[SeattleHusky82]

This proposal popped up on the DPD site today. The site is currently a surface lot and was once poised for a monorail station. The monorail group sold the parcel to a New York developer during the fire sale following the demise of the monorail proposal. It's a great site and the project mix sounds right for the location but with other hotel/condo hybrids such as the 1 Hotel and 8th & Pine still in the pipeline, I wouldn't expect to see this project start till at least 2009.

PROJECT DESCRIPTION

The proposal is for a 46-story building containing hotel rooms, residential units and retail with underground parking.

http://www.seattle.gov/dpd/luib/3005557.jpg

[seaskyfan]

Sounds great. So that's two towers that will be on that one block (that and Escala).

[JiminyCricket II]

the hotel part would be fine, it actually seems dt seattle has too few rooms even with the current wave u/c. though if the high end condo market becomes more saturated it could kill the project.

this could be a 500 footer!

[seaskyfan]

Interesting how this doesn't seem like that big a deal - I guess we're getting used to pretty frequent tower announcements.

[James Bond Agent 007]

^
I was just thinking the same thing. When I saw the thread title, I thought, "Ho hum, another 40+ story condo tower."

[mSeattle]

I took note that it would be taller than anything proposed now. Wish it were on First Hill or higher on the Belltown ridge to take advantage of that.

[dad2two]

Seems odd that there would be a 46 story tower on less than a quarter block, plus one that will have a tower on it already. It's going to have to be really skinny... and it's going to be tough to get any kind of effiecint parking. It would be great to fill in that surface lot. Its a great location but I'm skeptical that gets built. Hope I'm wrong though.

[mhays]

It sounds like the same height as the Schnitzer office tower at 8th & Virginia, 500'.

[northface]

im waiting for a 50 or taller tower proposal.....**yawn**...lol

[seapug]

i think they could deffinitely build something that skinny. that was part of why they implemented the new zoning regulations is so that the new towers could be taller and skinnier. lots of cities have stuff skinnier then that it's just new to seattle. look at this one in toronto. http://www.emporis.com/en/il/im/?id=460037

i think we could get a 50+ anytime, the proposals we've been getting are gradually getting taller and taller

[dad2two]

The economics of a skinny tower are more difficult to work out. Less units per floor, more floors of parking. I think a skinny tower is better looking but i just don't know if the economics of it will work.

[sirsimon]

Isn't one of the issues with building a really tall, skinny tower finding room for the number elevators necessary to efficiently service the building?

I saw one of those "the way things work" type shows some time ago and they suggested that 1 elevator per 10 floors is considered the absolute minimum.

Either way, awesome news for Seattle! Your skyline will be crazy in the next 5 years.

[mSeattle]

It appears that a Westin tower could fit on this site with room left. How tall is the taller Westin tower?

[Capitol Hill]

450 feet

[Hoodrat]

The westin is awsome, one of Seattle's best.

[SeattleHusky82]

thanks to BellevueBoss over at the SSC forum for posting this:

46-story mixed-use tower eyed for site at Fifth and Stewart
By LYNN PORTER
Journal Real Estate Editor

An application for design review has been filed with the Seattle planning department for a 46-story hotel/residential/retail project at Fifth Avenue and Stewart Street across from the Westin Seattle.

As planned, the project at 1903 Fifth Ave. will have 175 hotel rooms, 190 residential units, about 13,000 square feet of retail and 250 underground parking stalls.

An early design guidance meeting has been set for 7 p.m. on Feb. 27 at City Hall, in Room L280.

It was unclear Friday who the developer is. But the applicant contact is Steven Gestetner, a vice president with Multi Capital, a privately held New York City investment banking firm that owns the site. The project architect, Ismael Leyva Architects of New York, lists Multi Capital as its client. Bumgardner of Seattle is listed as the architect's agent.

The site is one of three parcels on the block of Fifth between Virginia and Stewart streets that Multi Capital bought for $15 million from the Seattle Monorail Project last year.

Gestetner didn't return a call for comment Friday. He said recently that the Fifth and Stewart site — now a parking lot — would likely be the first of the three developed. However, he also said he didn't see construction of any of the sites moving forward during this development cycle. “There's a lot of supply coming on. We probably want to look at the next wave.”

Alan Justad, a spokesperson for the city's Department of Planning and Development, said no residential building has been constructed to this height in downtown Seattle. But he said other planned projects are taking advantage of recent zoning changes allowing for taller buildings.

“This is definitely part of the new generation of residential towers,” he said.

Those projects put housing near jobs, helping to reduce commutes and pollution, he said.

“This is smart growth at work,” said Justad.

Among the super-tall buildings on the horizon is the 39-story Olive 8 at Olive Way and Eighth Avenue. The developer, Seattle-based R.C. Hedreen Co., has said it will be the tallest residential tower in the city when it opens in the summer of 2008.

The 38-story Fifteen Twenty-One Second Avenue condo project is under construction at Second Avenue, between Pike and Pine streets. It is an Opus Northwest and William Justen project.

Planned projects include one by British Columbia-based Embassy Development Corp. The company has said it intends to start construction this year on the first of two 40-story condo towers on a full block between Fifth and Sixth avenues and Battery and Bell streets.

Also, Seattle-based Fana Capital Corp. and the Executive Group of Vancouver, B.C., have said they are planning a 45-story condo/boutique hotel at Eighth Avenue and Pine Street.

[mSeattle]

Two or three of their highrise residential projects look really good.

[seapug]

any links?

