Euro Krona-laden Swedish pension fund adviser Alecta and Seattle architects Weber Thompson are teaming up this week to present their plans for two 270-foot apartment towers on First Hill. Information on the first pass through the design review process for the projects is below.
Empowered by a recovering global economy, investors like Alecta have been aiming toward the sky on First Hill. Last April, the sky rush got started as this 16-story Madison apartment tower broke ground. That project is now moving into its marketing phase as Coppins Well with plans for its apartments and 6,000 square feet of Madison retail to be open by the end of summer. Existing properties are changing hands and some big tenants are moving in as Polyclinic has settled in at 7th and Madison. In January, CHS reported on this 300-foot tower planned for Seneca near freeway park.
Now come the twin Alecta projects — one on Seneca destined to replace a parking lot, the other on Terry destined to replace an existing — smaller, of course — 1959 apartment building. Both will be less than two blocks from the future First Hill streetcar line. And both are on the docket Wednesday night as representatives from Weber Thompson present their initial massing concepts to the East Design Review Board.
The preferred massing option for the 1321 Seneca building will certainly garner attention should the design ever see the light of a First Hill day. Designed as a staggered set of offset boxes, the preferred proposal will require a host of exceptions on zoning setback rules to be approved. The project is planned as a 23-story building with more than 200 apartment units and !,475 square-feet of retail or live/work space. Four levels of underground parking are planned.
Developer Alecta acquired the property in December 2010. In 2005, initial plans for another 22-story tower were filed for the site but that project — a 97-unit condo concept — was stopped in its tracks by the Great Recession. A developer had paid $10 million for the property and the condo plan in 2007. According to county records, Alecta acquired it two years ago for $4 million.
Project: 1321 Seneca St map
Review Meeting: May 2, 8:00 pm Seattle University Casey Building 901 12th Ave map Room 500 E – Casey Commons Review Phase: EDG–Early Design Guidance Project Number: 3012930 permit status | notice Planner: Bruce Rips
The Terry project is an even bigger job. Planned to hold a whopping 332 apartments and 4,700 square feet of retail space for cafes or markets, the preferred massing for Terry is a little less dramatic than its Seneca counterpart but the building will still cut an imposing figure in the sky only blocks from Harborview.
Like its Seneca acquisition, Alecta picked up the Terry property in December 2010, paying $5.4 million for the parcel.
Despite its proximity to the future streetcar line, the Terry project, like its Seneca twin, is also planned to include four levels of underground parking.
Project: 504 Terry Ave map
Review Meeting: May 2, 6:30 pm Seattle University Casey Building 901 12th Ave map Room 500 E – Casey Commons Review Phase: EDG–Early Design Guidance Project Number: 3012929 permit status | notice Planner: Bruce Rips