Developer reveals plans for the Piecora’s building

How they did it up north -- Equity's Urbana building opened in Ballard this year

How they did it up north — Equity’s Urbana building opened in Ballard this year

Now that the last night of service has come and gone, what will replace the old Piecora’s building? The largest publicly traded owner of apartment buildings in the country has shared details with CHS of the first ever project it will build from the ground up in the high-demand Capitol Hill market.

“We buy and build,” a spokesperson for Equity Residential tells CHS about its $10.3 million purchase of the building and parking lot at 14th and Madison that is now slated to be demolished sometime in the next year. “We’re all over the Seattle market. It’s such a terrific long-term market for renters, were looking to expand our footprint there.”

The spokesperson tells CHS that Equity plans to develop a six-story, 140-unit mixed-use apartment building with hopes of starting construction late next year after the prerequisite rounds of permitting and design review. The new building will include some 3,700 square-feet of retail — room for a new pizza joint, perhaps — and will include underground parking. The goal is to have the project open for eager Capitol Hill renters by 2017, the spokesperson said.

The confirmation of Equity sticking to what it does best squashes a rumor that had been circulating about a possible hotel planned as part of a new development at the site.

The design of the building has not yet begun as Equity is still settling on an architect for the project. We looked here at the types of buildings the Equity Residential builds and holds in its vast portfolio. Situated on a rising slope along E Madison and overlooking the Broadway basin leading to First Hill, the building will fill a prominent corner on the street and will be just a block from the dramatic rise of the Bullitt Center, touted as the greenest commercial building on the planet.

While the new building will be the first project Equity constructs on Capitol Hill, it has purchased three others amid an increasingly lucrative rental market in the area.

“We very much like the Capitol Hill area,” the Equity spokesperson said. “We think it’s a strong submarket.”

29 thoughts on “Developer reveals plans for the Piecora’s building

  1. Good god, that building in Ballard is a monstrosity. We air our disgust time and time again as we drive by it. And it’s on that main drag for the rest of our lives…well most of us anyway.

    Oh good, one of these eyesores for Capitol Hill too. Fudging lovely.

  2. It’s on the corner where Dennis was not the bowling alley. I think it will be a great improvement over whats there. Especially with a new priceless on ground floor. If you don’t like the new developments buy some old building on the hill and keep it run down. Rich people don’t live in aptments

  3. I hope Old Country Buffet goes in on the corner where Piecorras was. It would be awesome if it was 24 hours since this town is lacking in all-night eaterys (Lost Lake sucks…poor service and attitude). Also, there’s no Subway in that area, so they could be another tenant. Oh, and another Starbucks.

  4. Some of you have missed that the picture is of a building in Ballard. We can always hope that the new building at the Piecora’s site will be much more attractive, but I’m not holding my breath.

  5. Pingback: Capitol Hill says goodbye to Piecora’s, hello to familiar national apartment developer | CHS Capitol Hill Seattle

  6. A lot of the original submissions from architects and developers get shot down at Public Design Review Board meetings…

    In trying to please everyone, they end up pleasing no one.

  7. sad!! Greedy Equity Residential…I am sure they will make living on Capitol Hill nearly impossible for the common people!! It would be nice if people boycotted this company and didn’t rent from any of their places!! Most likely an impossible task given the rental market in Seattle…but a boy can dream!!

  8. The building that is currently there, while home to a beloved pizza place, is pretty hideous and without any character, as well. IMO, anything they build will look better than a moldering, poorly maintained warehouse space, even if it looks like the rendering of the Ballard building in the above photo.

  9. The current building is pretty sad, but this style looks so dated. Look at the ugly buildings that house Madison Market and Trader Joes? Seems like a building happily suited in the suburbs. Not very urban at all.

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  12. Pingback: Pick the bones of pizza past at Piecora’s auction | CHS Capitol Hill Seattle

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