Even the most preservation-minded developers need a redevelopment plan. In a preliminary filing with the Department of Planning and Development, Hunters Capital has outlined possible plans for the H.E. Holmes building at 501 E Pike. You think seven-story projects are exciting? Try eight:
Demolition of an existing building but retain character structure facade. New construction (retain character structure facade) of an 8-story, 118 dwelling unit, mixed-use building with office on 2nd level and retail on ground level and underground parking.
A representative for Hunters described the status of the project as only in “feasibility levels” at this time and said the real estate investment company is considering its options for the 1925-built, auto row-era building it paid $5.3 million to acquire. While it’s early to dig through the details of the dense entry describing the early filing, the early plans do indicate Hunters Capital’s intention to take advantage of height incentives including the Pike Pike Conservation District overlay.
CHS reported on the developer’s acquisition of two auto row-era E Pike buildings — this H.E. Holmes building and the Greenus building directly across the street — to start 2013.
Hailed for its preservation of other area properties, Hunters has already announced its plans for the Greenus — home for one more week to 106-year-old Seattle business Brocklind’s. “We are planning on an immediate exterior rehab much like our 401 E Pine (Area 51) Building went through,” a company spokesperson told CHS. “The goal is to bring the building as closely back to its original look as possible. This will include a full brick and concrete restoration, new wood double hung windows, new roofing, flashings, refurbished street fronts, etc.”
As we previously reported, the Holmes building may be a more ripe candidate for a larger project:
The H.E. Holmes building has an even more diverse pedigree — Howell Motor Co, Seaboard Motors, British Cars of Seattle, Franklin Auto Agency, Import Motors and more over the years — and also may face a more heavy-handed overhaul. Hunters says it is happy to have acquired the building’s “ornate features” and unique “100% poured concrete walls and floors” but hasn’t yet said it is committing to a restoration of the building. A preservation-minded redevelopment may make more sense — and make better use of the 9,000 square feet of the property currently dedicated to a parking lot.
Turns out, that project might be an impressive eight stories high. Whichever way the demolition backhoes swing, it’s going to take months before the project gets anywhere close to a final plan.
A larger project would — like the Bauhaus block nomination process — likely mean a trip in front of the Seattle landmarks board for the Holmes.
In the meantime, the future for filling the big hole Brocklind’s will leave behind across the street on E Pike when it closes after its last day on February 16th is also coming into focus. Here’s the Hunters ad listing the property — “restaurant preferred”
Sq Footage 5,163DESCRIPTION
Prime Retail location on E. Pike Street in Pike Pine on Capitol Hill. Original auto showroom with floor-to-ceiling windows, exposed wood ceiling and beams. Entire 1st floor is available (10,000sf) or floor can be divided into two spaces, 5,163sf for restaurant and 3,948sf for retail. 14 foot ceilings, southwest exposure, seismically upgraded. Landlord will restore exterior by exposing original brick. See our website for other restoration projects. www.hunterscapital.com
– Corner Retail Space – Old timber beams and wood ceilings – Floor-to-ceiling show windows – 14 foot ceilings – Entrance on East Pike Street – South-West exposure – TI Allowance provided by Landlord
– Historic Building – Landlord will restore entire exterior – seismically upgraded
5 Years – Restaurant preferred
Contact info: Jill Hunters Capital (206) 328-6153