[mSeattle]

Here http://www.ilarch.com/

[NW Mike]

1903 fifth Ave
Example of what it could look like
http://aycu11.webshots.com/image/9570/2001964219683471670_rs.jpg (http://allyoucanupload.webshots.com/v/2001964219683471670)
They have some nice highrises. I really hope they go mad with the design. I want to see something that looks like its from Dubai.

[James Bond Agent 007]

^
Cool! :D

Did you draw that?

[seaskyfan]

^ It's from the Architect's website. Looks like they know how to do skinny!

[mSeattle]

That's skinny! I hope there's a hot design on that spot too.

[bgwah]

Wow! That is as thin as those short 4 story buildings. I like it.

[SeattleHusky82]

I didn't think this project would start anytime soon but I guess the developer has other thoughts in mind. From today's DJC:

Upscale hotel/condo tower expected to be under way soon

By LYNN PORTER

Construction is expected to begin within a year on a 46-story project that will include a 175-room five-star hotel and about 200 upscale condos at Fifth Avenue and Stewart Street across from the Westin, the senior project manager said yesterday.

Either this tower is going to be really slim or the units and hotel rooms are going to be very large. Probably a combination of both. In comparison, the 39-story Olive 8 has 350 hotel rooms and 198 condos.

[JiminyCricket II]

^nice! perhaps mhays (or someone else with a subscription) could tell us a little more detail about the timeline we are talking about?? :D

[NW Mike]

I wish I made that rendering! The Architects website has a few building that I thik would fit in nicely at that location. I had a feeling this one was coming on line soon.

[mhays]

They're talking about starting in about a year.

[Hoodrat]

1903 fifth Ave
Example of what it could look like
http://aycu11.webshots.com/image/9570/2001964219683471670_rs.jpg (http://allyoucanupload.webshots.com/v/2001964219683471670)
They have some nice highrises. I really hope they go mad with the design. I want to see something that looks like its from Dubai.

Is that the Saya?

[NW Mike]

I can not find any info on this building.It must be something proposed. It says NewYork Residential Tower on the website. http://www.ilarch.com/projects/newproj121106.html

There is nothing in Emporis, but it is not Saya.
I just like the footprint the building is sitting on. Maybe about 35ft wide.

[JiminyCricket II]

They're talking about starting in about a year.

thanks. but i guess now that i've read it again, it says "within a year" in the first sentence... that was my :dunce: comment for the day.

[Bear]

thanks. but i guess now that i've read it again, it says "within a year" in the first sentence... that was my :dunce: comment for the day.


Out of town money, out of town architect, small site bordered by bus lines and and a monorail. I smell major trouble on this one - I do not think these guys really know what they are getting themselves into. Probably just a place to park money for a while and collect fees. I hear the land is being contributed at a huge number

[mhays]

They have local talent on their staff. Certainly a plus.

[SeattleBoy]

The small site is in a very desirable place bordering on the shopping district and Belltown. The Monorail was long ago proven not be an undesirable neighbor and in fact many buildings have gone up in just these past years along 5th Avenue. Paul Allen is building the Martin on 5th avenue right along side the monorail. As for out of town developers and money, it seems that a good portion of the new developments being built or planned are from groups out of state, including Vancouver BC, Los Angeles & New York. I hope it gets built. Seattle is now an incredibaly desireable investment market for office & residential development. It would be great to have an ultra skinny tower in the city.

[mSeattle]

I'd like to see a very skinny tower too, ideally with a mid-rise on one or both sides. I don't know, just makes me feel more comfortable about seismic stuff.

[NW Mike]

Do not worry about Seismic issues mSeattle. That is the least of their worries.
These new skinny towers are much stronger than any old block fattys. I would be worried living in Olive 8 and having that concrete block next door when a big quake hits. All that old concrete splintering like bombs blowing holes through such a nice building. Old buildings are the problem!.....Raze them and build up!...*L*
http://aycu19.webshots.com/image/11138/2003057782776884499_rs.jpg (http://allyoucanupload.webshots.com/v/2003057782776884499)

[Bear]

The small site is in a very desirable place bordering on the shopping district and Belltown. The Monorail was long ago proven not be an undesirable neighbor and in fact many buildings have gone up in just these past years along 5th Avenue. Paul Allen is building the Martin on 5th avenue right along side the monorail. As for out of town developers and money, it seems that a good portion of the new developments being built or planned are from groups out of state, including Vancouver BC, Los Angeles & New York. I hope it gets built. Seattle is now an incredibaly desireable investment market for office & residential development. It would be great to have an ultra skinny tower in the city.

Yes these are all wonderful things, I am not concerned about the monorail as a neighber, I am concerned that it is a very tough site to build on and this is not New York - the City will take a while to permit this, which will drive up costs and the construction is going to require a luffing crane and their parking system will also add costs, all of these costs, piled on top of expensive land and a low efficiency ratio created by fewer condo floors per unit will make this a super expensive building to live in, which will be competing with 1521, Enso and Escala for the same buyer pool. As for the Martin, nothing is happening there in the near future

[mhays]

Yes, but with a site like that they can charge a premium. And it would be at least 1.5 years (guessing) apart from 1521, so not as much in direct competition.

As people move into the current projects, Downtown will become more attractive. Due to this, I think we'll have a net addition of residents every year, aside from crashes of the dot-bomb variety. So even if we have plenty of supply coming online in the next 24 months, assuming we don't get overbuilt, we'll need more supply a year farther out.

[Capitol Hill]

There was a lot of noise a few years ago about streamlining the permit process in Seattle. Did anything happen with that, other than a lot of air moving acros a lot of politicians vocal cords?