An ambitious plan to redevelop part of Qwest Field's north parking lot, considered key to Seattle's Pioneer Square, should finally break ground this year, the developer says
An ambitious plan, years in the making, to redevelop part of Qwest Field’s sprawling north parking lot should finally break ground this year, the developer says.
Daniels Real Estate President Kevin Daniels said his firm expects to start environmental cleanup work on the four-acre property in late summer, then begin digging for the foundation of the project’s first phase by late fall.
First up: a four-story building at Occidental Avenue South and South King Street with 19,000 square feet of retail, 48 apartments and a garage with 360 to 380 stalls.
The building would serve as a podium, or base, for two towers — one an additional six stories, the other an additional 21 floors — with 444 more apartments.
Most Read Stories
- Seahawks, Titans only teams to both not take the field during day of anthem protests across NFL WATCH
- A daring betrayal helped wipe out Cali cocaine cartel
- Huskies get first test of season out of the way and they aced it with win at Colorado | Larry Stone
- Analysis: Three things we learned from the Seahawks' 33-27 loss to the Tennessee Titans
- Pete Carroll responds to Trump comments, backs Seahawks: 'We stand for our players and their constitutional rights'
While construction of the podium is a near-certainty “subject to the world changing,” Daniels said, construction of the towers isn’t quite as solid. “We just want to see a couple more things from the [debt] market,” he said, noting that the project still must obtain construction financing.
But demand for apartments is surging while few new buildings are coming to market, he said, and that bodes well for apartment development for at least the next two or three years.
Altogether, Daniels has proposed 1.5 million square feet of development on the northern half of the north lot, including another 225-unit condo or apartment tower and a 420,000-square-foot office tower.
A decision on those phases won’t come until 2013 at the earliest, Daniels said.
The north lot redevelopment — especially its housing component — is considered a key to revitalizing the Pioneer Square neighborhood. King County, which owns the property, agreed to sell it to Daniels in 2007, and the Seattle City Council approved needed zoning changes two years later.
Eric Pryne: 206-464-2231 or firstname.lastname@example.org