buildings. But I'd happily take your proposal as a compromise.

[mhays]

In this city, any increase in FAR would have to come with some punishment for the big bad developers. I'd love it too but don't see it happening.

[LCIII]

Originally Posted by Ruffhauser

I hope it is not their intention to knock down the Bonair building and build this hotel they have planned, especially with a tasty parking lot right down the street behind the Greyhound station.

I hope they come down. They are dime-a-dozen boxes and we have plenty of them throughout the city. I want this area dense with towers in all directions. If they do the multiple tower plan they have discussed then they'll need this land AND the parking lot AND the greyhound depot space.

[LCIII]

September 26, 2012

Convention center expansion figures into Hedreen's plan
By LYNN PORTER
Journal Staff Reporter
The Washington State Convention Center is in preliminary discussions with King County about building a 285,000-square-foot expansion in downtown Seattle over the Convention Place Transit Center, between Olive Way, Pine Street and Ninth and Boren avenues.

...

http://www.djc.com/news/re/12045422.html?cgi=yes

[alexjonlin]

You really do need a mix of totally different types and eras of buildings to make a neighborhood livable. I like the idea of a TDR program for urban historic preservation.

And my god the convention center expansion over Convention Place Station is moving forward? Damn that neighborhood is changing so fast, I hope the sidewalks start to fill up and the street become more vibrant. It seems like the mix of hotels, office, and residential should keep activity levels high all day long.

[Capitol Hill]

Originally Posted by alexjonlin

You really do need a mix of totally different types and eras of buildings to make a neighborhood livable. I like the idea of a TDR program for urban historic preservation.

And my god the convention center expansion over Convention Place Station is moving forward? Damn that neighborhood is changing so fast, I hope the sidewalks start to fill up and the street become more vibrant. It seems like the mix of hotels, office, and residential should keep activity levels high all day long.

This is the WSCTC jockying for the ability to issue bonds for an expansion. There is currently NO money for this. Don't get me wrong, I fully support it, but it is still in the 'tentative' stages.