In November, CHS reported on the next wave of big apartment projects slated to continue transforming Capitol Hill in 2013 and beyond. We’ve learned of one more for the list.
Purchased by a real estate investment trust in 2007 and already rejected as an official city landmark, the 1900-era building at 1200 E Pike should see a restart of development activity in the coming year.
“Capitol Hill’s a great neighborhood,” a representative for Tarragon tells CHS. The development and construction management wing of privately-held Investco Financial Corporation is beginning the process of pushing plans forward to develop the corner of 12th and Pike and join the steady flow of new projects on the Hill.
The Tarragon representative said it’s too early to talk specific details of the coming project as the design process is not yet completed. She could not yet confirm whether the project will be planned to take advantage of the Pike/Pine neighborhood’s incentive program that allows developers to build extra height in their projects in return for preserving architectural elements of “character” structures — often, Capitol Hill’s last vestiges of the auto row-era past.
In 2011, a long, drawn-out process came to an end with the Seattle Landmark Preservation Board rejecting Investco’s request for landmark status for the building originally constructed in the early 1900s as a home and transformed over the years into one of the area’s first examples of mixed-use living. While the property does not appear on the Department of Planning and Development’s roster of character structures subject to special protections for developers seeking preservation bonuses, it is listed in the DPD’s “transfer of development potential” roster of Pike/Pine properties. The board cited “integrity” issues when deeming the structure unfit for landmark status noting the significant amount of changes it has undergone both inside and out since first erected in 1903.
This week, by the way, will bring a design review for the latest preservation-minded Capitol Hill development as the plan to transform the old Hollywood Video building into lofts will come in front of the design board Wednesday night. That project falls outside the Pike/Pine preservation overlay district, by the way.
Currently home to Bombay Bistro , the corner of 12th and Pike has hosted a steady succession of restaurants over the past decade as well as the neighboring B&W Antiques. Above, the handful of living units provide one of the more unique living arrangements left in Pike/Pine.
Investco paid $3.2 million for the property in 2007.