HAL Real Estate Investments of Seattle has filed preliminary paperwork for a 40-story residential tower on Fourth Avenue in Belltown.
Another 400-foot residential tower has been proposed in Seattle’s Belltown neighborhood.
This one, on Fourth Avenue between Lenora and Blanchard streets, may feature something different: In what its backers call a “cultural response” to its next-door neighbor, the restored Cinerama Theatre, the project would include a “large-scale outdoor projection movie theater” on the roof.
The 40-story tower’s developer is HAL Real Estate Investments of Seattle, which bought the one-third-acre site for $5 million in May. An 80-year-old, one-story building on the property that now houses a transmission-repair shop would be demolished.
HAL President Dana Behar declined to discuss the project Friday. “We’re still in the very, very early stages,” he said.
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An application packet submitted to the Department of Planning and Development this week indicates the tower, at 2116 Fourth Ave., would have about 360 units, 2,200 square feet of ground-floor retail space and 12 levels of underground and above-ground parking containing 335 stalls.
The application doesn’t indicate whether the units would be apartments or condos.
The city’s Downtown Design Review Board, an advisory group, is tentatively scheduled to consider the project Sept. 9.
The City Council changed zoning in 2006 for much of Belltown and the Denny Triangle to permit residential towers up to 400 feet tall. Since then several developers have submitted plans that would take advantage of that change.
The Justen Co. and Columbia West have applied jointly to build two 400-foot towers on the northwest and southwest corners of Second Avenue and Virginia Street.
Intracorp, which received a city land-use permit for a 240-foot condo project on Second between Stewart and Virginia in 2006, now has proposed a 400-foot apartment tower on the site instead.
Another developer, Tarragon, has a land-use permit to build a 43-story apartment tower at Third Avenue and Virginia.
Murphy McCullough, senior development manager, said construction could start next year, depending on the market.
Several shorter projects also are in the works. Escala, a 31-story luxury-condominium project now under construction at Fourth and Virginia, is scheduled for completion next year.
The Pine Street Group is seeking permits for a 24-story apartment complex on Sixth Avenue between Lenora and Blanchard.
Paul Allen’s Vulcan Real Estate won a land-use permit in early 2007 for a 24-story condo project, dubbed The Martin, at Fifth Avenue and Lenora, on the same block as HAL’s proposed tower.
But a Vulcan representative said recently that the project has been on hold since late 2006 because of rising construction costs, and because Vulcan is focusing on its many projects in South Lake Union.
HAL Real Estate is a subsidiary of an international investment firm based in the Netherlands Antilles. It has been active in the Seattle area since 1993.
Eric Pryne: 206-464-2231 or email@example.com