In a sign that the development market remains bullish on Capitol Hill’s apartment and retail prospects, the developers behind one of the most ambitious projects in Pike/Pine have announced the re-start of a massive seven-story, 260-unit mixed-use apartment project that will transform a former BMW dealership into housing, restaurants and shops.
CHS reported that developers at Wolff Company were putting the Pike Motorworks project on hold earlier this year when initial financing for the development and preservation project dried up. “We have successfully recapitalized our Pike Motorworks project on the former BMW site, and will be restarting with our project team right away,” Wolff’s Greg Van Patten said in an email about the project.
The developers are currently planning to start demolition of the E Pike at Harvard project in November. Nearby at Harvard and Pine, another development and preservation project is poised to dig in on the Bill’s Off Broadway building. Both projects are taking advantage of Pike/Pine Conservation District Overlay development incentives. New rules are being drafted for the district but projects already underway will not be subject to the new requirements. Meanwhile, one Pike/Pine project has begun taking one of its buildings slated for preservation apart brick by brick after finding the “character structure” had decayed significantly.
With new buildings designed by Weber Thompson around ground level retail conceived by Graham Baba, the Wolff project will replace the old BMW showroom, the E Pine facing service warehouse and three parking lots with a jigsaw-shaped development intersected by restaurant and shopping corridors.
Another project replacing an E Pike dealership will take a turn in front of the city’s design review board Wednesday night. We’ll have more about that project soon.