Seattle: University of Washington plans 50-story tower on downtown block

May 11, 2014

Business, Educational

Seattle: University of Washington plans 50-story tower on downtown block
The University of Washington’s Board of Regents approved a historic deal to replace the Rainier Square retail mall with an office and hotel complex, transforming a prime downtown tract.

By Sanjay Bhatt
Seattle Times

SEATTLE- Under an 80-year ground lease, Wright Runstad will develop and manage a 50-story tower that will house 750,000 square feet of offices, at least 182 apartments, and 30,000 square feet of ground-floor retail. The developer also will develop and manage a 15-story luxury hotel with 198 rooms.

The 1.15 million-square-foot complex would replace Rainier Square, the retail mall that takes up most of the block between Fourth and Fifth avenues and Union and University streets. The mall and adjacent Rainier Tower, notable for its tapering pedestal, were built in 1978.
____________

University of Washington’s development plans for Rainier Square

Source: Wright Runstad & Company

On May 8, 2014 the University of Washington Board of Regents approved the selection of Wright Runstad & Company to redevelop Rainier Square, a 140,000 square foot retail property that is part of the University’s Metropolitan Tract in downtown Seattle.

Wright Runstad & Company was selected through a competitive process managed by the University of Washington.

The 1.15 million square foot project will include a tower of more than 50 stories containing 750,000 square feet of office space and approximately 240 apartment units on its uppermost floors with 360 degree unobstructed views.

The project will also include a separate 15-story 4-star hotel, as well as 30,000 square feet of distinctive restaurants and retail shops. The Fifth and Union corner will be a signature space for a distinctive national or international retailer that can also offer access to upper floors creating a large anchor retail opportunity. Parking for 1,200 cars will be constructed below grade.

Plans call for obtaining a Master Use Permit this fall and starting construction in the second half of 2015 with completion scheduled for late 2017.

Maximizing the development capacity of the project is dictated by its preeminent location in the heart of Seattle’s downtown core with superb proximity to transit, the arts, shopping, hotels, major office buildings and the convention center. The project’s design is both inspired by, and respectful of, the existing Rainier Tower, whose distinctive curved base has made it one of Seattle’s iconic buildings. The project’s new landmark tower makes a bold step towards the future of Seattle’s architectural and urban character.

The University of Washington owns the Metropolitan Tract in downtown Seattle, containing approximately 11 acres, or more than four city blocks, where the original University was located before moving to its present location in 1895.

In addition to Rainier Square, the Tract includes landmark buildings such as Rainier Tower, the Fairmont Olympic Hotel and the IBM Building.
____________

University of Washington’s Rainier Square
Rainier Square

Rainier Square

Rainier Square

Rainier Square

Rainier Square

Rainier Square
___________
Rainier Square

Rainier Square
___________
Seattle

Seattle downtown

Seattle Space Needle

Seattle Downtown

Seattle
______________
University of Washington

University of Washington

University of Washington

University of Washington

University of Washington

University of Washington Husky Stadium

About Dilemma X

Dilemma X, LLC provides research dedicated to the progression of economic development. Our services aid clients in enhancing overall production statistics. Please visit http://www.dilemma-x.com for more information

View all posts by Dilemma X

Subscribe

Subscribe to our RSS feed and social profiles to receive updates.

No comments yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: